Poor crediting rating credit cards

rcosgrove · 28 June 2005 at 4:34PM

Hi,

Does anyone know of any company that provides credit cards for people with poor credit ratings?

My credit rating took a serious beating last year, thanks to having to move repeatedly (dodgy landlords), changing banks (dodgy service), and drastic financial problems (stupidity on my part). I'm debt-free now (except for a student loan), and I want to build my rating up again. Having a credit card or two will help with this (or so I've been told).

I've tried Capital One - they offered a £200 credit card, so long as I gave them a £200 deposit (money I don't have) - and Barclaycard for a Barclaycard Initial - been almost two months since I applied and no word.

Any other companies out there? I don't mind high interest rates or low limits, so long as the company provided it is legit.

Thanks in advance.

- Richard

donsguy · 28 June 2005 at 5:48PM

Could try for a store card, they seem to be easier to get than credit cards, limit likely to be low and apr are all around 30%. The likes of Style cards or the ASDA storecard also allow cash withdrawals. Useful for getting your rating up.

jeeves_2 · 28 June 2005 at 5:53PM

HELLO...
try the monument card which is run by barclaycard...
the only number i have is 0800 056 0861 which is think is customer services.
'er indoors managed to get one, she has no income and no rating as she's never had a credit card before and she got £3500 limit
worth a try
good luck

rcosgrove · 29 June 2005 at 12:22AM

Thanks for the replies.

Re: the Momument card, couldn't find its website, but did find it's Customer Service address at Credit Solve UK:
Customer Services
Monument
PO Box 6476
Northampton NN4 1ZN

or

Customer Relations
PO Box 504
Crawley
RH10 1XN

- Richard

RichyRich · 29 June 2005 at 7:26PM

Beneficial Card - http://www.beneficialcard.co.uk
Vanquis Card - http://www.providentfinancial.com/plc/About_Us/Our_products/Vanquis_Bank.aspx

RBS used to do one called Universa but their web address now just links to the RBS web site (http://www.universa.co.uk)

Doesn't paying £200 for a £200 credit limit kind of defeat the object of a credit card?

Rich

RichyRich · 29 June 2005 at 7:29PM

PS - beware of anything Credit Solve UK (mentioned by rcosgrove) tries to sell you (i.e. credit rating improvements; "guaranteed" credit cards/bank accounts etc). Also I'm not too sure that the aquacard link is genuine. Decide for yourselves - http://www.aquacard.co.uk/

RichyRich · 29 June 2005 at 7:40PM

Sorry for the multiple postings. Aquacard does not, in my opinion, add up. First, look at the web site, for goodness sake. No lender worth their salt would have a web site that looks like that! There's also no way to sign up on-line and the email link is replaced by a form on most companies' web sites. Secondly, they claim it's issued by Halifax. Possibly, but no info on Halifax, HBOS or Bank of Scotland web site.

https://www.aquacard.co.uk is registered, according to its WHOIS, at SAV Credit Ltd., The Solar Building, Doxford International, Sunderland SR3 3XW. SAV Credit Ltd does exist. Its registered Office is Forsyth Business Centre, Century Place, Lamberts Road, Tunbridge Wells, Kent TN2 3EH. https://www.savcredit.co.uk is registered to the Tunbridge Wells address.

I'm not saying it's not legit, I'm just saying approach with care.

Fedz · 29 June 2005 at 9:23PM

I rang Aquacard up a few days ago to apply and whilst the website looks 'un-professional' the telephone manner is very nice. They are sending an application form too me so will await the delivery.

I'll post my review if accepted

fairmorn308 · 5 July 2005 at 2:49AM

Fedz wrote:

I rang Aquacard up a few days ago to apply and whilst the website looks 'un-professional' the telephone manner is very nice. They are sending an application form too me so will await the delivery.

I'll post my review if accepted

Any more progress on this?

Fedz · 5 July 2005 at 12:08PM

I got the application form within a few days. Posted back completed.

The enclosed letter says:
Aqua is a trademark of SAV Credit Limited, which is used by Halifax Plc under licence.
Aqua Credit Cards are issued by Halifax Plc.
Registered office: Trinity Road, Halifax, HX1 2RG. Registered in England No. 2367076.

The card is Mastercard. Credit limit between £100 and £1,600. Typical APR 29.9% variable. Repayments between 3%, £5 min and or complete balance. Cash advance fee 2% (min. £2). Foreign exchange fee 2.75%. No annual fee. 24 hour customer helpline (locall).

Cash advances 37.11% | Cheques 38.94%

Default Charges: Late payement/over limit/returned payment fees are £20

According to the conditions of use it's N/A for special promotions rate p/a (fixed) and N/A for Special promotions rate period. So I gues they don't offer any special promotions for customers at anytime.

Better than Vanquis credit card (just) but then again my Vanquis statement says purchase interest rate is 33.030% p/y despite the advertised rate of 59.9% or something, so a bonus on that

I pay full balance monthly on that card however.

Hope this helps

lee3276 · 5 July 2005 at 5:14PM

I had a aquacard only last year £750 credit limit and never had a problem with it except APR of 29.9%,

Poor crediting rating credit cards

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