Sub Prime Credit Thread Part III

TheEffect

I just phoned HSBC to close my eISA and Instant Savings. The interest rate on them were absolutely terrible, and I didn't have much left that I could put into my ISA this tax year anyway as I removed it all and put it in a savings account elsewhere to get more interest.

Now I just have a HSBC Plus Account and HSBC Gap Year Account.

lemma1968

Don't want to sound dim but what is Sygma? Never heard of it.

cifpower

lemma1968 wrote: »

Don't want to sound dim but what is Sygma? Never heard of it.

Sygma is a company which issues credit cards such as Flybe and Accessory and Silver

lemma1968

cifpower wrote: »

Sygma is a company which issues credit cards such as Flybe and Accessory and Silver

Ok thanks.

Never heard of any of them. Are they traditional credit cards?

lemma1968

Just looked at the links. They say you must have a clean credit history i.e. no defaults, ccj's etc

How can these be for those with adverse credit then?

cifpower

lemma1968 wrote: »

Ok thanks.

Never heard of any of them. Are they traditional credit cards?

Traditional in what sense?

cifpower

lemma1968 wrote: »

Just looked at the links. They say you must have a clean credit history i.e. no defaults, ccj's etc

How can these be for those with adverse credit then?

Dunno but people with defaults and CCJs have been accepted for them.

lemma1968

I asked this question a while ago and got only one response so here goes again.

I used to have an MBNA cc. Got defaulted about 4 years ago. Then came to an agreement to pay off £300pcm (minimum payment plus about another 50%). Finished paying the card off last month. Also made frequent additional payments to get rid of it. I asked for the card back when i had paid it all off ad they told me to take a hike even tho i had made all my payments and more.

Have a mobile phone on contract with o2 - had it nearly 2 years, all payments made by dd and on time.

I have no other credit save for an overdraft facility of £5k registered on my current account (under work address). I am yoyoing in and out of it regularly. Never had any problems tho.

I have one satisfied ccj from April 08 (to HMRC :eek::mad:)

When i looked at the quick check "how good is your credit" it came back as weak.

What do people think would be the best way to go for me?

I'm really confused by the whole thing.

p.s. i'm self employed.

cifpower

Are you on the Electoral Roll?

Because you have defaulted I would start with a card like Vanquis or Barclaycard Initial. Have you tried Barclaycard's pre-application checker yet?

lemma1968

We applied to go on the electoral roll this time last year but missed the automatic date, they have confirmed i will be on the roll from december 1st this year. I thought we were on it after applying last year.

Vanquis or Barclaycard Initial.

Thanks for your help.