Card application decline (confusing)

cheemsta

I recently applied for Barclaycard but was decline due to 'affordability' and was advised to contact the credit ref agency. I have no debt (except mortgage) I earn a very good salary & have strong amount of savings. When I asked Barclays to give me more info on the decline they couldn't provide an answer. 

Should I apply somewhere else or wait so it doesn't affect my credit score? 

[Deleted User]

Try one more application. If declined, leave it a month or two before trying again.

Don't worry about any changes to your score. Lenders aren't looking at that. Remember to check all your files though for anything amiss.

Swoosh84

@cheemsta - If Barclaycard done a full and Hard Search then it will have already had an impact on your report. You may still be able to get another one though.

Have you attempted to use MSE's credit checker to see what your eligibility for cards is? If not, I would reccomend doing this, if you find one you like the look off see if the said provider also has an eligibility checker on their own website that you can use. These eligibility checkers conduct what is known as soft searches and will not have a negative impact on your report.

Have you downloaded your report from the free providers? ClearScore, Credit Karma, MSE and Totally Money to see if there is anything on there that is having a negative impact on your credit worthiness?

J

 

cheemsta

@Swoosh84 - Yes Barclays have done a hard search on my file I received the alert from one of the agency. I've checked my credit file across all those you've mentioned and everything is in-line. I have no debt, outstanding loans or markers on my file. My score is in 'excellent' graph across all the major agencies. 

I've used the MSE credit checker and there are a few card there giving me 100% & 95% accepted status. I'm just annoyed with Barclays for not providing a reasonable response for the decline. I meet the criteria for a responsible credit card holder based on my finances. 

@Deleted_User - Thanks for the tip, I thought lenders looked at scores lol - hopefully try one more then I'll give up. To be honest I'm thinking of having it as an emergency more than anything. 

sleepyjones

The fact that you have no debt or loans might be the defining factor in their decision.

If you check the MSE comparison thingy to get the most likely acceptance (eg Virgin Money),  then also check to see if the provider (eg. Virgin Money) also have an eligibility checker on their site.  Virgin Money's checker will get you a better idea than the MSE one. 

goldieandblackie

You maybe on a very good salary but how high is your mortgage, banks have tightened their lending.

The_Real_Cheddar_Bob

Do you bank with Barclays? If not, have you tried your bank... no better to asses ones affordability than those who can see every transaction 

funkycredit

Barclaycard are a nightmare for that generic affordability decline. You'd be best appealing it by writing a letter and enclosing some payslips / statements. 

I have a Barclays Premier account and at the time I applied for a Barclaycard, my income was paid into the Premier account yet their eligibility checked declined me citing this affordability. Now that's fine but I was paying in over £10k monthly yet this held no kudos with Barclaycard. They cannot access Barclays accounts apparently. 

Anyway, I emailed the CEO and kicked off about it and they rung me and said to keep doing the eligibility checker monthly. After 2 more declines it accepted me but with an awfully low limit - however they sent a secure link which allowed me to upload bank statements (so I did) and then my limit was upped to £3500. 

It was all a tad ridiculous but when the adviser called me they did mention that I could write in and appeal but only if I didn't use the eligibility checker and instead do a full application. I thought nah, I'll just keep trying every month. 

To be honest it's a card I rarely use. I prefer my Santander / Amex cards for everyday usage. 

funkycredit

The_Real_Cheddar_Bob said:

Do you bank with Barclays? If not, have you tried your bank... no better to asses ones affordability than those who can see every transaction 

Weirdly it makes no difference. They cannot see your bank info. It's two separate companies.