Tesco Foundation Changed

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  • Dandytf
    Dandytf Posts: 4,820 Forumite
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    A4445 wrote: »
    I wonder if they allow applicants with defaults/iva/ccj and bankruptcy like the other sub prime lenders. I noticed they APR can go as high as 39.9% so it's similar to vanquish and cap 1

    d,m.p since 2012-2019, 7 defaults, i've been accepted 27.5/%:o
    Replenished CRA Reports.2020 Nissan Leaf 128-149 miles top charge. Savings depleted. VM Stream tv M250 Volted to M350 then M500 since returned to 1gb
  • browneyone
    browneyone Posts: 73 Forumite
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    Thanks for this, also now been accepted. Hopefully they increase limits quiet than capital one so I can ditch them.
  • browneyone
    browneyone Posts: 73 Forumite
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    Looks like it's an annual review.
  • tomxlisa
    tomxlisa Posts: 426 Forumite
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    What limit did you get accepted with?.
  • browneyone
    browneyone Posts: 73 Forumite
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    I Only got accepted for £200
  • tomxlisa
    tomxlisa Posts: 426 Forumite
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    I applied and got accepted for £250 with a APR of 39.9% which isn't great considering others have been accepted with better APRs with defaults but I guess it's the way it goes sometimes, maybe there is something on my files they don't quite like.
  • Rich7111
    Rich7111 Posts: 54 Forumite
    edited 4 May 2016 at 10:51AM
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    Just got a call from a 0141 number (Glasgow) which I wasn't going to answer, anyway, she asked me my security details, date of birth, mothers maiden name etc, then after all that, said they have had time to review my application but it's not been accepted and a letter will be posted :(

    I have to admit, it's a new low to get called when you get declined, it's proper rubbing salt into the wound lol. I have heard of getting called for approvals, but to receive a call for a decline, well. lol

    Mine however wasn't a straight approval, more of a WE HOPE TO GIVE you a card, so maybe it was referred, too good to be declined, too crap to be approved :)

    Good luck to you all, hope the card is good for ya :T
  • onthefencepost
    onthefencepost Posts: 225 Forumite
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    Hi,

    That's a shame - i agree not nice getting a called to be declined. If you dont mind me asking whats your past credit record like? Reason i ask im looking to make a application in the next month or so.
  • Rich7111
    Rich7111 Posts: 54 Forumite
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    i haven't missed a payment in the last 3 years on anything and have kept searches to a very minimum.

    I have a Capital One Card from 2008 which started with a £100 limit, raised three months later to £300 and I have never missed any payments on that.

    Since a bad time and defaults (2010&2011) I have managed to get 02 and EE mobiles and one credit card with Cash Plus (who sent me the offer in a post) with £100 credit limit lol.

    I'd of thought that I stood some chance with Tesco as they can see clearly rebuilding and much of the bad credit stuff will be off file next year anyway,. I only want to try and rebuild the credit now. Looks like I will have to do that with the 2 credit cards I have. When all this falls off my credit report next year, I would imagine I can ask Cap 1 to raise limit and then try for a Prime Card.

    From reading above, it looks like Tesco are pretty willing to accept most, obviously, I had one too many defaults. I have no CCJ's and have paid off some of my defaults to zero, other than that, I have a full current account etc, so it's just the lending part which I am struggling with, Capital One have been pretty good today, I asked them to raise limit as £300 is low and I want to be able to improve things, they told me it was due to affordability checks that I can't increase right now.

    Once these defaults are gone I won't be taking on much credit, it will be just nice to have one with a higher than £300 credit limit.

    Still Tesco offered me £250, I was going to close the Gold Credit Card from APS as that only has £100 on it and to be honest, if I use it to buy a stamp it's close to it's limit :rotfl::rotfl::rotfl:
  • tomxlisa
    tomxlisa Posts: 426 Forumite
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    Sorry to hear of your phone call, that's a bummer when you get called up to be declined, like you said I've heard of people being called to be approved, I have myself, but like you said as it wasn't a straight approval they probably looked into it further and found the defaults to put them off more than likely, I was gonna cancel my application as they have only give me a £250 limit but the APR is lower than my vanquis so ma cancel that one and keep the tesco card in hope that in 6 months or so I can transfer or apply for ole of there more mainstream cards with a much better APR as I would have already built a good relationship up with them.
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