Nationwide Soft-Search

A question about : Nationwide Soft-Search

Hi Guys

I recently did a Nationwide soft (i.e. only to point of quote) application - for both a credit-card (potentially want a 0% card) and loan (just out of curiosity).

I read on another thread that if you got quoted 24.9%APR for their loans, you would be declined once the hard (i.e. fully scored) check was done. This was because 24.9% was the highest APR the system could quote and meant a too low score. My loan quotes varied between 8-12% (depending on amount and term), so seem ok.

When I did the credit card application, however, it quoted me a limit of up to Ј3800 but at 19.9% APR - their highest. Do you think this is an indication that the credit card would be ultimately declined?

As a kind of self-test, my partner (with an awful credit rating) put in soft applications and also got quoted 19.9% but a Ј500 limit on a credit card. This, I think, would be more indicative of their default setting for low scores on credit cards. They were quoted 24.9% on loans - which I would have expected (if the above is correct).

What do you think?

p.s. I have access to my credit reports and all is fine to the naked eye (all green, no late payments, not heavily indebted, electoral role, old and new accounts, few/no recent searches etc)

Best answers:

• They accepted me for the card at 19.9% and a 2k limit. I think Ј500 with that APR would be a decline.
• How do you get the soft search?
• its on the application page
• Simax
  Is this the same APR and limit you were quoted before proceeding to the "hard" search?
  Cheers?
• I wish more lenders would make use of the soft search.
• So am I right in saying that the only two lenders who offer the soft search option for credit cards are Nationwide and Barclaycard?
• I just used the Nationwide soft search for their CC (i'm also a flex account holder) and was offered Ј2k @ 9.9% (after 6 months). Do I take it that I have a good chance of being accepted? We have a wedding trip coming up next summer which we may want to use the 0% purchase offer for (instead of losing 6 months' interest on our savings).
• Do you have to bank with them to get their CC's? Always wondered if that was the case?
• I can't see an option for doing a soft search at Nationwide, just a full application.
  Am i looking in the wrong place?!
• IS it that 'No obligation quote'?
• The soft-search is done by the normal application form. You fill out the forms about your details, your home, your job and other credit accounts, and then they will give you a no obligation quote. At this point, they will have searched your credit report (Experian, I think) but it will be marked as a quotation and so won't show negatively to other lenders. Once you see your quote, you can decide not to take the application further.
• Hmmmm.. Nationwide have quoted my 9.9% with a limit of Ј2800.
  Should i complete the application, or will i get declined once a full search goes through?
• I applied, but they're sending a credit application post for my to sign...it that standard?!