Lloyd's Credit Card Application

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  • 20aday
    20aday Posts: 2,610
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    If I remember rightly Lloyds Bank have 1-10 (one being the 'best') and CPD meaning credit policy decline (or words to that effect).
    It's not your credit score that counts, it's your credit history. Any replies are my own personal opinion and not a representation of my employer.
  • TheShape
    TheShape Posts: 1,777
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    I will get around to applying for this card by the end of the week and will update with the result.

    While making a payment in the app yesterday, a 'you are highly likely to be accepted for a credit card' message was displayed.
  • zerog
    zerog Posts: 2,478 Forumite
    Hmm, no credit check with Experian was carried out when a branch staff told me I was guaranteed a CC back in 2011 and I subsequently applied online.

    But I applied for another Lloyds CC in October, and the eligibility checkers all said yes, and I got the limit I asked for (should have asked for more!) but an Experian search was recorded.

    I've had a Lloyds current account since 2009
  • EachPenny
    EachPenny Posts: 12,239
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    TheShape wrote: »
    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 had the same thing when I went to a Lloyds branch a couple of weeks ago. I just asked about eligibility in passing and was told they could check on the system. The answer was 100% guaranteed. I queried this, but was assured there would be absolutely no problem. Made an appointment to go back later.

    The appointment lasted 2 minutes - the first question was 'what do you do for a living?'. Despite Lloyds knowing my employment status and income (I was shown it on the screen) what they accept as income for credit card purposes is more limited. Employment, pension, property or benefits counts. Savings and investment income doesn't.

    I was told that they need the customer to have a regular income to repay borrowings. When I pointed out to the CSA that her 'regular' salary might stop at any time, whereas my income will only fail if there is a total banking meltdown, it was explained that the latter was a possibility they had to consider :eek:

    I didn't waste my time pointing out if the latter happens then the former was very likely too, and would probably happen first ;)

    So don't believe the 100% or 'very likely' claims... it is still subject to application and checks.

    Hope you are more successful :)
    "In the future, everyone will be rich for 15 minutes"
  • You mean a banking meltdown such as happened in 2008 when Lloyds Bank lost 90% of its value and shareholders had no dividends for 8 years?

    Things like this can and will happen however 'safe' you think your investments are.
  • EachPenny
    EachPenny Posts: 12,239
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    You mean a banking meltdown such as happened in 2008 when Lloyds Bank lost 90% of its value and shareholders had no dividends for 8 years?

    Things like this can and will happen however 'safe' you think your investments are.

    Of course, but the income I'm talking about is from FSCS protected savings deposits. If we get to the point that is lost then it will be because of a banking meltdown orders of magnitude greater than 2008. At that point I'm pretty sure Lloyds wouldn't be that bothered about recovering a £100 credit card debt. On second thoughts.... ;)
    "In the future, everyone will be rich for 15 minutes"
  • TheShape
    TheShape Posts: 1,777
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    Applied successfully for the 33 mth 0% BT card. 0.57% BT fee but the £20 cashback will cancel much of that out.

    In branch indication of credit limit was £4000 so I put £5000 in the 'What limit would you find useful' box. Actual limit offered was £6450. Will BT balance from my Nationwide card and make use of the latest no-fee MT offer from MBNA to fill to the limit.
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