MSE said I was preapproved but Barclayard declined

CliveOfIndia

callum9999 said:

CliveOfIndia said:

Any indication given by a third-party eligibility checker is, at best, a very rough guess.  Firstly, they don't perform a hard search, so only have access to a small subset of your credit data.  Secondly, and more importantly, each lender will have different criteria and a different target customer-base.  Since those criteria are confidential and commercially-sensitive, no-one outside of their risk-management team will know what those criteria are.  This is also the reason why they won't tell you exactly why you failed their checks - all they'll say is that you don't fit their criteria.

So the generic eligibility checkers will basically use what limited information they have on you, and cross-match it to the basic criteria that are commonly used by most lenders.  But since they can't know a lender's specific, detailed criteria, it's essentially an educated guess.

it's rather trivial to have the MSE checker interface with the credit providers system and get a response back from that.

I guess that may be the case, I don't know what interfaces each third-party checker utilises.  But going by the fact that the advice on this forum is always that "a lender's own eligibility checker will give more accurate indications than third-party ones", the inference is that third-party sites don't have access to lenders' systems.

I may, of course, be barking up the wrong tree, in which case I apologise

callum9999

CliveOfIndia said:

callum9999 said:

CliveOfIndia said:

Any indication given by a third-party eligibility checker is, at best, a very rough guess.  Firstly, they don't perform a hard search, so only have access to a small subset of your credit data.  Secondly, and more importantly, each lender will have different criteria and a different target customer-base.  Since those criteria are confidential and commercially-sensitive, no-one outside of their risk-management team will know what those criteria are.  This is also the reason why they won't tell you exactly why you failed their checks - all they'll say is that you don't fit their criteria.

So the generic eligibility checkers will basically use what limited information they have on you, and cross-match it to the basic criteria that are commonly used by most lenders.  But since they can't know a lender's specific, detailed criteria, it's essentially an educated guess.

it's rather trivial to have the MSE checker interface with the credit providers system and get a response back from that.

I guess that may be the case, I don't know what interfaces each third-party checker utilises.  But going by the fact that the advice on this forum is always that "a lender's own eligibility checker will give more accurate indications than third-party ones", the inference is that third-party sites don't have access to lenders' systems.

I may, of course, be barking up the wrong tree, in which case I apologise

I think you are. I know for a fact that pre-approvals on Clearscore come from the lender and not from Clearscore "guessing", I'd be shocked if it wasn't the same with MSE. Stating pre-approved is far too definitive (even if not guaranteed) to be done as a guess.