Sub Prime Credit Thread Part II

sutton111

Right I'm off to watch the second half.

Woodyrocks

Tef wrote: »

Hi all, seems like a friendly forum you have here so thought I'd seek your wisdom.

Ok have been declined a few times in the last year from First Direct, RBS and most recently MBNA for a cc. After being declined from First Direct I took out a subscription to Creditexpert and checked my file score = 653 and nothing bad. Just not on electoral roll. Hmm ok fixed that and a few months later score now 947 so applied with RBS and was rejected. Thinking it was them being a little harsh in the current climate I applied with MBNA and 14 days later have still heard nothing. Presuming the worse.. I am a little fed up. I have a lloyds tsb current a/c with debit card am in full time employment with tax credit,s average thp is £1800 p.m. I have paid provident loans off promptly for over three years, have a t-mobile contract phone in excess of 18 months great payment record etc and DD with Sky.. plus BT landline in excess of 24 months.

Any hints, guidance as to where I'm going wrong here? And should I now try sub-prime? :mad:

Regards
Tef

Hi Tef,

Welcome to the forum. And you are right, it is not so scary in here! I can see why you are getting frustrated with all these rejections coming through. Especially as you said, you file itself is clear. I can only assume that all the knockbacks are also showing up on your file which doesn't inspire confidence in prospective lenders.

If the thought of going 'proper' sub-prime turns you off, why don't you try a Flybe card. A fair few of us have had high success rate with them and they are not classed as sub-prime, although their APR is high by other's standard.

Stick around and ask Qs' of us all, we will be only too glad to answer if we know the answer. There are lots of helpful peeps in here I have found.

c8ndice

kiora wrote: »

C8ndice
That is so weird as when i phoned up got told the opposite, after 6 months goes to a standard visa and the deposit goes against the balance, seems strange that they are telling people different things.

I wish I could have spoken to just one person who said the same thing as above.

I must have spoken to about 10 different people after being transfered from department to department, and some speaking to their managers etc.

My 6th statement is due tomorrow so as soon as it is available online I shall have a look to see if anything has changed.

Tef

Woodyrocks wrote: »

Hi Tef,

Welcome to the forum. And you are right, it is not so scary in here! I can see why you are getting frustrated with all these rejections coming through. Especially as you said, you file itself is clear. I can only assume that all the knockbacks are also showing up on your file which doesn't inspire confidence in prospective lenders.

If the thought of going 'proper' sub-prime turns you off, why don't you try a Flybe card. A fair few of us have had high success rate with them and they are not classed as sub-prime, although their APR is high by other's standard.

Stick around and ask Qs' of us all, we will be only too glad to answer if we know the answer. There are lots of helpful peeps in here I have found.

Thanks, had a look at the flybe site which seems not to work at the mo.. also read just about every thread since my post and can anyone confirm my conclusion? i.e. experian score is wildly misleading and that equifax seem to be much more realistic? If so, and not knowing what equifax hold maybe I'll jsut stick to the lenders who only use experian.. abbey coop etc.. then again, do experian really tell you everything they know about you or do they withold certain info..... makes you wonder dosn't it?

Regards

louiser123

morning everyone!!

looks like next are at it again with thier fluctuating credit limits and changes. hubbys account (which i order from as they wont let me have one!) has had a credit limit decrease this month was 300 but they reduced it to 250. this morning when i logged in to check returns had been credited they had but remaining credit was zero!! balance is 124, so there should be still be 125 remaining but no, so he has emailed to find whats going on. next are so funny!!

dolally_2

c8ndice wrote: »

I wish I could have spoken to just one person who said the same thing as above.

I must have spoken to about 10 different people after being transfered from department to department, and some speaking to their managers etc.

My 6th statement is due tomorrow so as soon as it is available online I shall have a look to see if anything has changed.

Any news??

c8ndice

Not yet. It hasn't been updated.

I'm going to call them one last time. I was told to ring the credit dept on 0800 085 1709.

seeya23

Good morning

mumofboys_2

OK, I feel like I am taking a deep breath and jumping into the unknown here, but your support to each other seems invaluable. My credit history is so far up the creek, that even with a paddle it is going to be hard to turn it around, but I have the bit between my teeth - at last, and I am absolutely determined to do it. Reading your posts has given me the hope that this is possible.

I, rather we, have unsatisfied stuff, but OH and I are facing it and working towards getting rid of it all. Luckily we are both earning decent salaries, so although it will take some time we are working towards it. I haven't yet actually braved my credit report - tried the free one, but they need me to send ID. My house (rented) is called three different things, depending on which utility co, post office or landlord you happen to be talking to.... will this make a huge difference? The wierd thing is I did manage to get a bank account last month with debit card, cheque guarantee and cheque book...

I have rattled on, but hope you might take me under your numerous wings...

System

mumofboys wrote: »

OK, I feel like I am taking a deep breath and jumping into the unknown here, but your support to each other seems invaluable. My credit history is so far up the creek, that even with a paddle it is going to be hard to turn it around, but I have the bit between my teeth - at last, and I am absolutely determined to do it. Reading your posts has given me the hope that this is possible.

I, rather we, have unsatisfied stuff, but OH and I are facing it and working towards getting rid of it all. Luckily we are both earning decent salaries, so although it will take some time we are working towards it. I haven't yet actually braved my credit report - tried the free one, but they need me to send ID. My house (rented) is called three different things, depending on which utility co, post office or landlord you happen to be talking to.... will this make a huge difference? The wierd thing is I did manage to get a bank account last month with debit card, cheque guarantee and cheque book...

I have rattled on, but hope you might take me under your numerous wings...

Hi mumofboys,

Welcome to MSE!

Well done on taking some action. You'll like this thread, it's full of good, supportive people I'm more of a lurker these days but feel free to ask me any questions you like, I know a bit about credit reference agencies.

With regard to your address, get the official Royal Mail version of it here:

http://postcode.royalmail.com/portal/rm/addressfinder

If various companies use different versions call them and ask them to change it to the Royal Mail version otherwise you'll possibly end up with loads of linked addresses on your credit files.

You're taking your first steps to re-building your credit rating by getting your credit files, do let us know what's on them when they turn up.

It's a good sign that you managed to get a full account with cheque guarantee, you must have something about you that lenders like!

Welcome again, and good luck.

UNDERGROUND