Guaranteed acceptance?

r_holmes22

My current 0% Barclaycard deal is due to end soon, so I am in the market for a new interest-free credit card. Co-incidentally, I recently received some junk mail from my bank (Lloyds TSB) promoting their American Express rewards card. Although the introductory rate only runs for 6 months, the letter says I am guaranteed to be accepted. Does this mean they won't bother running a credit check?

I ask because I've recently taken out a credit agreement to purchase a car and I am hoping to take out a loan in a month or two for home improvements. I am worried a third credit check in such a short space of time will adversely affect my credit history. If the bank will run a credit check anyway before my 'guaranteed' acceptance then I may as well go with a card with a longer 0% introductory offer.

Thanks for your time.

Fatboy_NSS

They will still run a credit check. It's probably in the small print somewhere that the offer is guaranteed as long as there isn't any negative info on your credit file.

Stonk

There will definitely be a credit check in order to decide your credit limit. If they don't like what they find, they might give you a £100 limit to keep to the word of their advertising.

gazroe

I had the same letter and I read all the t&cs and it could not find anything that stated there would be a credit check and as I bank with lloyds I have replied on that basis.
Garry

CTT_2

r_holmes22 wrote:

My current 0% Barclaycard deal is due to end soon, so I am in the market for a new interest-free credit card. Co-incidentally, I recently received some junk mail from my bank (Lloyds TSB) promoting their American Express rewards card. Although the introductory rate only runs for 6 months, the letter says I am guaranteed to be accepted. Does this mean they won't bother running a credit check?

I ask because I've recently taken out a credit agreement to purchase a car and I am hoping to take out a loan in a month or two for home improvements. I am worried a third credit check in such a short space of time will adversely affect my credit history. If the bank will run a credit check anyway before my 'guaranteed' acceptance then I may as well go with a card with a longer 0% introductory offer.

Thanks for your time.

I am a Lloyds customer and applied for one of these card and states on the short application they only do the credit check on an additional holder.
ALso told them I wanted 15k and got it.

matrix999

If you are an exisiting customer of the bank and already hold a c/c they won't credit check you if you want to run the American Express Card alongside your first C/C.

This means that when you receive your card the limit will be set at £1 and when you phone to activate the card you will have to agree a limit for the card which is then taken from your original card.

kimmi

Hi Matrix/CTT

thanks for your posts, they make interesting reading and hopefully will get me out of a hole!

I've got 2 questions:

I've just been turned down for a Virgin 0% Bal Tfr card (failed credit check but haven't found out why yet) - I wanted to transfer my B/card balance as the 9 mth int free on purchases runs out next month. This is the first time I've been turned down for anything - would it be because in the last 12 months I've taken out a loan, barclaycard, store card and next directory and also missed one month payment on a catalogue (forgot all about it!)?

Also, I'm a Lloyds TSB customer and when I saw my manager recently I was told that my current account has a score of 10 - which I was told was the best rating on accounts, so presumably from what you say in your posts, I could get their Am Express Rewards card without any problems?

Hope you or anyone else can help!

Thanks
Kimmi

MABLE

kimmi wrote:

Hi Matrix/CTT

thanks for your posts, they make interesting reading and hopefully will get me out of a hole!

I've got 2 questions:

I've just been turned down for a Virgin 0% Bal Tfr card (failed credit check but haven't found out why yet) - I wanted to transfer my B/card balance as the 9 mth int free on purchases runs out next month. This is the first time I've been turned down for anything - would it be because in the last 12 months I've taken out a loan, barclaycard, store card and next directory and also missed one month payment on a catalogue (forgot all about it!)?

Also, I'm a Lloyds TSB customer and when I saw my manager recently I was told that my current account has a score of 10 - which I was told was the best rating on accounts, so presumably from what you say in your posts, I could get their Am Express Rewards card without any problems?

Hope you or anyone else can help!

Thanks
Kimmi

LLoyds rate yu from 1 - 10. The best is 1 and worst is 10. This also varies each month and this scores decides what accounts you can upgrade to.
My rating goes from 1 - 3.

matrix999

Hi Kimmi,

As Mable has said Lloyds TSB Grade your account on a 1-10 basis.

1 is the best through to 10 which is the worst.

It might be an idea to contact Experian or one of the credit reference agencies to get your credit report, please find the telephone number below

Experian -0115 941 0888

kimmi

Thanks for your replies.
Must have got my numbers mixed up, I would assume that because I don't go overdrawn that I would be rated nearer 1 than 10!
Will apply for a credit file from Experian and see what the problem could be, but will go to my Bank tomorrow and see if I can get their Reward card

Thanks again
Kimmi