I just had a look online and this is what it says.

There are no pre-approved offers available to you based on the information we have today. However, you may be able to arrange an overdraft or loan by completing a full application:

' No Barclayloan offer is available today but you could
complete a full application'

'No overdraft offer is available today but you may be able
to apply by contacting your branch.'

What is the difference betwen pre-apporved offers and actually applying then. It says i can still apply but it says i am not pre-approved?.

If i was'nt pre-approved then why would they suggests applying anyway?

Hi Johnni, glad it helped. When you look on your pre-approved offers it'll say if you can get a Barclayloan as well, this info is the same as the limits they have for you in branch. Because it's preapproved this is what they have decided before you even apply, so if says you aren't eligible, definitely don't apply! Each application will leave a search mark on your credit file, and if you make too many this causes your score to drop as I'm sure you're aware. My advice to you Johnni would be check out the pre-approved offers page, stay in your overdraft limit, and if it doesn't say you can have anything keep checking it every month or so. Looking at this doesn't show on your credit file and will save you wasting searches! Best of luck!

Thx for the advice worried, really cleared things up. I'll have a look on my online banking to see what i am pre-approved. I don't think i will ask for the overdraft increase anyway as i donlt earn that much.

One thing i wanted to ask, when you said they have limits on Barclayloan and they can tell you if you'd get it. Is this when you actually APPLY? or just a query.
One thing i noticed was when i applied in my branch the lady put all the details in the computer and it was like she was waiting for a decision by the system, she said she is waiting for a decision ( so obviously she did'nt make it) she waited a while and then it appeared on the screen that i was unseuccesful.

Does a loan app create a search on my credit file btw?

This has been on my mind since i was rejected but in your opinion was i rejected beacuse i was over my OD limit 3 times or a number of other factors also. I don't want to wait as they suggest 3-6 months when my account is back upto scratch to only find i get rejected again cos of something else.

I have seen my credit file and my score is not great mainly cos of previous loans applications i have made from Aug-Nov, my accounts i.e direct debits are all fine.

Johnni,

The 5k is just the maximum they'll allow for anyone with the same account as yours. It doesn't mean you're pre-approved for that unfortunately. To be honest with you, a leap to £4000 from £250 is huge, and I can't see that you'd get that amount unless you had wages going in each month to clear that amount. In my experience they calculate your overdraft limit by what amount you go back into credit each month. If your wages don't cover your overdraft (and they'd have to be great wages to do that!) you won't get an amount like that. If you have online banking you can look up your pre-approved offers on the left of the balances screen. If you don't, go in an see a personal banker and ask them what you're entitled to. When I worked for Barclays they'd give you 'limits' based on how you ran your account, which meant they'd know what you were allowed before you applied. They also have limits for Barclayloan which means they can tell you if you'd get your loan. It won't take a credit search, but I'd definitely do that rather than just apply.

You need to think about if you could afford to pay back a 4k overdraft and have the discipline to clear it, you're not meant to have an overdraft and go right to your limit each month. Could a loan from another company be an option, or is it necessary? You could get a copy of your credit report for free from creditexpert which would see if it's worth looking elsewhere.

Good luck, and sorry this is long-winded, hope it's helped you!

lili24:

Have you applied for it and been declined or didn't you go through with it? If they say no to increasing it to 4k straight away perhaps you should increase it to whatever they will allow you, and then use it wisely. After a few months they may increase it to the 4k then?

I started off with a low one and have increased it gradually over time.. (wish I hadn't now though as it's hard to get out of!)

x

I didn't go through with it after being told that i probably won't get it as i went over my limit in the past yr. I was also told the same when i got rejected for Barclay loan in Nov 07. Although they could'nt give me a reason the lady at my branch said it was maybe cos i went over my limit and to wait 3-6 months. It's now been 4 months and i might apply again for the loan actually but if i am unsuccessful with that should i apply for the overdraft straight after?. Will it hinder me if they see that i was just turned down for a loan and he's applying for a overdraft increase?

Alss could someone explain what a pre-approved overdraft means. I asked Barclays what is the maximum amount i can increase for my type of account, they said 5 grand. Does that mean i am pre-approved or just the set amount for a current account

Have you applied for it and been declined or didn't you go through with it? If they say no to increasing it to 4k straight away perhaps you should increase it to whatever they will allow you, and then use it wisely. After a few months they may increase it to the 4k then?

I started off with a low one and have increased it gradually over time.. (wish I hadn't now though as it's hard to get out of!)

x

Johnni, why not call them and ask if you are pre-approved, simply ask the question "do I have a pre-approved overdraft and if so, for how much?" If you're worried about the credit search sitting on your file, then tell them that you don't wish them to conduct one.

It seems that many people fear credit searches being done on them because it will sit on their file and I, personally, wonder where this is going to end up. There are so many people who, at various stages of their life, need to apply for credit for various things or have a credit search on them, even paying your insurance on instalments can result in a credit search being carried out on you. Also, if for example you miss a credit card payment, possibly just as a result of an oversight, your credit report is given a 'black mark.' There will surely come a day when to have a positive credit report is rare and the banks and institutions carrying out these searches will have to review matters. Am I seeing this correctly guys? I know some of you are a lot more in the know than I on these things. Please enlighten me.

I hoped the same also Lilli but i think they could check your credit file when u apply over th phone i think too. After i verified my details over the phone the lady already knew i had been overdrawn 3 times so she must have seen my details on the pc and maybe can search my credit file also instantly.

I don't know whether i am pre-approved for a larger overdraft jjnaughalty but when i asked what the max amount it can be on my account she said the max amount is 5000. How do i find out if i am pre-approved

I don't think they do a new credit check, I think they decide on the information they already have on you as a customer. When I increased mine by £500 I done it over the phone, didn't even go into a branch or fill out any forms. She simply asked me a few questions like why I wanted to increase it and then decided on the phone. It was done in minutes and applied right away, although it may be different for you because you want to increase it by such a large amount. You can only try.. the fact that you have gone over your £250 limit 3 times suggests that you would probably benefit by having a bigger overdraft, so they may give you it!

Good luck.

Hello - In my experience with Barclays, they are quite proactive in regards having a pre-approval system whereby if you bank with them, you can ask what loan/overdraft you are pre-approved for.

I can't answer your question about the application method going on a credit search but logically, I think that unless you are pre-approved, you are likely to be subject to a good 'checking' with said credit reference agencies.

JJ

In most cases, a credit search is needed to obtain an overdraft. If they do perform that search, then yes it will appear on your file.

Hi

I want to increase my overdraft from 250 to 4000 with Barclays however in the past 12 months i have gone over my 250 limit 3 times. When i rang up Barclays they said before i applied that i may not be successful because of this. Will a application to increase a overdraft show up on a credit report and thus affect my score if i get rejected?.