The Sub Prime Credit Thread - Part IV

ARTooD2

Just phoned capital one and much to my suprise I have been accepted. They said they have sent out the credit agreement to sign so am just waiting now . Strange Cap 1 accepted me but Vanquis was a decline. Oh well...

izools

What was your history like, ARTooD2?

Notmyrealusername, quite right sounds like Vanquis are your best bet. But please for the love of god never ever spend more than you can afford to repay in full each month. Vanquis probably will have you up to a £2,000 limit after a year but your APR will still be sky high. Don't get tempted - the interest will cripple you


... Well I'm due a Vanquis statement to be produced today (Statement 10) I wonder if I'll get an increase? I'll find out tomorrow when I call ... (Wish me luck!)

ARTooD2

Pretty shocking to be honest. 2 Defaults (satisfied) dropping off next year one of which was capital one and 1 more (not satisfied) dropping off a year later. Most of my credit accounts have been opened in the last year. Just trying to improve my rating for when the day comes to get a mortgage.

izools

Lol not as shocking as my credit history... BR & six defaults...

Surprised they said YAY when you defaulted on a Cap 1 account already... oh well, well done!!

ARTooD2

I was wondering about that myself. Also can't fathom why if Cap 1 accepted me with defaulting with them (albeit nearly 6 years ago) Vanquis wouldn't. But there we go.

selecta_c

Got the dreaded Vanquis minimum finance charge of £1 on my statement today,at the risk of sounding ignorant...........why?

izools

Vanquis' system breaks if a transaction is applied to the account on the statement date.

Call them on their free number (0800 781 6314), and they'll refund it. Might be worthwhile raising a complaint and follow it through to the bitter end, seeing as they've known about the problem for years and not fixed it yet...

Up to you how much your time is worth, but at least call them to get a refund

notmyrealusername

izools wrote: »

Notmyrealusername, quite right sounds like Vanquis are your best bet. But please for the love of god never ever spend more than you can afford to repay in full each month. Vanquis probably will have you up to a £2,000 limit after a year but your APR will still be sky high. Don't get tempted - the interest will cripple you

Trust me, my lesson has been well and truly learnt. The IVA was 3 years of financial hardship and now I'm a saver rather than a spender. The Vanquis application will only be to improve my credit rating for a potential future mortgage when the IVA drops off my file. I'll be puttingh my petrol on it and paying it off the second the bill comes in!

kilasuit

Any1 know the HSBC number to check if i've been sucessful with my bank account application?

Innocent_Guy

What is the easiest sigma card to apply for?