Sub Prime Credit Thread Part II

sutton111 · 28 February 2009 at 12:03AM

kiora wrote: »

Hi Sutton
I've not even heard they have done a credit search, maybe snail mail takes longer to arrive in scotland from BOI than england, maybe it takes longer for it to swim.:rotfl:

Oh, I thought that's what everyone was appealing?

What is everyone appealing then?

moyilla · 28 February 2009 at 12:50AM

Thanks Sutton, I will ring tomorrow and get them to send me the paperwork.

seeya23 · 28 February 2009 at 9:19AM

Good morning TO ALL

never-in-doubt · 28 February 2009 at 9:59AM

PROLIANT wrote: »

Look people, there is no appeal letter, I have just told you what to do, ring the number on your decline letter and ask to "APPEAL" the application. :rolleyes:

Hi

Can you confirm is this card (Ulster) part of RBS? They have put a 6month block on me opening accounts, as I have applied for a few accounts with them over the years (long story). If I apply for this card do you think it'll directly link to RBS systems and pick up the block or are they totally independant of each other?

Thanks love your helpful posts and sheep comments

never-in-doubt · 28 February 2009 at 10:16AM

I've had a couple of IM's requesting sight of my appeal letter. I totally agree with Proliant on this one, there is no set standard and each version will vary in the overall decision.

For example I appealed Barclaycard (sub-prime card with minimal credit limit) and got a flat no. I appealed BOI Gold Card and then out the blue they accepted me (BOI gold card starts with 3k minimal limit - mine was accepted at 3,8k).

My version of events are shown below to help people out;

1. I work in security so I used that to my advantage and basically copied my SIA license and staff ID card and then wrote a letter and argued that they can look at SIA website and check me out, type in my number and it would show them the process for obtaining the SIA Close Protection Licence, this would then confirm i've been criminally checked, credit checked (call credit/equifax) and background vetted for last 5yrs.

My letter contained all these elements (worded into a letter): I am trustworthy, I have stable secure job - in a secure environment which is regulated by the government, I have been vetted and if the SIA trust me then you should as well, my payslips - this confirms my salary and overtime, my bank statements show that I never use my authorised o/d and always pay my DD's on time. Then I went on to add that if they didn't reverse the original decision then i'd simply apply again in 6 months because it was the product that I fancied, not extra credit liabilities. Exact copy of letter is found here: #2327

2. I sent the above letter off with my last years payslips and a certified copy of passport along with a council tax bill and last 3 months bank statements & A copy of my Experian credit report.

3. Then, out the blue a few weeks later I got terms and pre-contract to sign but this time asking for original bill and certified copy of passport (already sent that with appeal letter so they didn't check that well) and then they'd 'progress' my application.

4. No news after 8 days so I rung them, they told me application was with underwriting, then 8 days later I got the card, a week later I got the acceptance letter (LOL) then a day later got the PIN.

Hope this helps..... basically you need to argue that you're stable, trusting and can prove it if they want you to. Kinda like calling their bluff at poker!

I blinded them with that much info, it would have been almost impossible to refuse me! I sent in total 68 pages and it cost me over 3 quid to post it to them - money well spent!

never-in-doubt · 28 February 2009 at 10:33AM

For those that want it - here is the word-for-word letter that I used to appeal my BOI decision. I base all my appeals on this template, amending bits as I see fit:

Hope this helps you out....

Card Services
Underwriting Dept
PO Box 1102
33/35 Nassau Street
Dublin 2

Dear Bank of Ireland,

Ref: NEWXXXX

I write with reference to my recent application for a Credit Card with Bank of Ireland and your subsequent decision to decline me the facility, by your own admission which, was no way reflected by adverse information on my credit file.

I’d like to appeal your original decision as I feel I can provide a written statement and additional information to support my application which I hope will allow you to possibly reverse your decision in my favour, albeit even with a different ‘starter’ product if needs be.

The basis for my appeal is as follows;

I have never borrowed in the past/No outstanding debts
Whilst some companies look at this as a bad sign, I must stress that just because I’ve never had any credit liabilities in the past, doesn’t necessarily make me a high-credit-risk. It is simply due to the fact that I am very self-sufficient in that I work, earn a salary and live quite comfortably and can manage my finances very well. I have never felt the need of obtaining credit based facilities just for the fun of it. That said I do want to swap my current credit card as I feel I have outgrown it thus my recent application to you.

I am in Secure, Government Regulated employment
I work in security, primarily face-to-face Door Supervision or Close Protection. This position, as with all regulated positions, means I had to qualify prior to being allowed to undertake my position. Part of the process of my employment was a full; Police Vetting Process, Full 5 year employment and address checks, Credit Checks (Call-Credit), CRB Enhanced check, Regulatory Compliance and passing of varying exams.

As you can appreciate, working in the security industry requires the utmost diligence and the checks carried out by both my employer and the SIA (www.the-sia.org.uk/home) come to prove my whereabouts, status and background for the preceding 5 years. This should in itself be enough proof that I am a trustworthy, loyal and honest individual. You may also enter my SIA Licence number on the SIA site for proof of validity and responsibilities.

I currently bank with HSBC as they offer a great account, ideally suited to my individual needs being I travel abroad a lot. This is also relative to my application and appeal, in that my current credit card doesn’t offer me the best rates when travelling and also doesn’t offer the same protection as Bank of Ireland does. My most recent bank statements are attached with this letter for your perusal, these also confirm my current overdraft – yet you’ll see I never use it!

As mentioned above, enclosed with my letter are the following documents;

Copy of your letter to me
This is attached to enable you to match me to my application;
Copy of Experian credit report
This is self explanatory & confirms my Electoral Roll participation;
Copy of Utility (Water) bill
This confirms my address details;
Copy of Council Tax bill
This confirms my address details;
Copy of Licence/Staff I.D cards
These 3 passes are my SIA License, staff I.D card & NAME DELETED staff I.D card. Notice on my NAME DELETED staff I.D card the number XXXXX, this is also shown on each pay-slip, also attached;
Most recent Pay-Slips
These Pay-Slips date between 21.11.2007 and 16.01.2009 and the weekly pay amounts will reflect on my HSBC Bank Statements;
Copy of Debit Card confirmation
This is my recent letter from HSBC when they sent me a new debit card, proving I have a 3in1 Cheque Guarantee/Maestro card;
Copy of Bank Statement
This is my most recent HSBC Bank Statement; the credits shown will match my Pay-Slips and salary as notified on my application;

With my explanation and additional proof of person, employment, salary, banking and residence I hope you can adjust the original decision to a positive one in my favour. And give me a chance to show Bank of Ireland that I am a good customer, loyal and trustworthy.

If you cannot override the decision for the product applied for, can you authorise an alternative inferior product – if you give me a chance to prove myself then I’m sure you’ll be happy in the long run all the while retaining a very valuable customer.

I look forward to your response, hopefully with better news than last time, and to a future business relationship together as my main credit card provider. My contact details are shown below, for your reference. Please remember to visit the SIA website and see for yourself the vetting process & persona checks undertaken against me, and everyone wishing to work in this Regulated environment…

Yours faithfully,

Tef · 28 February 2009 at 12:15PM

Well got a big fat no from the PO this morning this despite the fact that they only checked experian and my score there is 993. I've said before that I'm convinced that experian don't let you see everything they hold on you now I'm certain.

Might try Vanquis now whats one more search lol

Regards

jack290292 · 28 February 2009 at 12:51PM

Tef...sorry to hear about your "NO" from the PO...I have sent all my doccuments off now...but still get the feeling I will get a "NO" too!

Vanquis is not so hard to get...I think it is worth a go! They gave me £500 starting limit and after 3months have increased to £1000...I always clear the balance every month.

Good luck;)

never-in-doubt · 28 February 2009 at 12:52PM

Tef wrote: »

Well got a big fat no from the PO this morning this despite the fact that they only checked experian and my score there is 993. I've said before that I'm convinced that experian don't let you see everything they hold on you now I'm certain.

Might try Vanquis now whats one more search lol

Regards

Really? That's a bummer but never mind. Read my letter above and appeal using similar idea and they may reconsider. Nothing to lose after all.....

I got declined to start with, but never got letter that fast (but then again the PO use BOI to service their cards whereby I went direct to BOI so maybe that is why it is slower?)

never-in-doubt · 28 February 2009 at 12:54PM

jack290292 wrote: »

Tef...sorry to hear about your "NO" from the PO...I have sent all my doccuments off now...but still get the feeling I will get a "NO" too!

Vanquis is not so hard to get...I think it is worth a go! They gave me £500 starting limit and after 3months have increased to £1000...I always clear the balance every month.

Good luck;)

I'm on statement 2 with vanquis and have the standard 250 limit. I just cleared the whole 250 off last week (so now 10 in credit).... does this help and will they up my limit if I keep doing this or do I have to wait 3 month, minimum?

cheers

Sub Prime Credit Thread Part II

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