Barclaycard Platinum 0% int 25 months, 0% fee.

nic_c · 27 August 2018 at 3:28PM

First of all saying he has a 999 score is irrelevant, as you have found out means zilch. What Experian or MSE says about your chances of success is purely based on observation on whether similar people have been accepted (it says in the small print) they don't know whether you will get accepted, just how likely you are to)

There could be a variety of number of reasons it gets referred, could be something amiss in the application form (such as a larger income than stated on other applications), or that your case has been randomly chosen for checking by a person (to make sure their auto approvers are working as expected).

When did he apply, bearing in mind we are on bank holiday weekend. You are probably over worrying because you didn't get the instant answer you expected.

Gollygumdrops · 27 August 2018 at 3:33PM

zx81

Yes I do. We are looking to transfer a "chosen" debt of £1,500. We have no other loans; no mortgage, no kids at home, no carer fees, just the normal monthly costs of living. We can save easily £2/3K a month from his salary, alone.

So what wouldn't be enough?

[Deleted User] · 27 August 2018 at 3:37PM

You'ideally be looking at it beginning with a 5 or 6, depending on lender. However, it very much depends on what they're seeing, which is why checking all three files is important.

Gollygumdrops · 27 August 2018 at 3:47PM

Hi nic_c

Thanks for your reply. Yes I now realise that having 999 score means absolutely nothing. Why does MSE even bother with it?
What is also apparent is the fact that for 35 years of working, never being in debt, being on the electoral roll, paying bills on time, paying-off the mortgage and having a well paid job means absolutely nothing to these banks/credit agencies.

"You are probably over worrying because you didn't get the instant answer you expected."

It's not a problem of over worrying - they stated on the application form that we should know the result within a minute of applying!

What is the point of using MSE Experian, being told you are 100% likely to get the card and should be confirmed in a minute for them to say that you have to be checked out?
What do they need to check?
My husband was born here, has had bank accounts for 40+ years, has always been on the electoral roll, had a mortgage since he was 21 years old, never had debts, pay bills on time etc. etc.
How on earth do newcomers manage to get bank accounts and cards? Yet they inevitably do!

Gollygumdrops · 27 August 2018 at 3:49PM

Hi again zx81

Sorry are you saying that anyone must be looking at earning £50/60,000 to get a credit card for a balance transfer of £1,500?

My husband does earn more but, if what you say is correct, then the world has really truly gone barmy - lead by our banks!

[Deleted User] · 27 August 2018 at 3:53PM

No. Not at all.

I'm saying that you appear to have £25k of available credit. Lenders will need to consider how you might repay if you used it all, as well as anything else they give you.

Gollygumdrops · 27 August 2018 at 4:44PM

Just to continue - I have also signed up and checked what is on our Equifax file and basically it is the same as Experian. Nothing showing except the current £1,500 credit card debt.

Interesting though is that both of these Credit Agencies do not take into account our main High Street Bank Account, (where hubby's salary is deposited) or that Credit Card, which is paid-off monthly?

Can someone advise why the Credit Agencies do they not take this bank into account when most of our dealings are in and out of this one and we have had this account for over 30 years?

Gollygumdrops · 27 August 2018 at 4:54PM

zx81

The reason for the new 0% debt transfer is because we do not want to pay any interest on the £1,500.

If these banks think logically (?) by transferring the balance to the new Barclaycard, this generally means that the customers will no longer use the current one, particularly if it means having to pay interest!

Hubby signed up and told them he wanted a balance transfer. If we had wanted to use the £15,000 on offer we would have done so during the interest free year and not now that it has ended!

Like advised by MSE and others, this current credit card account would be closed down by hubby, after the balance transfer, therefore negating the £15K available.

[Deleted User] · 27 August 2018 at 5:04PM

They'll think logically, but they will also think from experience and risk rates.

Closure of other accounts cannot be made a condition of the acceptance, so cannot negate the 15k until done.

Gollygumdrops · 27 August 2018 at 5:05PM

Hi Willing2Learn

The application form that my husband filled in was via the MSE Experian site and so it didn't require him to fill in all outgoings.
There was just an expenditure section which specifically asked about childcare, school fees, elderly care or any dependents with disabilities etc. none of which applied to us.

Any way, we will probably cancel our application and pay off the current credit card debt, as the whole reason for obtaining it was to enable us to gain entry into this ridiculous credit score world, without us having to be scrutinised and checked over every single application.
The system obviously hasn't worked for us.

Barclaycard Platinum 0% int 25 months, 0% fee.

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