Sub Prime Credit Thread Part II

never-in-doubt

And Ulster



I always get accepted for RBS cards but then fail later - grrrrrrr

See referral below - thus its another rejection!!!

never-in-doubt

i'll do the rest tomorrow - i've applied for 23 so far and knackered LOL

Mich81

Has anyone else closed their £100 MBNA account?

I closed mine on the 10th March, was promised a cheque returning it within 7-10 days - then was told last week they'd credit it back to the MBNA account instead (by the 28th March) and this hasn't happened either.

Cash_Flow

never-in-doubt wrote: »

i'll do the rest tomorrow - i've applied for 23 so far and knackered LOL

Your funny man.......;)

Cash_Flow

Innocent_Guy wrote: »

No he advised every 1st monday of the month the limits are adjusted. Someone else advised me that on the above date the banks get fed info from the CRA's about account conducts.

This is supposed to apply to HSBC aswell

Yep, They get fed all the data from your credit file

never-in-doubt

Cash_Flow wrote: »

Yep, They get fed all the data from your credit file

Not entirey true now........ what they do is scan the CRA's but they never use it unless you require additional borrowing. For instance, If I have 4 accounts, a credt card and a loan HSBC wouldn't panic if I missed payments elsewhere - it is purely used if you wanted to apply for something. But that said, a few searches wouldn't affect their decision - its HSBC after all.....

:eek:

Nomoredebtnow

never-in-doubt wrote: »

i'll do the rest tomorrow - i've applied for 23 so far and knackered LOL

Are you going to run away

cifpower

Got a reply from Tesco Personal Finance. They have asked for 3 months bank statements and, as I am not employed, two utility bills.

Cash_Flow

never-in-doubt wrote: »

Not entirey true now........ what they do is scan the CRA's but they never use it unless you require additional borrowing. For instance, If I have 4 accounts, a credt card and a loan HSBC wouldn't panic if I missed payments elsewhere - it is purely used if you wanted to apply for something. But that said, a few searches wouldn't affect their decision - its HSBC after all.....

:eek:

I know for a fact that you are wrong.

Why do you think banks are slashing credit limits and removing O/D facilities?

Do you really think that if a bank new you were missing payments on your borrowing with other lenders that they would hesitate to call in your O/D?

Banks have a duty to protect shareholders money and knowledge is power, I can't belive you would be silly enough to suggest otherwise.

I thought this thread was about helping people in the sub prime?

How can we help people in the sub prime without giving them factual information.

If you read back through last nights posts what kind of message is being sent out to new visitors to this forum?

savagej

It may help NID if he also reads this:-

http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/2790973/Royal-Bank-of-Scotland-to-sell-its-stake-in-Tesco-bank.html

Just because something comes out of the card processing centre in Southend-on-Sea does not mean necessarily it is dealt with by RBS. The centre is not homohgenous it is made up of many different companies and departments all which have separate data controller registrations. Maybe using Hunter one will find out about another but not by direct contact.

Tesco cards are issued by Tesco Personal Finance a part of the Tesco Group, again they are the data controller.

Just because of a similarity in on-line application forms means nothing, Tesco use their own scorecard and if you are declined for a product in the RBS group you may well be accepted for a product in another part of the RBS group or indeed from a non RBS related company such as Tesco.

All I conceed is that at the moment they may have a contract with RBS to emboss cards and issue statements that does not make it an RBS group company, etc. etc.