Nationwide Credit Card Application

lhwrandal

I am a Nationwide member.  I tried to apply for their credit card.  The eligible checker said I will be declined for a card, but at the same time, the offer said my credit limit will be £75k at 24.9% if accepted.  

This is confusing. Should I go ahead with the full application?  Any chance it will be accepted even if the eligibility checker says otherwise?

WillPS

Depends how much you want it and how much you care about a hard search, I guess. There must be a reason a full application is offered even when a provisional decline has been shown.

CliveOfIndia

lhwrandal said:

The eligible checker said I will be declined for a card, but at the same time, the offer said my credit limit will be £75k at 24.9% if accepted.

£75K sounds awfully high for a UK credit card for "ordinary" people.  Where did this offer come from - are you sure it was genuinely from Nationwide?  I'd recommend you tread carefully, and verify the source before you click on any links you may have been sent.

Olinda99

no it will not be 75k.

lhwrandal

CliveOfIndia said:

lhwrandal said:

The eligible checker said I will be declined for a card, but at the same time, the offer said my credit limit will be £75k at 24.9% if accepted.

£75K sounds awfully high for a UK credit card for "ordinary" people.  Where did this offer come from - are you sure it was genuinely from Nationwide?  I'd recommend you tread carefully, and verify the source before you click on any links you may have been sent.

I am sorry.  It was a typo.  It should be £7.5k, not £75k.  The quote came from inside internet banking, so I am sure the source was legit.

CliveOfIndia

lhwrandal said:

I am sorry.  It was a typo.  It should be £7.5k, not £75k.  The quote came from inside internet banking, so I am sure the source was legit.

Ah right, that sounds more reasonable.

I can't say for certain, but I suspect that the offer you saw was just a generic advertisement for one of their products.

lhwrandal said:

The eligible checker said I will be declined for a card, but at the same time, the offer said my credit limit will be £75k at 24.9% if accepted.  

That's the important part.  How it works is that a lender will advertise a product, and give an illustration of the indicative rates - which they have to offer to 51% of successful applicants.  So 51% of successful applicants in this example will be offered a card with a limit of £7.5K and an APR of 24.9%.

Not all applications will be successful, and of those that are, not all will be offered the advertised T&Cs.

If the eligibility calculator indicated that you're unlikely to be accepted then it's probably not worth applying.

lhwrandal said:

Any chance it will be accepted even if the eligibility checker says otherwise?

Yes, there's a chance - the eligibility checker only looks at a small subset of your credit data, whereas a hard search (performed if you make an application) will look at all available data.  But a lender's own eligibility checker, whilst by no means foolproof, tends to give a slightly better indication than a generic third-party checker.  And whilst one hard search in isolation is neither here nor there, there's little point in applying if the indications are that you're likely to be rejected.

[Deleted User]

If you have a current account with them then they will be getting a monthly feed from the CRAs and will use this in conjunction with your account management to make offers - they don't come from thin air.

Unless you have a pressing need for credit e.g. re-mortgage then one single credit card application should only make a negligible difference to your credit profile.

 

lhwrandal

[Deleted User] said:

If you have a current account with them then they will be getting a monthly feed from the CRAs and will use this in conjunction with your account management to make offers - they don't come from thin air.

Unless you have a pressing need for credit e.g. re-mortgage then one single credit card application should only make a negligible difference to your credit profile.

 

I opened the Nationwide account not long ago for the switch offer.  In that case, maybe I should use the account for a bit first to build some track record before I apply for the credit card.

Superhoopza

lhwrandal said:

I am a Nationwide member.  I tried to apply for their credit card.  The eligible checker said I will be declined for a card, but at the same time, the offer said my credit limit will be £75k at 24.9% if accepted.  

This is confusing. Should I go ahead with the full application?  Any chance it will be accepted even if the eligibility checker says otherwise?

Did you apply and if so, did you get approved?

enterprising2016

Hi everyone,

I applied for a Nationwide Credit Card today and received the following messages.

At the Eligibility Check page: "We may be able to offer you a credit card".
After submitting a full application: 

"We need to check a few more details before we can complete your application. Within 7 working days we'll either:

-Confirm if we've been able to approve your application

-Let you know if we need anything else from you"

Has anyone experienced this? Message so far did not augur well.

Thank you!

Hoenir

7 working days seems perfectly normal to undertake final checks.