Sub Prime Credit Thread Part III

kilasuit

i'd make a small purchase on these accounts and leave all applications till at least next year as you'll have 10 searches in such a small space of time

OR

you could apply to Vanquis and leave it at that as otherwise it'll look like your desperate for credit

but either way leave [IMG]file:///C:/Users/ryan/AppData/Local/Temp/moz-screenshot-1.jpg[/IMG][IMG]file:///C:/Users/ryan/AppData/Local/Temp/moz-screenshot.jpg[/IMG]
Alone!

Mrs_Ryan

Just a word of warning to anyone with a Capital One card what happened to me yesterday...

I was a bit naughty when I was Xmas shopping on Saturday and realised I was very slightly over my limit (bang goes my increase then :rotfl:) literally within 45 minutes of making the transaction, I phoned and paid £5 by debit card (I was 64p over my limit )
I checked my account at work yesterday, but my internet on my phone was playing up, so I rang them up. I didnt have my card on me, but I eventually got through to Customer Relations. I gave them my details and asked them if they could tell me if the payment was showing. No, we cant tell you anything, they said. Your account is restricted and we cant see it - you have ot ring this number they gave me between 9 and 5.30 tomorrow, end of.

I lost the plot at that point and started asking them complicated questions about blocks and markers etc (ex Capital One staff - comes in handy sometimes) Of course, they had no idea what I meant and it sent them into stunned silence. (they should know what I meant!) So I rang the number this morning and got through to a very nice man in - Application Fraud :eek: who was rather concerned why I had been given the number - he said my account was fine, the payment had cleared, and as far as they were concerned it was a normally run account, I had cleared security and I had obviously applied for the card myself. I rang CR back who couldnt care less basically but Im just a bit concerned that they're able to insinuate someones account is fraudulent when it isnt!!!!

izools

That's just the service one has to expect when deallin with an offshore call centre.

Just thank your lucky stars you didn't have to explain to Barclaycard (also offshore) that Vanquis don't accept automated balance transfers and it would have to be done manually... the first three people I spoke to copped out claiming I wasn't eligible to make a balance transfer. Eventually I got through to someone in Retentions I think because I asked to close the account and it got sorted


BOOOOOOOOOOOOOOOOO for badly run offshore contact centres!!!

Agent_Scully_2

Thanks for the big red button! Just bought two sofas from GU and Empire which are much needed and a playpen from Very with quidco cashback, interest free payments and 15% off voucher so not feeling that guilty now!

Might have to leave credit cards until the ccj has disappeared....

tamsin1982

I got accepted for a cap one card and given a £500 limit in august. Paid on time and hope for a limit increase next month my credit isn't 'that' terrible, no ccjs and haven't missed any payments in ages that i can think of but i really to struggle to get credit possibly due to my teenage addiction of catalogues and a bad experience with barclaycard
I want to apply for something else to see if its improved but i dont want to put a big fat NO on my file scaring people off again!! can anyone suggest something easy to obtain? I have read though but there seems alot of choice

izools

TBH if you have a Cap1 and several catalogues I'd leave all well alone for six months. Those few accounts will be building your credit score.

Applying again and having another search and another new account will lower your score further - the longer you can abstain from applying for something and continue running your existing accounts well, the greater your chances of being accepted elsewhere when you do give in and apply. But do give it ateast six months

tamsin1982

sorry I should've said I haven't got a single catalogue account anymore :eek:
I slowly defaulted on all of them and ended up paying them back under payment plans which took me quite some time and taught me a big lesson!

izools

Oh...

In that case the other two you might want to consider are Vanquis and Aqua.

Please only consider applying for either / both of these cards if you are confident that you can pay the full amount each month, and if you are prepared to set up a direct debit to take the full amount.

The interest rates are astronomical, especially Vanquis who can be up to 59.9% APR, but both Vanquis and Aqua can be excellent in helping you build your credit score back up.

Are all your defaults satisfied now? Once they are all satisfied and at least three years old I'd reccomend applying for a Barclaycard Initial or Barclaycard Gold, these are good cards to get when looking to make the transition from sub prime, to prime.

If you can get a Barclaycard Inital (not worth trying now IMO it'll just be a wasted credit search) it can be a good long term companion, if you max out the card and clear the balance to zero over six months, call up after your sixth statement and ask to close the account due to the APR they should reduce it.

I did this the first time I had a Barclaycard Initial, and in the end I'd managed to get the APR from 25.9% where it started to 9.9%

Anyway, good luck with Vanquis and Aqua, and remember - DD full amount!!

izools

UPDATE - Closed Aqua and applied for Capital One.

That's my two applications done for these here six months. Fingers crossed!!

Atleast it wasn't a straight decline - it was when I last applied for Cap 1 Classic in May

tamsin1982

izools wrote: »

Oh...

In that case the other two you might want to consider are Vanquis and Aqua.

Please only consider applying for either / both of these cards if you are confident that you can pay the full amount each month, and if you are prepared to set up a direct debit to take the full amount.

The interest rates are astronomical, especially Vanquis who can be up to 59.9% APR, but both Vanquis and Aqua can be excellent in helping you build your credit score back up.

Are all your defaults satisfied now? Once they are all satisfied and at least three years old I'd reccomend applying for a Barclaycard Initial or Barclaycard Gold, these are good cards to get when looking to make the transition from sub prime, to prime.

If you can get a Barclaycard Inital (not worth trying now IMO it'll just be a wasted credit search) it can be a good long term companion, if you max out the card and clear the balance to zero over six months, call up after your sixth statement and ask to close the account due to the APR they should reduce it.

I did this the first time I had a Barclaycard Initial, and in the end I'd managed to get the APR from 25.9% where it started to 9.9%

Anyway, good luck with Vanquis and Aqua, and remember - DD full amount!!

Ive been pretty good with the cap one card, paid in full the first month, then set up a SO and paid the 2nd bill in full but over 2 instalments and same with the 3rd, just so they think they may earn money out of me :cool:

just had a look at my report, never seen it before 7 satisfied, 1 settled and one default :eek: with a remaining balance of £55 but they take that DD so not gonna change til its paid i guess.

barclaycard are happy with me :rotfl:i thought they hated me! still got £158 outstanding with them aswell which is interest free on payment plan.

would it be sensible to clear the default one before?