The Sub Prime Credit Thread - Part IV

TheEffect

First Direct wouldn't give me a credit card.

I phoned them today and they went through an application and took into account my HSBC accounts. They interrogated me a little more then I felt comfortable with (wanting to know what a £150 debit card payment to o2 was, and to Aqua).

She took a look at my credit rating and asked why I had so many searches. I explained I was 18 and just got into the spiral of decline, apply again etc. She said to me she can see I clear my balance every month and that she feels that I do not need a credit card at the moment and that she must decline the application this time.

She advised me to stop applying for credit when I do not need it.

Zack1

TheEffect wrote: »

First Direct wouldn't give me a credit card.

I phoned them today and they went through an application and took into account my HSBC accounts. They interrogated me a little more then I felt comfortable with (wanting to know what a £150 debit card payment to o2 was, and to Aqua).

She took a look at my credit rating and asked why I had so many searches. I explained I was 18 and just got into the spiral of decline, apply again etc. She said to me she can see I clear my balance every month and that she feels that I do not need a credit card at the moment and that she must decline the application this time.

She advised me to stop applying for credit when I do not need it.

Hey!?! How can she feel that? If you want a credit card then surely it's not up to them to say if you need it or not! Surely the fact you don't "need" it in her words is a good thing, as it means you're not in masses of debt and trying to claw yourself out with more borrowing

Credit in this country is seriously screwed......

wizzywig27

TheEffect wrote: »

First Direct wouldn't give me a credit card.

I phoned them today and they went through an application and took into account my HSBC accounts. They interrogated me a little more then I felt comfortable with (wanting to know what a £150 debit card payment to o2 was, and to Aqua).

She took a look at my credit rating and asked why I had so many searches. I explained I was 18 and just got into the spiral of decline, apply again etc. She said to me she can see I clear my balance every month and that she feels that I do not need a credit card at the moment and that she must decline the application this time.

She advised me to stop applying for credit when I do not need it.

I didnt know they could have that amount of information at their disposal there and then, quite an eye opener really!

ElkyElky

noah271007 wrote: »

Sorry to hear the bad news. DO appeal, as you got nothing to lose!

What criteria do you have to meet before approval?

Salary?

I have no idea, possibly because I'm a student or because I have too many credit searches.

ElkyElky

I got my NatWest loan agreement through today. It says they'll pay the money into my account within 2 days after receiving my signature.

Zack1

ElkyElky wrote: »

I got my NatWest loan agreement through today. It says they'll pay the money into my account within 2 days after receiving my signature.

That's good

Is the overdraft increase for students guaranteed if we ask for it? I'm still on £500. I'm not supposed to be in my overdraft, but I've got money coming in tomorrow & Thursday, just don't want to wait until then so want it boosted

ElkyElky

Zack1 wrote: »

That's good

Is the overdraft increase for students guaranteed if we ask for it? I'm still on £500. I'm not supposed to be in my overdraft, but I've got money coming in tomorrow & Thursday, just don't want to wait until then so want it boosted

I don't believe so. I think they'll review your request like any other request and make sure you've got the funds available to repay it. You're better off without it to be honest. I hate overdrafts, evil nasty things they are.

Zack1

ElkyElky wrote: »

I don't believe so. I think they'll review your request like any other request and make sure you've got the funds available to repay it. You're better off without it to be honest. I hate overdrafts, evil nasty things they are.

Haha damn. Well 2k went out my account to a betting site last night, so if anything they'll lower it :rotfl::mad:

Yea I don't use it, but it's good to have if it's only going to be used for say a day or 2 (while other money is pending).

How come you don't like them? They trash your credit report but the 0% ones aren't that bad . It's the ones that charge £1 a day etc that are evil though

never-in-doubt

Ive reposted this so it didn't end up at the bottom of last page lol - being so many of us applied it shouldn't be missed :D

I just got a call from Bank of Cyprus - they confirmed my missing tenner had been allocated to my new account, with the other tenner so i'll be in credit by £20 when they open the account tomorrow.

That's what she said - I asked, does that mean my application was successful and the account has been opened to which she replied 'tomorrow Mr Niddy'..... One area of concern though, when she rung she said who she was, asked if I was Mr Niddy and then started speaking (as above) - no security! Granted, there was nothing personal being discussed but still, I may have to (if it does get opened tomorrow) test them for security by ringing and messing up i.e. give wrong date of birth or something and see if they pick up on it!

However, if I hear anything tomorrow i'll update the thread....

Zack1

never-in-doubt wrote: »

I just got a call from Bank of Cyprus - they confirmed my missing tenner had been allocated to my new account, with the other tenner so i'll be in credit by £20 when they open the account tomorrow.

That's what she said - I asked, does that mean my application was successful and the account has been opened to which she replied 'tomorrow Mr Niddy'..... One area of concern though, when she rung she said who she was, asked if I was Mr Niddy and then started speaking (as above) - no security! Granted, there was nothing personal being discussed but still, I may have to (if it does get opened tomorrow) test them for security by ringing and messing up i.e. give wrong date of birth or something and see if they pick up on it!

However, if I hear anything tomorrow i'll update the thread....

Haha. So you sent 2 tenners through? Damn I should've done that. I've really gotta get my ID sorted tomorrow, then I should be able to print and send both my letters Friday (they'd print for me in the meantime apparently, but only academic stuff! ). Well done if you do get the account though, to tell you it's been allocated I'd assume you have, otherwise they'd just return it?