Refused credit by Apple/Barclays

prowla · 17 January 2019 at 11:00PM

Last weekend, on a whim, I decided I'd like a new iPhone, so I went to the Apple Store and started to arrange to buy it on their 20-month 0% plan with the AppleCare & annual upgrade option add-on.

I was very surprised when the assistant informed me that my application for credit (with Barclays) had been rejected.

So, on getting home I signed up to the MSE Credit Club and gave it a few days for the account to get set up.

I've just logged in for the first time and it tells me that my Experian score is 999/999, my affordability is V.Good, I have no CCJs, no missed payments, etc.

So, I'm perplexed as to why the application was rejected - is this a common thing with Apple/Barclays?

Pixie5740 · 17 January 2019 at 11:03PM

prowla wrote: »

Last weekend, on a whim, I decided I'd like a new iPhone, so I went to the Apple Store and started to arrange to buy it on their 20-month 0% plan with the AppleCare & annual upgrade option add-on.

I was very surprised when the assistant informed me that my application for credit (with Barclays) had been rejected.

So, on getting home I signed up to the MSE Credit Club and gave it a few days for the account to get set up.

I've just logged in for the first time and it tells me that my Experian score is 999/999, my affordability is V.Good, I have no CCJs, no missed payments, etc.

So, I'm perplexed as to why the application was rejected - is this a common thing with Apple/Barclays?

You aren't applying for credit with Expieran so that fact Experian rate you as 999/999 is irrelevant. What information does your Expieran credit file show? What about the other two credit reference agencies Call Credit and Equifax?

As well as credit history lenders also look at affordability and past dealings with them, so what is your history with Barclays like?

Gaz83 · 17 January 2019 at 11:03PM

Ignore the scores. They're fictional.

How do Experian know your affordability? They won't even know what wage you're on.

DCFC79 · 17 January 2019 at 11:03PM

prowla wrote: »

Last weekend, on a whim, I decided I'd like a new iPhone, so I went to the Apple Store and started to arrange to buy it on their 20-month 0% plan with the AppleCare & annual upgrade option add-on.

I was very surprised when the assistant informed me that my application for credit (with Barclays) had been rejected.

So, on getting home I signed up to the MSE Credit Club and gave it a few days for the account to get set up.

I've just logged in for the first time and it tells me that my Experian score is 999/999, my affordability is V.Good, I have no CCJs, no missed payments, etc.

So, I'm perplexed as to why the application was rejected - is this a common thing with Apple/Barclays?

Do they use Experian ?

They might use them but no harm in checking clearscore and Noddle.

prowla · 18 January 2019 at 7:38AM

Thanks.
I took the Experian as an indicator and would assume that there would be commonality across agencies. I would sssume that it would be unusual to have a great score on one and a prohibitively low one on another.

MallyGirl · 18 January 2019 at 7:51AM

Not necessarily- not all accounts are reported to all CRAs. That is why every thread suggests checking all 3.
You can get 999 by never taking any credit out as you have done nothing wrong yet - it doesn't make you a sound bet to lend to though as you have not demonstrated that you can do it right

prowla · 18 January 2019 at 8:30AM

MallyGirl wrote: »

Not necessarily- not all accounts are reported to all CRAs. That is why every thread suggests checking all 3.
You can get 999 by never taking any credit out as you have done nothing wrong yet - it doesn't make you a sound bet to lend to though as you have not demonstrated that you can do it right

Thanks.

At the moment I have my mortgage and a BMW PCP car loan.

I’ve just completed a 24 month EE contract (and switched to SIM only). I had another car loan complete last spring, and that’s about it. I always pay off my credit cards each month.

I guess maybe I don’t fit their demographic.

[Deleted User] · 18 January 2019 at 8:43AM

Or more likely, it could be affordability and available credit.

Nasqueron · 18 January 2019 at 10:54AM

prowla wrote: »

Thanks.
I took the Experian as an indicator and would assume that there would be commonality across agencies. I would sssume that it would be unusual to have a great score on one and a prohibitively low one on another.

Again, the score is meaningless, what matters is data and affordability.

I have 999 on MSE Credit Club (Experian) but ClearScore and Noddle have me around 75% of their top score. I have never been refused credit that I needed.

Not all lenders report to all agencies. You should check the other 2 just in case there are problems

Ilona · 18 January 2019 at 10:54AM

prowla wrote: »

Last weekend, on a whim, I decided I'd like a new iPhone, so I went to the Apple Store and started to arrange to buy it on their 20-month 0% plan with the AppleCare & annual upgrade option add-on.

This is what jumped out at me when I read your first post. Not able to control your spending is a sure fire way to get yourself in deep brown stuff. So you didn't need a phone, you just fancied one because it looked nice. Carry on like that with all your purchases and we'll expect to see you back here in a few years time up to your eyeballs in debt.

Get wise and get a grip now before you hurtle down the slippery slope.

ilona

Exodi · 18 January 2019 at 10:58AM

prowla wrote: »

I guess maybe I don’t fit their demographic.

Thank yourself lucky, this demographic you speak of would appear to be the DFW forum as it seems every single one of them has an iPhone Z 2019 MAX XL impulse purchased and think paying £70+ a month for it is reasonable (spoiler alert: this is what I pay in a YEAR on PAYG).

You say you've just finished paying an EE contract so you presumably already have an iPhone 7 or something of that calibre? Do you really need one that operates 0.001s faster and has six extra cameras? The fact you mention a mortgage and multiple car finances worries me.

Of course you could be loaded and not care, but then I don't see why you would be bother with credit on anything or be declined in the first place.

What happened to the good ol' days where if people wanted something, they'd save for it?

EDIT:

Ilona wrote: »

This is what jumped out at me when I read your first post. Not able to control your spending is a sure fire way to get yourself in deep brown stuff. So you didn't need a phone, you just fancied one because it looked nice. Carry on like that with all your purchases and we'll expect to see you back here in a few years time up to your eyeballs in debt.

Get wise and get a grip now before you hurtle down the slippery slope.

ilona

Exactly my thoughts!!

Refused credit by Apple/Barclays

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