Sub Prime Credit Thread Part III

never-in-doubt

Minthumbug wrote: »

Thanks for repling Hax,

Yes I have have been declarted bakrupt, in 2005. So i would natuarlly assume that this is the reason why I have been declined.

But why have Aqua stated on the rejection statement that it is not due to adverse information on my credit file

Its because the B/R will not have an adverse effect therefore they are right, its nothing to do with your credit file - it is purely because you are too high risk.

Their internal scoring (this is their score prior to any external credit data) will score lowly if you are a b/r within 6 years. Therefore you'll find that you'll struggle for a few years yet - even though they say you shouldn't, unfortunately banks do hold it against you.

If you went through the whole application then they will search you, this one search will have no impact on your credit score either.

Hope that clears it up for you.

never-in-doubt

Minthumbug wrote: »

how can i tell ?

Does it show as credit search or as a quotation/i.d check etc?

But as above post, it should be a full search cos you applied!

Minthumbug

not really Nid :-

Its because the B/R will not have an adverse effect - it is purely because you are too high risk.

I'm a high risk because I've been made bankrupt and this therefore has an adverse effect, surely ?

Thats the reason i've been rejected but they are stating that its not ?

never-in-doubt

Minthumbug wrote: »

not really Nid :-

Its because the B/R will not have an adverse effect - it is purely because you are too high risk.

I'm a high risk because I've been made bankrupt and this therefore has an adverse effect, surely ?

Thats the reason i've been rejected but they are stating that its not ?

No, you're missing my point. The b/r will not show on your credit file, it shows on the public database. So, when they say its not to do with your credit report they are right. It is to do with you being a risk.

Credit is assessed using 3 parts of data; 1. Internal Scoring. 2. Credit Report History. 3. Adverse credit data and other public data and history.

So in your case the credit file showed no problems, but they think you're a high risk cos you were b/r only 4 years ago. That's all. You failed part 1 - their internal score.

Don't worry - just hold fire a while and reapply to somewhere like Vanquis.

Minthumbug

Entry Number: P1

Name:[FONT=&quot][/FONT]

MR xxxxx[FONT=&quot][/FONT]

Address:[FONT=&quot][/FONT]

xxxxxxxxxxxxxxxxxxxx [FONT=&quot][/FONT]

Date of birth:[FONT=&quot][/FONT]

xxxxxxxxxxx[FONT=&quot][/FONT]

Searched on:[FONT=&quot][/FONT]

13/11/2009[FONT=&quot][/FONT]

Time at address:[FONT=&quot][/FONT]

xxxxxxxxxxxx[FONT=&quot][/FONT]

Searched By:[FONT=&quot][/FONT]

HALIFAX CARD SERVICES[FONT=&quot][/FONT]

Application Type:[FONT=&quot][/FONT]

Credit Card[FONT=&quot][/FONT]




Thats all my experian (on line) file shows ..... nothing states quotation or credit search

never-in-doubt

Minthumbug wrote: »

Thats all my experian (on line) file shows ..... nothing states quotation or credit search

As I said, a full search.

You applied therefore they searched you.

christhesparky_2

evening chaps,

has anyone tried applying for the capital one progress card?

can you apply for one if you already hold the capital one classic visa?

http://www.capitalone.co.uk/creditcards/progress-credit-card.jsf

according to moneysupermarket it is designed for people with improving credit files

Innocent_Guy

What exactly is public data? What does it contain?

never-in-doubt

christhesparky wrote: »

evening chaps,

has anyone tried applying for the capital one progress card?

can you apply for one if you already hold the capital one classic visa?

http://www.capitalone.co.uk/creditcards/progress-credit-card.jsf

Here is the CCA relevant to the card: https://www.capitalone.co.uk/creditcards/secure/terms-and-conditions.jsf

never-in-doubt

Innocent_Guy wrote: »

What exactly is public data? What does it contain?

CCJs, court orders & fines - Search yourself and others - Trust Online