New Natwest current account customer wanting balance transfer card

Half_Price_Sky · 14 October 2019 at 12:10AM

I have a debt of £2,800 on a Santander purchase card (my first and only credit card) which needs shifting before the interest free period runs out early next month.

I switched current accounts two weeks ago to Natwest for both the £150 bonus and to qualify as a customer for their 0% 23 month balance transfer card.

I used Natwest's eligibility checker tool this evening and it told me I only have a 'fair' 4/10 chance of being accepted for the card, which I was quite surprised at as I've a low mortgage and my income means I'm easily able to pay the debt off within the time period.

I immediately tried MSE's eligibility tool and was mortified when that told me I had 0% chance of being accepted for the same card. It also gave me 0% chance on Virgin Money's cards too.

There were some other decent looking cards such as MBNA, Barclaycard and Halifax which MSE tells me I have a 90-95% chance for, but Natwest looks the best deal and that's the one I'd been planning on and would prefer to apply for.

Have I made a mistake by delaying becoming a Natwest current account customer until shortly before needing to apply for their credit card?

Ben8282 · 14 October 2019 at 1:28AM

The Natwest eligibility checker should be viewed as the more reliable.
If you want the card, just apply for it and see what happens. Nobody can really predict if you will get it or not. You apparently have a 40% chance.
The fact that you currently only hold one credit card may not be viewed favourably, especially if the balance is high in relation to the credit limit.
I obviously have no idea of your credit history but these eligibility checker results look a little odd to me. Natwest and Virgin 0% - Barclaycard, MBNA and Halifax 90-95%. It almost looks to me as if this eligibility checker is trying to push you in certain directions.

You are right that this new no fee 23 month 0% balance transfer card that Natwest are offering is a good deal. A very good deal in fact. With that in mind, consider the likely volume of applications for this card which could mean that Natwest may be rather choosy when it comes to giving out this card.

surreysaver · 14 October 2019 at 3:29AM

Do you use online banking for NatWest? The application process requires you to provide your log in details. I've applied for this BT card. Didn't realise there was an eligibility checker - I would have used that before to see what it said if I had realised it existed!

[Deleted User] · 14 October 2019 at 7:49AM

If you “easily have the funds” to pay it off then why isn’t it paid off at this moment in time?

General_Grant · 14 October 2019 at 9:13AM

!!! wrote: »

If you “easily have the funds” to pay it off then why isn’t it paid off at this moment in time?

Opportunity cost, I presume.

Have the funds earning interest elsewhere.

PRAISETHESUN · 14 October 2019 at 9:59AM

It's possible that the recent hard search could be impacting your eligibility. Alternatively you might just not fit the profile of the type of customer NatWest want for their credit cards. You could try applying as you still have a "40%" chance, but it'd probably be better to apply elsewhere in my mind and then coming back to the NatWest card down the line.

phillw · 14 October 2019 at 1:59PM

Half_Price_Sky wrote: »

I immediately tried MSE's eligibility tool and was mortified when that told me I had 0% chance of being accepted for the same card. It also gave me 0% chance on Virgin Money's cards too.

Maybe they are worried that you will pay your bill on time every month and then clear the balance at the end of the term.

New Natwest current account customer wanting balance transfer card

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