Sub Prime Credit Thread Part II

never-in-doubt

Innocent_Guy wrote: »

Hi Mate,

Went into HSBC to confirm the situation regarding disputes / overturns. If your behaviour score is over 40 depending on what decline code they get they can overturn. I spoke to them regarding my CC application in Novemeber and they advised me that it was a code that could be overturned!!!!!! Because I am out of the three months I have to reapply. The suggested that with my behaviour score (61) that I give it 2 - 3 months to try and get that up even more and then reapply. She said that if she gets the same decline as last time she WILL overturn it providing I show her all my Experian info and take in my credit report. She did say that she used to be able to overturn EVERYTHING however recently this has changed. She did seem really helpful and told me with 26 years HSBC experince she knows her stuff...... HTH

Yea, thats right mate. I'll explain the behaviour scores for you:

40-50 - bank account with CGC 90% possible
50-60 - Credit Card upto £2k limit
60-70 - Loan/CC upto £7k
70-80 - Loan/CC above £7k
80+ - extra features/free upgrades and highest limits.....

:rotfl:

Obviously the above assume your credit file aint screwed but even then it's not all bad cos they will overturn in branch if you have a good enough reason and tell them a sob story.....

Innocent_Guy

never-in-doubt wrote: »

Yea, thats right mate. I'll explain the behaviour scores for you:

40-50 - bank account with CGC 90% possible
50-60 - Credit Card upto £2k limit
60-70 - Loan/CC upto £7k
70-80 - Loan/CC above £7k
80+ - extra features/free upgrades and highest limits.....

:rotfl:

Obviously the above assume your credit file aint screwed but even then it's not all bad cos they will overturn in branch if you have a good enough reason and tell them a sob story.....

How on earth do you know that LOL

never-in-doubt

Innocent_Guy wrote: »

Credit scoring is

Are you a homeowner, Married, employment lenght, time of job, lenght with bank, landline, mobile, what cards to you have i.e Electron or Visa / Mastercard so on

Credit Rating

How you have run your other credit products, late payments, missed payments, credit searches so on

HTH

Look here for best explanation: http://www.moneysavingexpert.com/banking/credit-rating-credit-score

never-in-doubt

Credit scoring's about profit not risk...
This is so important, let me make it as clear as I can.
Even good risks can be rejected simply because they won't make the bank money!

From martins guide - shocking eh?

never-in-doubt

Innocent_Guy wrote: »

How on earth do you know that LOL

cos I asked mate - she printed it off and I have it in front of me!

never-in-doubt

even funnier my score is 67 right now! Not bad - can only get better :-)

when I applied for card, it was 48 out of interest (= +19 points in 9 weeks)

Innocent_Guy

never-in-doubt wrote: »

cos I asked mate - she printed it off and I have it in front of me!

You appear to have your fingers in lots of pies!!!

You are one to keep on side

never-in-doubt

BUT i've never used my overdraft, always have at least a grand in there and transfer £25 per week into two HSBC savings accounts. Also have bill payment set-up to my citi gold and BOI gold so they can see that I pay my debits, credit cards and never use o/d etc... this all helps an internal behaviour score.... HTH

Innocent_Guy

never-in-doubt wrote: »

BUT i've never used my overdraft, always have at least a grand in there and transfer £25 per week into two HSBC savings accounts. Also have bill payment set-up to my citi gold and BOI gold so they can see that I pay my debits, credit cards and never use o/d etc... this all helps an internal behaviour score.... HTH

Using your overdraft, only temp shows that you are responsible with the facilities you have been given. The impression I got from the lady was that it is sometimes good to dip into your overdraft and then come back out again @ payday

never-in-doubt

Innocent_Guy wrote: »

You appear to have your fingers in lots of pies!!!

You are one to keep on side

LOL, mate I always say i know lots of little things that are irrelevant until the time you need to know them... I spend hours reading wiki which is sad but hey, you learn loads and this prompts me to ring and ask companies whether things are true, behaviour scores was a myth and I went into branch and they denied it. I therefore wrote to head office complaining and they wrote to me with appointment to visit branch. I went in and the woman explained everything to me, including the star ratings (they mean sod all tbh) - stars are sales so 5 stars may mean you have a high savings balance and they want to get you to invest!