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Online Credit Card Application Referral


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Thought it time I paid off and ditched my Vanquis card.

 

Do not get me wrong it has been great with my credit profile. Had it for about three years, never missed a payment and have a Three Grand credit limit.

 

So much for customer loyalty though, they point blank would not negotiate the APR, 59.9%

 

So yesterday applied for a BarclayCard, eligibility checker stated 95% chance of being accepted. Went through the application, Digitally signed for it to come back as referred.

 

Strange as 12 months ago did the same with Capital One and was instantly accepted with a two grand credit limit. Never missed any payment with any of my credit obligations for the last three years. Credit scores from the credit agencies mean SFA as each credit company have their own lending criteria.

 

Now i know this is simply the automatic computer process wanting manual intervention from a human being. This was not an outright No and will be probably be accepted, But:

 

What causes these referrals as a matter of interest??

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Each bank has its own criteria for acceptance. it may be 95% of getting accepted but you likely fell within the 5% that they refer to their internal review department. That means they check things manually to see if you will be accepted, as you are probably right on the line of being accepted or declined.

 

The referral is usually something on your credit report or your Income/outgoings. It could even be where you live. That means the automatic system flagged something up. You'll never be told what this was, but it still affects your credit file non the less.

Any advice i give is my own and is based solely on personal experience. If in any doubt about a situation , please contact a certified legal representative or debt counsellor..

 

 

If my advice helps you, click the star icon at the bottom of my post and feel free to say thanks

:D

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