Compare the Market Credit Card finder - Bang on credit limits shown in soft search results.

vacheron

Just wanted to post this for the benefit of other stoozers out there. 

Normally I tend to use MSE, Uswitch, Money Supermarket etc. when I come to search for new BT cards, however this time one of the companies that came up was Compare The Market,

I did a search using all 4 companies, and Compare the Market came back with far more pre approved offers with 0% bt and 0% fees than the others. 

However, the main standout feature for me, which I have personally never seen before, was that the credit limit was stated in the search results for each card. 

I subsequently applied for 3 of the cards from their results, and after formally submitting my applications (and the resulting hard search from each lender), all 3 applications were approved with exactly the credit limits which Compare the Marked stated in their search results.

I think this is a great feature as i'm sure many on here have had the unfortunate experience of having to formally apply first only to find after acceptance that you have been offered some paltry credit limit at the cost of a hard search. So this looks a very useful and reliable way of avoiding this in the future.
 

otherwayup

I appreciate this info. but when I tried it, most of the cards listed came back with 'Credit limit: Upon application' and those that did have a figure, were below the 15k limit figure I'd request anyway (not worth the hassle for less than that, is it).

Nasqueron

vacheron said:

Just wanted to post this for the benefit of other stoozers out there. 

Normally I tend to use MSE, Uswitch, Money Supermarket etc. when I come to search for new BT cards, however this time one of the companies that came up was Compare The Market,

I did a search using all 4 companies, and Compare the Market came back with far more pre approved offers with 0% bt and 0% fees than the others. 

However, the main standout feature for me, which I have personally never seen before, was that the credit limit was stated in the search results for each card. 

I subsequently applied for 3 of the cards from their results, and after formally submitting my applications (and the resulting hard search from each lender), all 3 applications were approved with exactly the credit limits which Compare the Marked stated in their search results.

I think this is a great feature as i'm sure many on here have had the unfortunate experience of having to formally apply first only to find after acceptance that you have been offered some paltry credit limit at the cost of a hard search. So this looks a very useful and reliable way of avoiding this in the future.
 

It might be useful but equally, it's not a "feature" as such - Compare The Market can only guess at what lenders will offer and have no control over what you get, it is essentially a good guess by them

vacheron

Nasqueron said:

vacheron said:

Just wanted to post this for the benefit of other stoozers out there. 

Normally I tend to use MSE, Uswitch, Money Supermarket etc. when I come to search for new BT cards, however this time one of the companies that came up was Compare The Market,

I did a search using all 4 companies, and Compare the Market came back with far more pre approved offers with 0% bt and 0% fees than the others. 

However, the main standout feature for me, which I have personally never seen before, was that the credit limit was stated in the search results for each card. 

I subsequently applied for 3 of the cards from their results, and after formally submitting my applications (and the resulting hard search from each lender), all 3 applications were approved with exactly the credit limits which Compare the Marked stated in their search results.

I think this is a great feature as i'm sure many on here have had the unfortunate experience of having to formally apply first only to find after acceptance that you have been offered some paltry credit limit at the cost of a hard search. So this looks a very useful and reliable way of avoiding this in the future.
 

It might be useful but equally, it's not a "feature" as such - Compare The Market can only guess at what lenders will offer and have no control over what you get, it is essentially a good guess by them

I find it difficult to believe that their “good guess”. was exactly right (to the pound) on all three cards I subsequently applied for. 

We are talking figures like £14,300, £11,250 &  £15,500.

I do appreciate that on a hard search something unexpected might crop up, but all I can speak from is my experience and all three were exactly right. 👍

vacheron

otherwayup said:

…,,those that did have a figure, were below the 15k limit figure I'd request anyway (not worth the hassle for less than that, is it).

I guess that depends on the individual, but for me, those three cards (that were generally under 15k each) are now all in a Trading 212 Cash ISA  earning 2K per year in free interest. That was “worth the hassle” for me. 😊

DullGreyGuy

Nasqueron said:

vacheron said:

Just wanted to post this for the benefit of other stoozers out there. 

Normally I tend to use MSE, Uswitch, Money Supermarket etc. when I come to search for new BT cards, however this time one of the companies that came up was Compare The Market,

I did a search using all 4 companies, and Compare the Market came back with far more pre approved offers with 0% bt and 0% fees than the others. 

However, the main standout feature for me, which I have personally never seen before, was that the credit limit was stated in the search results for each card. 

I subsequently applied for 3 of the cards from their results, and after formally submitting my applications (and the resulting hard search from each lender), all 3 applications were approved with exactly the credit limits which Compare the Marked stated in their search results.

I think this is a great feature as i'm sure many on here have had the unfortunate experience of having to formally apply first only to find after acceptance that you have been offered some paltry credit limit at the cost of a hard search. So this looks a very useful and reliable way of avoiding this in the future.
 

It might be useful but equally, it's not a "feature" as such - Compare The Market can only guess at what lenders will offer and have no control over what you get, it is essentially a good guess by them

I think that some comparison are actually starting to talk to the providers rather than using their own random number generator. ClearScore with some lenders have their "guarantee" on acceptance, APR and amount. 

Interestingly a while back did a check with them for a loan and Zopa came back with the most favourable APR. Did a soft check in the Zopa website and it also came back as something they'd approve but with a much higher APR. Proceeded via the aggregators link and it was approved and did come in at the lower APR. 

Either that was an extraordinary guess or there is some level of integration and communication.

Nasqueron

vacheron said:

Nasqueron said:

vacheron said:

Just wanted to post this for the benefit of other stoozers out there. 

Normally I tend to use MSE, Uswitch, Money Supermarket etc. when I come to search for new BT cards, however this time one of the companies that came up was Compare The Market,

I did a search using all 4 companies, and Compare the Market came back with far more pre approved offers with 0% bt and 0% fees than the others. 

However, the main standout feature for me, which I have personally never seen before, was that the credit limit was stated in the search results for each card. 

I subsequently applied for 3 of the cards from their results, and after formally submitting my applications (and the resulting hard search from each lender), all 3 applications were approved with exactly the credit limits which Compare the Marked stated in their search results.

I think this is a great feature as i'm sure many on here have had the unfortunate experience of having to formally apply first only to find after acceptance that you have been offered some paltry credit limit at the cost of a hard search. So this looks a very useful and reliable way of avoiding this in the future.
 

It might be useful but equally, it's not a "feature" as such - Compare The Market can only guess at what lenders will offer and have no control over what you get, it is essentially a good guess by them

I find it difficult to believe that their “good guess”. was exactly right (to the pound) on all three cards I subsequently applied for. 

We are talking figures like £14,300, £11,250 &  £15,500.

I do appreciate that on a hard search something unexpected might crop up, but all I can speak from is my experience and all three were exactly right. 👍

Individual anecdotes don't mean anything unfortunately, the plural of anecdote is not data. It might work for you, it might not work for anyone else, unless thousands tested it and all had the same result as you then it's just an isolated event and cannot be said to be a reliable feature.

Given MSE are owned by Money Supermarket, I suspect they won't want to push this via their own site as they'd lose the commission but you never know

Nasqueron

DullGreyGuy said:

Nasqueron said:

vacheron said:

Just wanted to post this for the benefit of other stoozers out there. 

Normally I tend to use MSE, Uswitch, Money Supermarket etc. when I come to search for new BT cards, however this time one of the companies that came up was Compare The Market,

I did a search using all 4 companies, and Compare the Market came back with far more pre approved offers with 0% bt and 0% fees than the others. 

However, the main standout feature for me, which I have personally never seen before, was that the credit limit was stated in the search results for each card. 

I subsequently applied for 3 of the cards from their results, and after formally submitting my applications (and the resulting hard search from each lender), all 3 applications were approved with exactly the credit limits which Compare the Marked stated in their search results.

I think this is a great feature as i'm sure many on here have had the unfortunate experience of having to formally apply first only to find after acceptance that you have been offered some paltry credit limit at the cost of a hard search. So this looks a very useful and reliable way of avoiding this in the future.
 

It might be useful but equally, it's not a "feature" as such - Compare The Market can only guess at what lenders will offer and have no control over what you get, it is essentially a good guess by them

I think that some comparison are actually starting to talk to the providers rather than using their own random number generator. ClearScore with some lenders have their "guarantee" on acceptance, APR and amount. 

Interestingly a while back did a check with them for a loan and Zopa came back with the most favourable APR. Did a soft check in the Zopa website and it also came back as something they'd approve but with a much higher APR. Proceeded via the aggregators link and it was approved and did come in at the lower APR. 

Either that was an extraordinary guess or there is some level of integration and communication.

I had a 100% guaranteed acceptance from this site for a Virgin card that instead went to manual review and was rejected, it's just one of those things. I doubt the CRAs or comparison sites are going to be given the sort of data that lenders use for selection criteria as it'd inevitably leak and be used to game the system or other lenders would use it to beat quotes. ClearScore perhaps have an agreement for loan rates with certain lenders as a promo to get more loans in return for commission like the cashback sites do

otherwayup

vacheron said:

otherwayup said:

…,,...

I guess that depends on the individual, but for me, those three cards (that were generally under 15k each) are now all in a Trading 212 Cash ISA  earning 2K per year in free interest. That was “worth the hassle” for me. 😊

You did well to spend 40k so quickly, or were they balance transfers (with fee, etc.)?
I'm not knocking it.  As I said I appreciate you posting the info. and I used to stooze years ago when I had to (young family, mortgage etc).
Thanks again.

vacheron

otherwayup said:

vacheron said:

otherwayup said:

…,,...

I guess that depends on the individual, but for me, those three cards (that were generally under 15k each) are now all in a Trading 212 Cash ISA  earning 2K per year in free interest. That was “worth the hassle” for me. 😊

You did well to spend 40k so quickly, or were they balance transfers (with fee, etc.)?
I'm not knocking it.  As I said I appreciate you posting the info. and I used to stooze years ago when I had to (young family, mortgage etc).
Thanks again.

They were all 0%, fee free cards.

I use a money transfer card (my Halifax Clarity) as a mule to transfer cash directly to my bank account.

I then use one of the 0% cards to transfer this resulting Clarity balance….. and repeat for as many BT cards / limits as you have managed to be accepted for.

It took me just over a week to move the full £40k of new credit (plus £11K from a 4th card I already had), into my Cash ISA. 

Nasqueron

Just to say that I'm not unwilling to change my mind on things, I still don't think we could state it's guaranteed but I did a check on the Meerkats and Santander was quoted at £4800 limit which is what I got when I applied (albeit via Top Cashback as £17 is better than Aleksander buying more Costa pastries)

My experience was:

No limit quoted:

lloyds, mnba, fluid, capital one, post office, ocean, m&s, first direct

Limit quoted:

santander, natwest , virgin, , vanquis, zable