How accurate is MSE's Eligibility Checker?
Fingerbobs
Forumite Posts: 1,542
Forumite
Just wondering  if MSE's Eligibility Checker says "you are not eligible for this card" is that definitely the case, and if I apply for that card I would be rejected?
Just curious, as I've been stoozing for many years and never been declined for a card yet, and yet the MSE checker reckons I'm ineligible for most of the useful cards on the market.
Just curious, as I've been stoozing for many years and never been declined for a card yet, and yet the MSE checker reckons I'm ineligible for most of the useful cards on the market.
0
Comments

I think there is a flaw in it somewhere, I applied for a Santander loan that I had 95% eligibility for and got turned down, and credit cards show up for me on there that do not show up on clearscore or Experian. After risking a hard check and getting declined I’m too worried to risk again. Came across this forum for the very reason that I searched so see how accurate it is
0 
I have just been approved for a card with a £6900 limit that MSE Eligibility Checker gave me a 0% chance. So it may be worth a try. But I did use the bank's own precheck before I made the formal application. The precheck limit matched the actual limit.0

The checker doesn’t have the direct data from creditors.So whilst it may be an indication you should always try a checker on the creditors website first for your chances.0

MSE claim to have worked closely with the providers in building their checker... its up to you how close that really was and how often its repeated as criteria change, Certainly they dont have an internal information a lender may hold on you so even if the lenders did give them all their commercial secrets on underwriting it'd still be incomplete.
You will find plenty of stories of people defying the odds and getting refused/accepted against the odds but then if you've a 90% chance of being accepted it means 1 in 10 are accepted so does the exception show the percentages are off or its just the one in ten.
If you dont consider MSE (now part of Money Supermarket) to be sacred you could inevitably ask the question on if the referral fee given forms any part of the calculation0 
When I started stoozing (6years ago or so) I applied for any card I liked so long as the probability was over 50%. I always got the card. About two years ago things tightened, even more so since covid. Just before Christmas I was rejected by Barclay Card despite being given an 80% chance of success by their own eligibility calculator. I did get a reason (concerns I was taking on too much debt) which doesn't get factored in to the soft searches so that's fair enough. Back in June I got a card with a less than 50% chance (30 IIRC) so as others have said even if the predictor is accurate it doesn't mean you won't be the exception (either way!).
0 
Take the MSE eligibility checker with a large bucket of salt.
I have twice been rejected for cards from 2 different providers where I was rated 95% but accepted for one where I was only given a 30% chance of approval.0 
NaughtiusMaximus said:Take the MSE eligibility checker with a large bucket of salt.
I have twice been rejected for cards from 2 different providers where I was rated 95% but accepted for one where I was only given a 30% chance of approval.0 
30% chance of approval and 95% chance of approval both mean, statistically, that there is a chance you will get approved.1

I always look on the MSE eligibility checker for the best card then use the card's own eligibility checker before applying just to be sure. A few times I was 90% or 95% likely to be approved on MSE's checker only to be declined.FTB  April 20200

Deleted_User said:30% chance of approval and 95% chance of approval both mean, statistically, that there is a chance you will get approved.
5% chance of being declined for card A
5% chance of being declined for card B
30% chance of being accepted for card C
The percentage chance of ALL of those occurring is 0.075%, or 1 in 1,300.
0
Categories
 All Categories
 338.9K Banking & Borrowing
 248.7K Reduce Debt & Boost Income
 447.6K Spending & Discounts
 230.8K Work, Benefits & Business
 601K Mortgages, Homes & Bills
 171.1K Life & Family
 244.1K Travel & Transport
 1.5M Hobbies & Leisure
 15.9K Discuss & Feedback
 15.1K Coronavirus Support Boards