The Sub Prime Credit Thread - Part IV

ElkyElky

Zack1 wrote: »

:rotfl:Well done with what you did get though haha!

A Ford Escort, it's a little old but has very low milage, only 1 previous owner and it looks brand new. I need to upgrade the CD player and get an immobiliser fitted, but other than that, I love it.

wizzywig27

Aint heard from diamond credit card yet, its only been 10 hours lol, times that by 10 and thats when Vanquis will respond lol - saying that though, last time I applied to Vanquis, they contacted me the next day.....

kayla99

A few years ago I took a vanquis card with the intentions of rebuilding my credit history!!!!!!
Which for 6 years now, no missed payments on anything, BUT I spent on the Vanquis, and will feel I will probably be retired before I pay it off at this rate :mad:.

Has anyone successfully managed to transfer a Vanquis balance elsewhere?
I'm worried about applying to the wrong company and getting turned down and then have to wait to apply again, just want a CC with balance transfer facility that hopefully will accept me.

Any suggestions welcome

izools

noah271007 wrote: »

I have to disagree on that, as every lender have their own critieria so it vary and i think 17.9% is a reasonable APR at this time it does not mean lower credit scoring. Anyway a lot of CC issuers are increasing rates . some up to 15% of APR from orginal APR so that it pays for the defaulters who don't pay their debts back!

Only reason I've said that is the MBNA Classic Card APR has been 17.9% for 5+ years... and I was approved for one at age 19 with very little history, low salary, and living with parents, and a few too many searches. Admittedly they may have tightened up their criteria, but at the time it was much easier to get than any other sub-20% APR card (as I found out, anyway).

Anyway, whatever you decide, good luck. Have you considered spending an Equifax search on a Barclaycard application?

EDIT: It was even easier to get than Halifax - which at the time was a doddle - a year later I finally got approved for a Halifax One but at a higher APR (19.9%)

izools

kayla99 wrote: »

A few years ago I took a vanquis card with the intentions of rebuilding my credit history!!!!!!
Which for 6 years now, no missed payments on anything, BUT I spent on the Vanquis, and will feel I will probably be retired before I pay it off at this rate :mad:.

Has anyone successfully managed to transfer a Vanquis balance elsewhere?
I'm worried about applying to the wrong company and getting turned down and then have to wait to apply again, just want a CC with balance transfer facility that hopefully will accept me.

Any suggestions welcome

What's your credit history like? Have you got into any trouble since you took out the Vanquis card?

How many other credit accounts do you have (i.e. card, mobile, bank account, etc)?

Have you had a look at your credit file lately?

Zack1

ElkyElky wrote: »

A Ford Escort, it's a little old but has very low milage, only 1 previous owner and it looks brand new. I need to upgrade the CD player and get an immobiliser fitted, but other than that, I love it.

That sounds good, especially only having 1 owner before!

I've just emailed BOC back, saying my uni printing account is screwed and it was supposed to be sorted last week and hasn't been and that's why I wanted to email them the documents. Made the point that if they insist on a printout they'll get exactly the same thing as I would've emailed....so they'll probably decline me now :rotfl:

I said if they still aren't prepared to accept my original emailed documentation could they process the application with student status pending, so that I'd know if I've been accepted or not, see how that one goes down :rotfl:

kayla99

izools wrote: »

What's your credit history like? Have you got into any trouble since you took out the Vanquis card?

How many other credit accounts do you have (i.e. card, mobile, bank account, etc)?

Have you had a look at your credit file lately?

Thanks izools!


*Mortgage for 4 years - No missed payments, started at £114k now at £97k
*Secured Loan on house - No missed payments, balance of 3K but looking to remortgage soon and consolidate this with mortgage
*Next catalouge - £1k - no missed payments [I know I shouldn't]
* Car loan 2 years and £2k left with Peugeot Finance, no missed payments
*Credit cards Vanquis and Barclaycard :mad: £4k - no missed or late payments

I meet all my payments, but I'm getting really frustrated with the high APR ! Just want to reduce the APR and clear the debt quicker

I don't need to be told I'm an idiot !!! I already now !:mad:

Also mobile, house phone etc never missed a payment. Bank account is only a basic one, everytime I go into the bank the cashier asks about upgrading, i just worry they will say no when the application go's through

izools

Have you asked Barclaycard to increase your limit so that you can transfer a balance to them, or asked if there's a second card you can apply for with them? They are alright with existing customer offers.

Other than that it sounds like your credit history is pretty good, I would have thought the likes of Egg or MBNA wouldn't mind taking you on board as a customer

If a card provider says they can't transfer a balance from your Vanquis card, tell them they need to do a manual transfer, for which they will need Vanquis' sort code and account number, along with the card number, to process the balance transfer manually

kayla99

Thanks Izools, will consider my options.

Zack1

I also had a letter from BOC..... They are unable to proceed.... their loss!! I assume they get merchant fees like Credit Cards anyway? So they'd have got a fee for all my matched betting! Ah well! I would appeal but it's a waste of my printing money, good job I got this letter before my uni card worked!

Now I've got to pay this stupid cheque in!