Lloyd's Credit Card Application

It has been suggested that before making an application for a Lloyd's credit card it is worth talking to someone in branch as they can usually see on their system/your customer records whether you are eligible. I had reason to be in branch last week and asked about the possibility of obtaining a card. The cashier said that I would be eligible with a credit limit of £4000 and 'did I want an appointment to complete an application?'.

I was about to apply online today but thought I'd have a quick check of my eligibility with the MSE eligibility checker which stated that Lloyd's have supplied details of their current account holders to aid with eligibility checking. Result came back 0% chance for all Lloyd's cards and most others. The eligibility checker on the Lloyd's site also indicated that I am ineligible.

ps. I've posted here as although this is related to stoozing, that thread sub forum is not visited often.

I do hold 7 cards already (only 1 with Lloyd's banking Group) with available credit in excess of my income and a balance of around 75% of my income.

Is their in branch/customer record system likely to give the best indication of acceptance?

I'll add that a previous declined application resulted in no credit check being done which suggests tht at least some decisions are made without reference to or at least a full check with the CRAs.

I could do with another 0% BT card to rebuild my stooz pot (it's dimished since earlier in the year) and currently have an offer from MBNA which will allow me to do so.
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Comments

  • The in branch information (same in internet banking) is subject to a credit check - pass that and you should have no problem.
  • Rich7111
    Rich7111 Posts: 54 Forumite
    Don't pay too much attention to the Checker, I tried both MSE and Lloyds checker both came back as 0% and not eligible, I do have 2 very old defaults (dropping off this month) and one from 2013 (settled) but wanted to try and clear some of my Sub Prime cards so I just went ahead and applied. I was approved and with a very high credit limit (although the APR was 27%) I still got 18 months 0% balance transfer.

    So don't worry too much about the eligibility checker, to be honest I can't remember when they have ever been right for me, they claim I had a 95% chance of a card and was rejected, and they have said 0% for LLoyds, Bank Of Scotland and Barclaycard and all have given me cards with over £5k in credit limits.

    Go ahead, apply in branch or online
  • Candyapple
    Candyapple Posts: 3,384
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    TheShape wrote: »

    Is their in branch/customer record system likely to give the best indication of acceptance?

    This is just from my experience - I currently hold 2 credit cards one with Halifax and one with Lloyds. I too went into a branch and enquired about limit etc and was shown what that limit would be on their screens. I then went home and applied online (I think there was cashback available at either Quidco or TCB for doing so) and was accepted for the card I applied for and the limit was exactly the same as what I had been shown in branch. I have done this twice with Halifax and Lloyds and both times the limit has matched what I was shown in branch.
    I'm a Board Guide on the Credit Cards, Loans, Credit Files & Ratings boards. I'm a volunteer to help the boards run smoothly, and I can move and merge threads there. Any views are mine and not the official line of moneysavingexpert.com
  • TheShape
    TheShape Posts: 1,777
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    Candyapple wrote: »
    This is just from my experience - I currently hold 2 credit cards one with Halifax and one with Lloyds. I too went into a branch and enquired about limit etc and was shown what that limit would be on their screens. I then went home and applied online (I think there was cashback available at either Quidco or TCB for doing so) and was accepted for the card I applied for and the limit was exactly the same as what I had been shown in branch. I have done this twice with Halifax and Lloyds and both times the limit has matched what I was shown in branch.

    When asked what limit would be useful to you, did you enter the same amount as indicated in branch?
  • Candyapple
    Candyapple Posts: 3,384
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    TheShape wrote: »
    When asked what limit would be useful to you, did you enter the same amount as indicated in branch?

    I probably would have rounded it up to the nearest thousand (as in my limit given in branch was £6.5k and I would have asked for £7k).
    I'm a Board Guide on the Credit Cards, Loans, Credit Files & Ratings boards. I'm a volunteer to help the boards run smoothly, and I can move and merge threads there. Any views are mine and not the official line of moneysavingexpert.com
  • starM
    starM Posts: 1,464 Forumite
    If you log into your Lloyds Internet Banking and select the credit card you would like to apply. On the application page "view page source" it will tell you if you are guaranteed for a credit card. If you continue with the application there would be no credit check.

    MSE eligibility checker is only accurate if you apply for a credit card with the bank who you don't already hold a bank account with.
  • TheShape
    TheShape Posts: 1,777
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    star25M wrote: »
    If you log into your Lloyds Internet Banking and select the credit card you would like to apply. On the application page "view page source" it will tell you if you are guaranteed for a credit card. If you continue with the application there would be no credit check.

    I'm not sure what I'm looking for?
    star25M wrote: »
    MSE eligibility checker is only accurate if you apply for a credit card with the bank who you don't already hold a bank account with.

    That will make it rather inaccurate for me.
  • starM wrote: »
    If you log into your Lloyds Internet Banking and select the credit card you would like to apply. On the application page "view page source" it will tell you if you are guaranteed for a credit card. If you continue with the application there would be no credit check.

    Wow their source code is an absolute mess. At least Nationwide is easy to see!

    I cant find it either on 1st or 2nd page. Clicked through to the 2nd page (one before the credit search, where you consent to data sharing etc) and searched the code for decline (since that what it'll be....) and nothing appeared.
  • starM
    starM Posts: 1,464 Forumite
    Wow their source code is an absolute mess. At least Nationwide is easy to see!

    I cant find it either on 1st or 2nd page. Clicked through to the 2nd page (one before the credit search, where you consent to data sharing etc) and searched the code for decline (since that what it'll be....) and nothing appeared.

    I think the way it works - when you view source code it will tell you if it is "Guaranteed credit card offer". If it does then no credit check will be applied.

    If it says "Credit card application" then it is not guaranteed offer however when you submit application full credit check will be carried out.
  • starM
    starM Posts: 1,464 Forumite
    That will make it rather inaccurate for me.[/QUOTE]

    This is because MSE or Lloyds eligibility checker does not take into account the history and running of your Lloyd's account. Your Lloyds accounts creates a risk band and depending on your internal score you are offered the facility.

    See some old forums regarding this http://forums.moneysavingexpert.com/showthread.php?t=4156561

    If you close your Lloyds account and then apply for Lloyds credit card then your application more likely be declined.
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