Unable to get credit of any sort from Barclays only

Dallybally

Brie said:

Have you supplied them with proof of your income?  That might help.  I do know that they went through a big exercise of cutting their liability by slashing the available credit for many people, like myself, who had a card with them for years.  (£20k down to £1400!!!)  I expect they take a similar strong view on loans.

The other thing to take into account is what credit you currently have available to you.  So if you have a card with £10k available that will count even if you aren't currently using it.  Likewise for store loans - I recently applied and got a 0% payment plan with B&Q as we're getting a new kitchen.  They've given me a limit twice what's required for an entire kitchen for all the kit and fitting.  

Yeah, must be this. My Barclaycard with them
had 25k limit but I stopped using it as was getting more cash back with another card, now they won’t give me a penny. 

MrFrugalFever

From my experience Barclays treat anything remotely adverse on your credit files (such as the one missed payment from 4 years ago) as a red flag.

Also, again from experience, do not rely on data held by the likes of Clearscore/Credit Karma/Totally Money etc the reason being because they can be inaccurate. Go direct to all 3 agencies and request a free statutory credit report for most up to date information.

Clearscore was the worst for not showing 100% of my accounts/information correctly.

You will never know Barclays own internal scoring algorithms as they will be kept commercially sensitive, however, it is highly likely your error from 4 years ago is what is holding them back. As mentioned above, find an alternative lender (there's many great ones out there) and move on. 

prowla

I have the same issue: Barclays only.

One particular one was Amazon, where they do the 3-months interest-free option: "Why not?" I thought and completed two of those with no issues, and then went for another and it was rejected; they'd switched to Barclays.

I've also had it at Apple Stores, where I've tried getting onto the "update your phone when you like" arrangement; it's failed every time I've tried over several years; Barclays.

One day I failed at the Apple Store, so I went to the EE store in the same shopping centre and got it there, and then bought a new BMW on a PCP arrangement the same day! 

(After buying the phone I went back to the Apple Store with it to get a case and a screen conenctor and told them their credit provider was lsing them custom.)

I think I got to the bottom of it when I was trying to get answers and one of the people mentioned that my bank didn't give out instant replies to credit queries.
Now, if looking at credit, I simply ask if their provider is Barclays and if it is, I just say don't bother.

sourcrates

Perhaps cut out the middleman (any lender really) and save up for the stuff you want instead.

The idea of a bank holding sway over whether I can have the latest iPhone or not, is not something I would be willing to chance.

Brie

Another thing to remember is that Barclays makes most their money through their investment bank and wealth investment services.  Not personal banking - which is part of the reason they continue to close branches.  It's a bit of a self fulfilling prophecy of sorts.....the less personal banking business they provide the less branches they need which stops people from considering them for personal banking so they provide less personal business banking.

Paul_J

Whenever I've used an eligibility calculator for a loan or credit card Barclays ALWAYS show as 20pc or less chance of acceptance. Been this way for over 10 years now with a perfect credit rating. Never been a problem though as I'm always accepted by the other big lenders. It's always amused me 🤣

Hoenir

Paul_J said:

Whenever I've used an eligibility calculator for a loan or credit card Barclays ALWAYS show as 20pc or less chance of acceptance. Been this way for over 10 years now with a perfect credit rating. Never been a problem though as I'm always accepted by the other big lenders. It's always amused me 🤣

Always worth checking the date of the last post before responding.