The Sub Prime Credit Thread - Part IV

Cash_Flow

wizzywig27 wrote: »

Ok I was hoping someone may be able to help me with this....

I am asking for my mate. Basicaly he has a settle default to HSBC on his file, it was settled in 2006, and the amount was for roughly 1k. Anyway he currently has an account with Nationwide, but they wont upgrade him to a debit card, yet he really needs one for online purchases etc. Can anyone suggest a bank that may be able to help?

Ps when was the default in 2004?

As it must be due to depart his credit file this year:j

alfred64

Nationwide also declined me for debit card.
Opened account with Co-operative bank. - No restrictions.

Was also accepted by HSBC but did not open account.

wizzywig27

Cash_Flow wrote: »

Ps when was the default in 2004?

As it must be due to depart his credit file this year:j

Sorry mate I edited it to 2006 :rotfl:

Zack1

Cash_Flow wrote: »

Zack just because you have green (0) it does not automatically mean you are intitled to credit.

Cash_Flow wrote: »

Infact any new accounts will lower your score if anything.

I know that, that's why the credit system in this country is a shambles. I had to give o2 £150 purely because I was 18 and had no history. Guilty until eventually proven innocent.....and when you're a student it gets even worse! And I have no new accounts since the last run of the pre-application check, so as I've only been getting 0's my score could only have improved in the meantime.

It's just frustrating to be declined for things that I want, especially when the reason is the tosh about "responsible lending". I'm an adult and know how much money I get (and can do a better job at working it out than them, seeing as they only ever get the full facts once I appeal!!) - so I also know how much I can afford to pay and by applying for a card I signal that I understand that, therefore if I have always met payments in the past then why judge me and assume I'm not going to be able to do the same in future? :mad:. That's what annoys me the most about Halifax, as I have no intention of even getting credit on their reward current account! Got a lovely letter ready to be printed and sent to them when my card starts working...

NONE of the decisions come down to anything I have done wrong, it's because I'm 18 and have had little credit before (understandable as the law wouldn't allow me to have any!) or that a student. Even now when I've managed credit well for nearly a year I'd get told to sod off if I applied for some things, searches or not

noah271007

Cash_Flow wrote: »

Explain a little more about this scheme please:o

http://www.tescofinance.com/personal/finance/finance/creditcards/bnpl.jsp

I believe Argos offer the same scheme on their credit card....

Zack1

noah271007 wrote: »

http://www.tescofinance.com/personal/finance/finance/creditcards/bnpl.jsp

I believe Argos offer the same scheme on their credit card....

Yea, that scheme is good. And yep, Argos do (unless it's changed recently) offer the same, it was listed on my credit agreement and other leaflets they gave

noah271007

I didn't know about this extra feature Buy Now Pay Later scheme. A bonus! No wonder why they have a high customer satisfaction according to Which! magazine.

yenool

HI, I applied for a cap one card and it let me all the way through the application, I even had to 'sign' an online agreement. However at the final step it told me they had to do further checks / verifications????

Does anyone know what that means and how long it takes to get a rejection or acceptance letter?

Innocent_Guy

yenool wrote: »

HI, I applied for a cap one card and it let me all the way through the application, I even had to 'sign' an online agreement. However at the final step it told me they had to do further checks / verifications????

Does anyone know what that means and how long it takes to get a rejection or acceptance letter?

Usually when you sign the credit agreement online you have been accepted however I wouldn't hold your breath until the card drops through the letterbox :-)

seeya23

yenool wrote: »

HI, I applied for a cap one card and it let me all the way through the application, I even had to 'sign' an online agreement. However at the final step it told me they had to do further checks / verifications????

Does anyone know what that means and how long it takes to get a rejection or acceptance letter?

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