Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

Search
  • FIRST POST
    • Daniel2017
    • By Daniel2017 15th Jul 17, 10:08 AM
    • 16Posts
    • 5Thanks
    Daniel2017
    Mse credit club absolutely useless.
    • #1
    • 15th Jul 17, 10:08 AM
    Mse credit club absolutely useless. 15th Jul 17 at 10:08 AM
    Mse say on there credit club it's important to put the correct amount of money you get in well unfortunately they have set a grand as the minimum amount you can put in the box well if it's that important surely there should be no minimum or are you trying to say you don't want people who have less money to be able to use the credit club.
Page 1
    • Tarambor
    • By Tarambor 15th Jul 17, 10:46 AM
    • 907 Posts
    • 613 Thanks
    Tarambor
    • #2
    • 15th Jul 17, 10:46 AM
    • #2
    • 15th Jul 17, 10:46 AM
    If you earn below £1000 you're not going to find anyone who will lend to you other than pay day lenders and doorstep loansharks such as Shopacheck.

    Also at the top of the page:

    Important: This is a brand new tool, so we're still ironing out creases, please see our FAQs for help and feedback.
    So have you given them feedback or just ranted on here?
    • Superscrooge
    • By Superscrooge 16th Jul 17, 2:04 AM
    • 844 Posts
    • 586 Thanks
    Superscrooge
    • #3
    • 16th Jul 17, 2:04 AM
    • #3
    • 16th Jul 17, 2:04 AM
    See below post from similar thread

    http://forums.moneysavingexpert.com/showthread.php?t=5651220&highlight=credit+club+100 0#7

    £1,000 annual income is less than £20 per week. If your income is below £20 per week it's unlikely you would be accepted by any mainstream lender
    Last edited by Superscrooge; 16-07-2017 at 2:18 AM.
    • nic_c
    • By nic_c 16th Jul 17, 7:00 AM
    • 824 Posts
    • 508 Thanks
    nic_c
    • #4
    • 16th Jul 17, 7:00 AM
    • #4
    • 16th Jul 17, 7:00 AM
    I wonder if the OP mistook the income as monthly not annually, as you say £1000pa is extremely low.
    • Tarambor
    • By Tarambor 16th Jul 17, 12:22 PM
    • 907 Posts
    • 613 Thanks
    Tarambor
    • #5
    • 16th Jul 17, 12:22 PM
    • #5
    • 16th Jul 17, 12:22 PM
    Even at £1000 per month you're going to be in the realm of sub-prime borrowing which this site is against.
    • RG2015
    • By RG2015 16th Jul 17, 9:28 PM
    • 215 Posts
    • 75 Thanks
    RG2015
    • #6
    • 16th Jul 17, 9:28 PM
    • #6
    • 16th Jul 17, 9:28 PM
    I understand that checking your credit file is a useful way to find if fraudulent applications have been made in your name. There is a good reason therefore to sign up with the MSE Credit Club and check your Experian file every month.

    Just because someone has an annual salary or pension of less than £1,000 should not preclude them from signing up for this service. Also, they may have significant investment income which is included in a separate section.

    In a case like this, to use the service, there is no option other than to lie on the MSE Credit Club declaration. I am sure that this is not what MSE intended..
    • Torry Quine
    • By Torry Quine 16th Jul 17, 9:31 PM
    • 16,856 Posts
    • 25,679 Thanks
    Torry Quine
    • #7
    • 16th Jul 17, 9:31 PM
    • #7
    • 16th Jul 17, 9:31 PM
    I understand that checking your credit file is a useful way to find if fraudulent applications have been made in your name. There is a good reason therefore to sign up with the MSE Credit Club and check your Experian file every month.

    Just because someone has an annual salary or pension of less than £1,000 should not preclude them from signing up for this service. Also, they may have significant investment income which is included in a separate section.

    In a case like this, to use the service, there is no option other than to lie on the MSE Credit Club declaration. I am sure that this is not what MSE intended..
    Originally posted by RG2015
    Well said. This is why I signed up and although I have no income had to put £1000
    Life is like riding a bicycle, to keep your balance you must keep moving . Albert Einstein.

    I can bear pain myself, he said softly, but I couldna bear yours. That would take more strength than I have -
    Diana Gabaldon, Outlander
    • RG2015
    • By RG2015 16th Jul 17, 9:49 PM
    • 215 Posts
    • 75 Thanks
    RG2015
    • #8
    • 16th Jul 17, 9:49 PM
    • #8
    • 16th Jul 17, 9:49 PM
    I understand that checking your credit file is a useful way to find if fraudulent applications have been made in your name. There is a good reason therefore to sign up with the MSE Credit Club and check your Experian file every month.

    Just because someone has an annual salary or pension of less than £1,000 should not preclude them from signing up for this service. Also, they may have significant investment income which is included in a separate section.

    In a case like this, to use the service, there is no option other than to lie on the MSE Credit Club declaration. I am sure that this is not what MSE intended..
    Originally posted by RG2015
    To MSE Officials.

    Are you able to review this condition of the MSE Credit Club?

    Many thanks,
    RG
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

3,679Posts Today

8,107Users online

Martin's Twitter
  • Byebye! I'm about to stop work & twitter, to instead spend glorious time with Mrs & mini MSE. Wishing u a lovely summer. See u in 10 days.

  • WARNING Did you start Uni in or after 2012? The interest's rising to 6.1%; yet it doesnt work like you think. See https://t.co/IQ8f0Vyetu RT

  • RT @JanaBeee: @MartinSLewis Boris is the anomaly (coffee), the others are versions of normal (beer). Lots of same candidates = vote share d?

  • Follow Martin