MSE credit card eligibility checker pre approval

Sittingonabar · 6 March 2018 at 10:53AM

Hi all!

My credit rating wasn't great about two years ago and I've put some time into building up a good history of payments (mainly through using Cashplus credit builder).

I'd like to move on to a "proper" credit card as the cashplus fees are relatively high!

I used the MSE credit card eligibility checker and was told I was 'pre-approved' for a Capital One credit builder card.

I've had bad experiences with these types of 'pre-approval' offers in the past where I've then applied and been rejected negatively affecting my credit history with a hard search.

Are the MSE 'pre-approval' offers more certain than the marketing offers Credit companies send out?

I know there's no way to know 100% but what could potentially get me rejected aside from the obvious like failing fraud checks etc...?

I'm also slightly worried as I defaulted on a Capital One card many years ago and am not sure if they'd use that to reject my application?

Thanks!

[Deleted User] · 6 March 2018 at 11:14AM

No - it's still not certain.

And 1 hard search will lose it's relevance over time

GM1880 · 7 March 2018 at 4:12AM

On a similar topic, i!!!8217;ve Spent the last 18 months really trying to clean up my credit file. From 3 defaults, a CCJ and not a lot of credit history, and only being able to get a Vanquis £500, now £1500 limit (and latterly a Barclaycard Platinum £800 limit) i!!!8217;m now in a position where the CCJ has been set aside by the court, two defaults have dropped off leaving just one settled from 2014. I had hoped this would mean I could ditch the Vanquis and get a better card with a sufficiently high limit to use to buy flights etc to get S75 protection, but MSE eligibility checker!!!8217;s still just giving me the same options, albeit with a marginally better chance of success.

In the experience of those of you on here who know a bit more about it. Does that seem right? No adverse aside from an old settled default (though appreciate that's serious) , albeit 2 new credit accounts opened in the last 6 months. No late payments, etc with a c.£60k salary.

MABLE · 7 March 2018 at 11:22AM

Sittingonabar wrote: »

Hi all!

My credit rating wasn't great about two years ago and I've put some time into building up a good history of payments (mainly through using Cashplus credit builder).

I'd like to move on to a "proper" credit card as the cashplus fees are relatively high!

I used the MSE credit card eligibility checker and was told I was 'pre-approved' for a Capital One credit builder card.

I've had bad experiences with these types of 'pre-approval' offers in the past where I've then applied and been rejected negatively affecting my credit history with a hard search.

Are the MSE 'pre-approval' offers more certain than the marketing offers Credit companies send out?

I know there's no way to know 100% but what could potentially get me rejected aside from the obvious like failing fraud checks etc...?

I'm also slightly worried as I defaulted on a Capital One card many years ago and am not sure if they'd use that to reject my application?

Thanks!

Perhaps the issue was when they did the final checks. Also the eligibility checker details need to marry up with the actual application submitted to Capital One. If there is any difference then this could be a reason for rejection.

shortcrust · 7 March 2018 at 2:48PM

I've been 'pre-approved to apply' or some such, but never simply pre-approved in a mail out. Are you sure the marketing stuff is really saying pre-approved? I think they send it out to everyone.

I think pre-approved on the checker is a pretty sure thing. Why not give it a try? As Gary says, one search isn't a big deal over time.

[Deleted User] · 9 March 2018 at 12:43AM

I got a "pre-selected to apply" from Aqua recently... which was funny, because I already have one of their cards, and they won't budge on the limit (or give me an Amazon platinum). It's easy to see why people could think that was pre-approved though

Cap1 pre-approved are fairly certain as long as your information matches up (e.g. legit address, salary etc). I'd go for it, assuming the details you entered into MSE are correct, Cap1 will take you.

GM1880, when was everything updated? You need to give it at least 4-6 weeks. Also some of these sites cache the results (potentially for up to 90 days, but realistically a few weeks) - so you need to wait for your file to update AND the cache to expire. Sign up to something like clearscore (to check your Equifax) and the MSE Credit Club to check your Experian.

GM1880 · 9 March 2018 at 1:58AM

Somerset_La_La_La wrote: »

GM1880, when was everything updated? You need to give it at least 4-6 weeks. Also some of these sites cache the results (potentially for up to 90 days, but realistically a few weeks) - so you need to wait for your file to update AND the cache to expire. Sign up to something like clearscore (to check your Equifax) and the MSE Credit Club to check your Experian.

Thank you. as part of my attempts to clear up my file I'm on every conceivable website for checking credit files and been very proactive in terms of ensuring everything's up to date. Equifax/Experian/Noddle are all up to date without the CCJ, Clearscore/MSE CC both not updated, but sure they will be on the next update. The Cache thing I don't really understand.

GMac14 · 9 March 2018 at 9:32AM

Although I dont have any CCjs on my file, mt credit file is a mess, so I was also looking to get a credit builder credit card, not held a credit card for over 6 years. I used the Martin Lewis recommended cards and was advised I had a 70% chance of obtaining Marbles credit card, 70% chance of obtaining Capital One credit card and 30% chance of getting the lowest level Barclaycard.

I applied for Marbles and Capital One and was accepted with credit limits of £300 and £200, I also applied for Barclaycard (banked with Barclays 10 years so may have helped/never been overdrawn) and was amazed to be accepted for that as well, £250 limit.

All 3 cards used monthly just for fuel, so £50 odd per month on each card paid off in full every month.

Hope this helps.

Im looking to increase mt credit limits on the 3 cards but still use minimally and pay off in full, whats the best plan, wait until I have around 4 months of clearing balance in full then request an increase?

[Deleted User] · 9 March 2018 at 10:36PM

GM1880 wrote: »

Thank you. as part of my attempts to clear up my file I'm on every conceivable website for checking credit files and been very proactive in terms of ensuring everything's up to date. Equifax/Experian/Noddle are all up to date without the CCJ, Clearscore/MSE CC both not updated, but sure they will be on the next update. The Cache thing I don't really understand.

Haha, sounds like me after my problems!

Cache is basically computer speak for 'remembering' the last result. So it doesn't bother to check again. For example, let's say MSE pay HD Decisions (the company that provide the eligibility results) 1p per 'check'.

If you request today, it costs them 1p. If you request again tomorrow, it costs them another 1p. If you go crazy and fill in the form 20 times in 1 week, it costs them 20p.

With a cache, the first set of results (from today) are 'remembered' for so many days - say a week, 2 weeks. The limit is 90 days, which is set by the industry "standards" with SCOR - the people that essentially enforce them.

As it wouldn't be fair if you checked on MSE today, then they held that same check for a year but didn't tell you, so you get inaccurate and misleading information on a future check.

I doubt any sites cache for the full 90 days - their money comes from you using their service and clicking through to apply for X card. They must try to strike a balance

Some websites are very clear when the results were generated - I think it's Uswitch that said my results were as generated on 26th February.... when I checked a few days ago. However most sites aren't as far as I've seen. I can't speak for MSE.

TotallyMoney/Clearscore seem to refresh at least every day - they state pre-approval is only valid for 24 hours, and my results have changed from 1 day to the next.

It's fair to assume that all sites cache to some extent - for financial reasons (stopping us costing them lots of money if re-checking) but also performance reasons for their servers - they have to deal with all the 'checks', so need to filter out repeated ones. It's just a case of how.

Realistically it's all theoretical anyway - Wait a few weeks and you'll see the most up to date version. I'd personally use the one from within your MSE Credit Club rather than the standalone one, then you can be sure it's refreshed

GMac14 wrote: »

Im looking to increase mt credit limits on the 3 cards but still use minimally and pay off in full, whats the best plan, wait until I have around 4 months of clearing balance in full then request an increase?

NewDay (Marbles) are hit and miss, but you can generally request every 4 or 6 months depending on which card you have. Worst they can say is no, and pretty sure they don't credit search you. You have to email in the request. If you do it too soon they are quite good at saying no, try again from XXXX date.

Capital One - you can request online within the servicing area.. You won't get one within the first 6 months UNLESS they write to you and offer you one (I got offered an increase after about 5 months - then emailed and said "I got my letter today.... XXX is far away, can you just put the limit up now instead of on XXX?" and they did!)

Not sure about Barclaycard, it's been years since I had it. Out of those 3 companies, Barclaycard is the best one to have in my view. As you progress (talking 12 to 18 months down the line), there's a potential for you to get another better card, especially as the bad stuff on your file drops off

Tommo1980 · 10 March 2018 at 10:00AM

With Barclaycard, you can request a limit increase from within the app. You will get an answer straight away and no credit search. I had £400 limit, left it 6 months and requested a £1000 limit. Offered £800 in the app, and once I accepted it was applied straight away.

Marbles have offered me regular increases by post. I started with a low limit, but now have £3500. I never had to ask, just accepted the increases when offered. No additional credit searches recorded from Marbles.

MSE credit card eligibility checker pre approval

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