Sub Prime Credit Thread Part II

never-in-doubt

sutton111 wrote: »

I replied to that before. Lol

LOL you never - you asked me to send you sar letter but I asked for your email ya nuggat!

never-in-doubt

clio wrote: »

I have tesco/virgin allready. And egg money.

So they look at your limits allready, they look at how much you have spent on cards allready, they look at how much you earn and decide your debt outways your earning am i right..

Yes, but they basically only let you have a total available credit of XX amount of your total declared salary. Also takes into account credit used.

i.e. if you earn 30k, you wouldn't be allowed 30k of credit, you'd be allowed a maximum of say 25k...... they assess everything mate, credit scoring is unique to each lender. So using same formula, you have 15k of available credit but only have 5k outstanding - the most you'll get is still 10k regardless if you owed 15k or 5k.... make sense>

If you already have the 'good' cards you're kinda snookered! Citi gold is good, I love them.....

sutton111

never-in-doubt wrote: »

LOL you never - you asked me to send you sar letter but I asked for your email ya nuggat!

I'm not sure what happened then.

never-in-doubt

sutton111 wrote: »

I'm not sure what happened then.

Just replied mate - sorted! Regards SAR, I aint bothered about 'incriminating' - when I get them sorted into a legible format that I understand I'll email you a copy - just delete the email afterwards and don't print or send it to anyone!

:mad: :beer: :mad:

sutton111

never-in-doubt wrote: »

Just replied mate - sorted! Regards SAR, I aint bothered about 'incriminating' - when I get them sorted into a legible format that I understand I'll email you a copy - just delete the email afterwards and don't print or send it to anyone!

:mad: :beer: :mad:

What do you take me for. Lol

never-in-doubt

sutton111 wrote: »

What do you take me for. Lol

A Man U fan mate hahaha

clio

forgot i have the asda card lol...
So if my wages are 20 grand i'd be at my limit [available credit] if my card limits in total 15 grand, but not using half of that so my actual debt is nowhere near half of that. I suppose they just see allocated credit allready and would be hard pushed with the responsible lending criteria and the credit crunch too approve more - incase i spent all of it.

So would i be scored on what i have available or spent allready or both??
deffo last query matey

never-in-doubt

clio wrote: »

forgot i have the asda card lol...
So if my wages are 20 grand i'd be at my limit [available credit] if my card limits in total 15 grand, but not using half of that so my actual debt is nowhere near half of that. I suppose they just see allocated credit allready and would be hard pushed with the responsible lending criteria and the credit crunch too approve more - incase i spent all of it.

So would i be scored on what i have available or spent allready or both??
deffo last query matey

Your available credit is the same as used credit in respct of this, so for example just because you spent only 40% of the available credit doesn't mean that lenders will give you more because if things giot tight then you could (could being the operative word here) get deeper into debt and that means the lenders chances of getting paid become slimmer.

You'd be scored on the total available credit - but part of the credit search is the score, the score doesn't lock into the available credit - the search picks this up mate....

ask what you want mate - no worries....

sutton111

Stop ganging up on the United fan. You're only jealous of such a fantastic majestic club!!

never-in-doubt

clio wrote: »

forgot i have the asda card lol...
So if my wages are 20 grand i'd be at my limit [available credit] if my card limits in total 15 grand, but not using half of that so my actual debt is nowhere near half of that. I suppose they just see allocated credit allready and would be hard pushed with the responsible lending criteria and the credit crunch too approve more - incase i spent all of it.

So would i be scored on what i have available or spent allready or both??
deffo last query matey

Another way of looking at this is to use banks. Banks don't always issue a cheque guarantee card why? because it equates to 3 grand credit straight off (say you cash 30 cheques at 100 each cos you're skint or whatever).... so if the same bank gave you 5 bank accounts you can see that the overall potential debt is 15k. People failt to remember that this is part of any credit allocation....

HTH matey :beer: