The Sub Prime Credit Thread - Part IV

Cash_Flow

What made you opt for tesco?

I thought you were looking for a cc provider who searched Equifax:rotfl:

cybermum

Hi everyone,
Looking for a bit of advice as my head is swimming here lol
I am in the process(slow process!)of rebuilding my credit rating after some very difficult times in the past few years 2003-2006 where we had to sell our home due to losing jobs and therefore to manage repo.
Added to that the non-essential debts got put on the backburner and though trying to keep up with it all suffered a breakdown.

So here we are now starting again in rented(private housing) and working like a demon to repair the damage.
I have managed to get some great info here and so opened a JD Williams account(limit currently at £200),and a Cap 1(I know,but they were the first I though of) ,set up a DD with them and pay extra(limit £200).

I also have a next account but will close that next month due to them raising and lowering the limit all the time and now tell me they will give me no limit at all.

So my last application for credit was September last year with Cap 1 and I had the stupid idea of applying for a CC with my bank Halifax so I could BT Cap 1 over to it.
They have just instantly refused it.

What/where do I go from here?
I have read that trying to have a few credit accounts open and racking up those green 0's helps.
So I have toyed with trying for a mobile phone(the one I have now is like 8 years old!) or a CC with someone who would perhaps give me a shot?

Is it a good idea or am I better to hold tight for now given I have just got knocked back from Halifax

Thx

TheEffect

I may apply for a First Direct Credit Card. They've given me an account and overdraft. My luck has to run out sometime...

noah271007

Cash_Flow wrote: »

What made you opt for tesco?

I thought you were looking for a cc provider who searched Equifax:rotfl:

Simply because they offer a better APR% and 0% interest free balance transfer for 6 months. So thought i might as well apply for Tesco first.

It was approved automatically as i was going through the application process...i was expecting to click on the button and wait for 10-20 secs while credit checks are ongoing. I did check my Equifax credit report, and there is no credit check by Tesco (i thought credit searches are added more or less in real time?).

noah271007

TheEffect wrote: »

I may apply for a First Direct Credit Card. They've given me an account and overdraft. My luck has to run out sometime...

Go for it!!

cybermum

Just to add to my last post:just checked my JDW account online and my limit has now gone up to £600
Moving in the right direction,for once .

sutton111

TheEffect wrote: »

I may apply for a First Direct Credit Card. They've given me an account and overdraft. My luck has to run out sometime...

Bloody hell!! How many bank accounts now do you have? :rotfl:

What OD did you get? And did you gt a CGC too?

TheEffect

I have way to many. Closing all bar First Direct and HSBC. £250 overdraft (interest free). No CGC (they said I have to request this specifically if I want one, which I don't at the minute).

I've just applied for their credit card.

Thank you

Your application for a first direct Credit Card has been received. We will contact you within the next 72 hours with a decision. If your application is accepted you will receive an application form in the post for you to sign and return to us.

If you need to discuss your application or require an instant decision please call us on 08 456 100 199.

cifpower

Give them a ring!

Cash_Flow

noah271007 wrote: »

Simply because they offer a better APR% and 0% interest free balance transfer for 6 months. So thought i might as well apply for Tesco first.

It was approved automatically as i was going through the application process...i was expecting to click on the button and wait for 10-20 secs while credit checks are ongoing. I did check my Equifax credit report, and there is no credit check by Tesco (i thought credit searches are added more or less in real time?).

Thats because Tesco use Experian for CC applications:rotfl: