The Sub Prime Credit Thread - Part IV

luckycat99

never-in-doubt wrote: »

Tesco is still processed and underwritten by RBS so it will pass to AVU (application verification unit) and they will have the final say so its not guaranteed until you get the card! I had the same and each time, I get a decline letter from AVU when I expect the agreement!

Hate em lol - Good Luck though, you may well have been accepted. kepp us posted please?

Just to let you know that I got the card from Tesco as promised, with credit limit and interest rates as stated. Very surprised and happy! :j

After many years of working hard to pay off my debts, I'm finally eligible for mainstream credit which means a great deal to me.

I've already balance transferred my Vanquis and Cap1 to the new card. Should I leave these accounts open for my credit rating, but not spend on them? If I close these I will have fewer than 3 credit accounts - can I keep them and not spend anything in them and reduce the credit limits? I just want my credit rating to look the best it can be.

Thanks

Zack1

luckycat99 wrote: »

Just to let you know that I got the card from Tesco as promised, with credit limit and interest rates as stated. Very surprised and happy! :j

After many years of working hard to pay off my debts, I'm finally eligible for mainstream credit which means a great deal to me.

I've already balance transferred my Vanquis and Cap1 to the new card. Should I leave these accounts open for my credit rating, but not spend on them? If I close these I will have fewer than 3 credit accounts - can I keep them and not spend anything in them and reduce the credit limits? I just want my credit rating to look the best it can be.

Thanks

Well done getting Tesco . I want that but as it would have to go through AVU I don't think I'll even attempt it!

They should carry on getting you the green 0's which will be good, reducing the limits would mean you have less "available credit" were you to go on a spending spree - a good thing when it comes to new applications. But if you spend on them you'll be close to maxing them out (possible sign of desperation) and there is no record as to why the limit is reduced, so if you have all low limits it may well be a bad thing. If your Tesco limit is high I would

wizzywig27

Whats AVU? I know its Varification something?

Zack1

wizzywig27 wrote: »

Whats AVU? I know its Varification something?

Application Verification Unit, it's unique to RBS (and cards issued by RBS - like Tesco). They manually check each accepted application, so even though you've been "accepted" it can later be turned into a decline. As many of my applications must be touch and go between accept/decline I don't want to risk AVU too!

wizzywig27

Ahhhh I have a satisfied default with RBS....hate that bank!

seeya23

wizzywig27 wrote: »

Ahhhh I have a satisfied default with RBS....hate that bank!

i hate natwest :rotfl::rotfl::rotfl:

wizzywig27

I also hate Allience & Leicester, they once opened an account, send out card and PIN, then day after sending card closed the account, was only a stupid post office one as well!

Zack1

seeya23 wrote: »

i hate natwest :rotfl::rotfl::rotfl:

:rotfl: Me too!

At least Halifax should reply tomorrow. I was told to phone back Monday when they'd hopefully have a decision, hopefully they stick it online or email me (my email is automatically checked every 5mins)

wizzywig27 wrote: »

I also hate Allience & Leicester, they once opened an account, send out card and PIN, then day after sending card closed the account, was only a stupid post office one as well!

:rotfl:They rejected my request for an overdraft. It's stupid because it makes you type the limit (I know some CCs do that too if you want an increase), I put 500, might be too much .

I'm considering going for 50k overdraft for a laugh, but I think they'd still search me! :mad:

wizzywig27

Zack1 wrote: »

:rotfl: Me too!

At least Halifax should reply tomorrow. I was told to phone back Monday when they'd hopefully have a decision, hopefully they stick it online or email me (my email is automatically checked every 5mins)


:rotfl:They rejected my request for an overdraft. It's stupid because it makes you type the limit (I know some CCs do that too if you want an increase), I put 500, might be too much .

I'm considering going for 50k overdraft for a laugh, but I think they'd still search me! :mad:

They are annoying that bank, smal fry compared to HBOS and Barcays, or they were anyway!

seeya23

i also hate abbey they are useless i ask for a new card and they want me to open a new account lol