How accurate is MSE's Eligibility Checker?

Fingerbobs · 31 January 2020 at 3:13PM

Just wondering - if MSE's Eligibility Checker says "you are not eligible for this card" is that definitely the case, and if I apply for that card I would be rejected?

Just curious, as I've been stoozing for many years and never been declined for a card yet, and yet the MSE checker reckons I'm ineligible for most of the useful cards on the market.

kerrysparkes · 2 February at 11:53PM

I think there is a flaw in it somewhere, I applied for a Santander loan that I had 95% eligibility for and got turned down, and credit cards show up for me on there that do not show up on clearscore or Experian. After risking a hard check and getting declined I’m too worried to risk again. Came across this forum for the very reason that I searched so see how accurate it is

StephenM_2 · 3 February at 4:27PM

I have just been approved for a card with a £6900 limit that MSE Eligibility Checker gave me a 0% chance. So it may be worth a try. But I did use the bank's own pre-check before I made the formal application. The pre-check limit matched the actual limit.

adamp87 · 3 February at 4:36PM

The checker doesn’t have the direct data from creditors.

So whilst it may be an indication you should always try a checker on the creditors website first for your chances.

Sandtree · 3 February at 5:59PM

MSE claim to have worked closely with the providers in building their checker... its up to you how close that really was and how often its repeated as criteria change, Certainly they dont have an internal information a lender may hold on you so even if the lenders did give them all their commercial secrets on underwriting it'd still be incomplete.

You will find plenty of stories of people defying the odds and getting refused/accepted against the odds but then if you've a 90% chance of being accepted it means 1 in 10 are accepted so does the exception show the percentages are off or its just the one in ten.

If you dont consider MSE (now part of Money Supermarket) to be sacred you could inevitably ask the question on if the referral fee given forms any part of the calculation

daivid · 17 February at 1:54PM

When I started stoozing (6years ago or so) I applied for any card I liked so long as the probability was over 50%. I always got the card. About two years ago things tightened, even more so since covid. Just before Christmas I was rejected by Barclay Card despite being given an 80% chance of success by their own eligibility calculator. I did get a reason (concerns I was taking on too much debt) which doesn't get factored in to the soft searches so that's fair enough. Back in June I got a card with a less than 50% chance (30 IIRC) so as others have said even if the predictor is accurate it doesn't mean you won't be the exception (either way!).

NaughtiusMaximus · 23 February at 1:56PM

Take the MSE eligibility checker with a large bucket of salt.

I have twice been rejected for cards from 2 different providers where I was rated 95% but accepted for one where I was only given a 30% chance of approval.

ReecesWaffle · 23 February at 3:16PM

NaughtiusMaximus said:

Take the MSE eligibility checker with a large bucket of salt.

I have twice been rejected for cards from 2 different providers where I was rated 95% but accepted for one where I was only given a 30% chance of approval.

I was also accepted for a card with a 30% chance. It’s a good guideline but not always 100% accurate:

Farfetch · 23 February at 5:08PM

30% chance of approval and 95% chance of approval both mean, statistically, that there is a chance you will get approved.

HarryDavies01 · 23 February at 5:15PM

I always look on the MSE eligibility checker for the best card then use the card's own eligibility checker before applying just to be sure. A few times I was 90% or 95% likely to be approved on MSE's checker only to be declined.

NaughtiusMaximus · 23 February at 6:41PM

Farfetch said:

30% chance of approval and 95% chance of approval both mean, statistically, that there is a chance you will get approved.

Yes it does, but if we're on the subject of statistics, in my case:

5% chance of being declined for card A
5% chance of being declined for card B
30% chance of being accepted for card C

The percentage chance of ALL of those occurring is 0.075%, or 1 in 1,300.

How accurate is MSE's Eligibility Checker?

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How accurate is MSE's Eligibility Checker?

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