The Sub Prime Credit Thread - Part IV

izools

Zack1 wrote: »

What does your credit rating have to be like to get it? If it's "Diamond" then pretty good? But then it's Vanquis......

I've been rejected for their normal card though so I won't get it, if I get accepted it might be worth a shot....

Well in the summary box the APR is quoted as up to 59.9% so I guess they are just as easy to get your hands on as the "Normal" Vanquis card.

I expect they advertise their APR as 29.9% instead of 39.9% because people with bad credit are more likely to go with the Vanquis brand, not the Diamond brand, ergo those that apply for this one are given a lower APR so they can advertise it as being lower...

I shan't join in with the applying - I'm on a six month sabbatical from applications

yenool

I received my capone card today with a £300 limit.

Any tips or links to threads with the best advice on how to manage the account in a way which will best improve my credit files and get a limit increase in the future?

What I mean is should I look to spend up to the max and clear it every month or always have a balance of like £50 and pay it off min payments or what?

izools

Clear it in full every month. How much you spend depends on how much you can afford to repay in full. If you can afford to put £300 a month on it an repay in full, great, but try to keep it under 75% ~ 80% of it's credit limit.

never-in-doubt

Egg Money only ask for 2 years addresses now as well: http://new.egg.com/visitor/0,,3_104079--View_2184,00.html

[FONT=Arial, Helvetica, sans-serif] To apply for Egg Money you need to satisfy certain requirements for statutory, regulatory and practical reasons, details of these are provided below.

You can apply if you:

[/FONT][FONT=Arial, Helvetica, sans-serif] are aged 18 years or over.

are permanently resident in the UK (excluding Channel Islands and Isle of Man).

are able to provide us with residential addresses for the last two years.
[/FONT]

notmyrealusername

:j:j:j:j:j:j:j:j:j:j:j:j:j:j:j

Vanquis accepted me

IVA concluded by way of full and final settlement Sept/Oct 09, three settled defaults listed on credit file (not including three defaulted accounts from Max Recovery that were on there but when I asked them to mark them as satisfied they removed them instead!).

Applied online via Quidco for £25 cashback on Saturday, they rang me this morning and asked me to confirm my name, address and phone numbers - nothing else - and said I'd been accpted. Offered me a £450 cash advance over the phone so from what I've read on here my limit will be £500 :T

I will only ever use it for putting my petrol/groceries on and then will pay off in full every month - just looking for some more green o's for my credit report.

Zack1

izools wrote: »

Well in the summary box the APR is quoted as up to 59.9% so I guess they are just as easy to get your hands on as the "Normal" Vanquis card.

I expect they advertise their APR as 29.9% instead of 39.9% because people with bad credit are more likely to go with the Vanquis brand, not the Diamond brand, ergo those that apply for this one are given a lower APR so they can advertise it as being lower...

I shan't join in with the applying - I'm on a six month sabbatical from applications

Yea I've just seen the tiered system they use



The (variable) APR in relation to your Account at the time of the agreement is one of the following:

• Tier A) 19.9% APR (variable);
• Tier 29.9% APR (variable);
• Tier C) 34.9% APR(variable);
• Tier D) 39.9% APR (variable);
• Tier E) 49.9% APR (variable);
• Tier F) 59.9% APR (variable).

So I may be more likely to get that than normal Vanquis, as normal Vanquis would tell me to clear off, but they might give me some at 60% (ouch!)?? If purchases are 59.9% what are cash advances!?!? :eek::eek:

It says bear in mind they can only accept 1 every 6 months.... I applied for normal Vanquis in November, so does that rule me out of trying for this until June?

ElkyElky

Zack1 wrote: »

Yea I've just seen the tiered system they use



The (variable) APR in relation to your Account at the time of the agreement is one of the following:

• Tier A) 19.9% APR (variable);
• Tier 29.9% APR (variable);
• Tier C) 34.9% APR(variable);
• Tier D) 39.9% APR (variable);
• Tier E) 49.9% APR (variable);
• Tier F) 59.9% APR (variable).

So I may be more likely to get that than normal Vanquis, as normal Vanquis would tell me to clear off, but they might give me some at 60% (ouch!)?? If purchases are 59.9% what are cash advances!?!? :eek::eek:

It says bear in mind they can only accept 1 every 6 months.... I applied for normal Vanquis in November, so does that rule me out of trying for this until June?

Their cash advance rates are 10((^10)^100)% (you do the math).

wizzywig27

Zack, I would say your ok to apply, as they are two seperate cards, with same parent company!

noah271007

never-in-doubt wrote: »

Egg Money only ask for 2 years addresses now as well: http://new.egg.com/visitor/0,,3_104079--View_2184,00.html

So does this mean they will check back to 2 years like like Tesco?

ElkyElky

There's something not right about that diamond credit card website.

Has anyone actually called Vanquis to confirm it is a part of them, and not some sort of phishing website?