Barclays personal reserve

willo65

Was the app declined and then you asked if it could be because of the reserve you have barclays and then they just agreed with you?

rachhealey

No - I didn't tell them that I had a reserve. Both MBNA and A & L told me that was the reason without any prompting.

Extant

rachhealey wrote: »

No - I didn't tell them that I had a reserve. Both MBNA and A & L told me that was the reason without any prompting.

There is absolutely no way for them to know - and honestly, I doubt that the staff there would even really know what it is. We don't report reserve usage at all.

Personal Reserve is a product, and you shouldn't, or wouldn't, expect to find that sort of detail reported outside of the bank. For instance, look at your credit report. You'll see a total credit limit. But there's different levels of reserve, it goes from £150 up to £1000. That will show as part of your credit limit, but can you find anywhere to indicate which level you have? Not even that is reported.

cronos

I have recently been on the receiving end of a £22 'fee' which effectively equates to an annual interest rate of just shy of 29,000%.

I've no issue with paying for a service or overdraft, but the disproportionate nature of this charge and the manner in which Barclays' call centre attempted to justify it have made me decide to terminate my accounts after 20 years.

BeenieCat

I'm confused about this reserve fee.

OH has this on his account, i don't. If i go over my overdraft i'm charged £8.

If he goes overdrawn he's charged £22.

I am failing to see what's good about the reserve?

willo65

BeenieCat wrote: »

I'm confused about this reserve fee.

OH has this on his account, i don't. If i go over my overdraft i'm charged £8.

If he goes overdrawn he's charged £22.

I am failing to see what's good about the reserve?

The £22 covers you for 5 days I believe so if you have a number of d/d's say 5 of them which would keep you within your reserve limit then instead of being charged £40(£8 each) you only pay £22. Also you can get some cash from reserve if you need it whereas if you were upto your limit you wouldn't have access to any money either.

rachhealey

Hi BarlcaysManager
I have looked at both credit reports and you're right that it just shows a total credit limit. However, I know that when talking to financial institutes that they actually can see a different level of detail to me. They say that they can see whether I am over my overdraft limit or not - but this detail does not show on my credit report.
I am afraid to say that what has happened to me clearly shows Barclays does report reserve usage and it does affect your credit rating - so watch out anyone who is reading this and has a reserve!

Extant

rachhealey wrote: »

Hi BarlcaysManager
I have looked at both credit reports and you're right that it just shows a total credit limit. However, I know that when talking to financial institutes that they actually can see a different level of detail to me. They say that they can see whether I am over my overdraft limit or not - but this detail does not show on my credit report.

What credit report are you looking at? Because every credit report I've ever seen will show you if you're behind on payments or any defaults etc. That's no "hidden detail" that only banks can get at; the credit reports that we pull are essentially the same as the ones you can order online - they're in a different format, but the information is the same.

I am afraid to say that what has happened to me clearly shows Barclays does report reserve usage and it does affect your credit rating - so watch out anyone who is reading this and has a reserve!

I am afraid to say that what happened to you does not clearly show we report Reserve usage - because we do not. Personal Reserve is a product that forms part of your current account's credit limit. As such, when you look on a credit report, it comes under the product type current account. There is no other way to record it.

I am sorry that you've been declined by MBNA and A&L, but you have no evidence to suggest that we report it, and I can tell you categorically that we do not.

The credit report that you can see is the same as the kind we see. Have a look, you will see no mention of the Personal Reserve service or any indication there-to.

Still don't believe it? Put in a Subject Access Request under the Data Protection Act with Equifax or Experian. They'll send you every bit of personal data they hold on you, but they still want send you anything to do with Personal Reserve.

never-in-doubt

BarclaysManager wrote: »

What credit report are you looking at? Because every credit report I've ever seen will show you if you're behind on payments or any defaults etc. That's no "hidden detail" that only banks can get at; the credit reports that we pull are essentially the same as the ones you can order online - they're in a different format, but the information is the same.

Are you quite sure BM? I think you'll find Barclays (as do others) report to the Fraud Prevention Agencies (FPA's) namely Experian DA, N Hunter, Synectics Solutions & Cifas.......

Therefore you do in fact have hidden data that you'd rather we didn't see and yes, obtaining a SAR from either the FPA direct or Barclays will show what they have about you.

Put it this way it is possible to have a cifas registered against you and nothing to show on CRA. The only way to find out this is to get a SAR (cifas).... I've done it and found a cifas (incorrectly placed) from Lloyds & HBOS. Now in process of being removed but they did not show on any of my Credit Reports.

Extant

never-in-doubt wrote: »

Are you quite sure BM? I think you'll find Barclays (as do others) report to the Fraud Prevention Agencies (FPA's) namely Experian DA, N Hunter, Synectics Solutions & Cifas.......

Therefore you do in fact have hidden data that you'd rather we didn't see and yes, obtaining a SAR from either the FPA direct or Barclays will show what they have about you.

Put it this way it is possible to have a cifas registered against you and nothing to show on CRA. The only way to find out this is to get a SAR (cifas).... I've done it and found a cifas (incorrectly placed) from Lloyds & HBOS. Now in process of being removed but they did not show on any of my Credit Reports.

Hidden detail refering to credit reports - Reserve usage still wouldn't be reported to CIFAS et al.

SAR 'em up too and check.