How to get back on the credit ladder

never-in-doubt

ElkyElky wrote: »

Hello stranger!

Hiya matey - hows it going? Notice you're cards are increasing - nice one

never-in-doubt

izools wrote: »

Hey change of subject, how lenient are Redcats normally? I just checked my Equifax (which is what they search) and all that is showing is two satisfied defaults at an old address - no BR order or other defaults atall.

Only things at current address are five active accounts, three being bank accounts two being credit cards. All upto date no history of arrears...

... Interesting that I can only see one address back on Equifax, and all of my addresses on Experian. No wonder Experian is more popular with creditors!

I got Redcats in April and got instant accept with £250 limit. At the time I had all the problems on my file and they searched my Experian and Equifax by the way.... Maybe a case-by-case scenario as to who they search?

Worth a go if you ask me..... But its weird, basically apply for an account but do not order anything. They then write to you and ask for details etc... ignore this til they do the same a month later and then make an order (with the paper they send you) and this generates the account for you - obviously it shows you're not desperate.

Well thats what I done, I originally applied in Feb 09 and just got the account number - in April I responded to a 50% discount from them and they sent me a letter confirming £250 limit.....

no_cally_doe

Just thought I'd share my story so far (I'll keep it short) . . .

I became aware of my credit situation around two years ago and had 3 defaults on my account, two were from Bank of Scotland and one from o2. I had a credit score of 620 (experian) and no chance of credit. I had to wait patiently for one default to drop off and then applied for a cap1 card and was accepted. I bought goods and paid for them every month for around a year. This brought my score up to around 710. After the year I got a Barclaycard initial and done the same thing of buying and clearing the balance. After 8 months I called and asked my apr to be adjusted and they brought it down to 19.9 from 27.9. checked my report and score few weeks ago and another default has dropped off so my score is now at 860ish and one default with o2 (which wasn't my fault so I have started an appeal) So couple of days ago I applied for an MBNA platinum and was accepted with a £2300 limit. Meanwhile through all this I have managed to save around £4500.

I feel like I have been carrying this burden around for ages and wished I'd know about this site earlier for they great advice from members. Anyway just wanted to say that its proof that if I can get back on the "credit ladder" anyone can

marcellep

never-in-doubt wrote: »

Ok, so read here: http://forums.moneysavingexpert.com/showthread.html?t=1033817

Select the CRA's that exclusively use Equifax, such as Barclaycard...... (or Capital One - ironically enough haha - joke)...

Well the post is back to normal now, so lets see what cap one say

never-in-doubt

marcellep wrote: »

Well the post is back to normal now, so lets see what cap one say

The post is on strike again mate - you spoke too soon! Get an application in for a credit card so you have one spare mate! lol

marcellep

never-in-doubt wrote: »

The post is on strike again mate - you spoke too soon! Get an application in for a credit card so you have one spare mate! lol

LOL it's typical eh

I will leave any application until I win this fight

I am in no hurry at all :beer:

never-in-doubt

marcellep wrote: »

LOL it's typical eh

I will leave any application until I win this fight

I am in no hurry at all :beer:

LOL - I like the confidence! Its kinda dragging on a bit now - maybe get it sorted the month before the default is due to drop off lol :rotfl::rotfl:

marcellep

never-in-doubt wrote: »

LOL - I like the confidence! Its kinda dragging on a bit now - maybe get it sorted the month before the default is due to drop off lol :rotfl::rotfl:

It has dragged out a bit, But as you say I am confident now.

I think we, well you have backed Capital One in to a corner

never-in-doubt

Did you ever send this mate: #399

marcellep

never-in-doubt wrote: »

Did you ever send this mate: #399

Yes and had a reply today

I am not going to post the entire letter, here is the bits that may interest you.

• We do not intend to continue with protracted correspondence reagrding this issue.
• We have legally complied with your requests and we are confident in our stance regarding this matter
• We will acknowledge any letter you send us
• We will not send you a chaeque, we will deduct the £96 to the unpaid debt
• I strongly suggest you contact the FOS

This letter was from Steve Howland - Head of executive response