The Sub Prime Credit Thread - Part IV

Miles30

Zack1 wrote: »

Strange, they certainly told me that though (and took their time explaining it when I phoned up to activate, then seemed shocked I didn't have any questions!!) so I'd say there should be no element of doubt. Clearly there is though, this could be a fun battle if they don't increase it. If they don't I'd push for it to go to £500 for the inconvenience caused too :rotfl:

Haha, I think it'll work, especially as if we're drunk and say we need a tenner or whatever to get in to the club and can they give us that and charge £10 more to the card....

:rotfl: Quite a few things are set to be decided between now and then, if it all goes in my favour then next week will be very interesting......

It'll be hard to top monday though, where I blocked one of my cards at the cash machine trying to put the wrong code in!! I use the same code for every card, but I don't know the Halifax & A&L pins as I swear they never sent them, that didn't stop me trying to get it to work though! Now I have to phone and get them to actually send one!

dont worry Zack, u will get your limit increase. the powers that be have sanctioned it lol. on a more serious note, it is quite rare for them to refuse increase. you can smile now :rotfl:

what are you like? you cant get water out of a stone, and you cant get cash out of cash machine if you dont have pin

lordash

Hi, long time lurker on this thread looking for some advice.

A while back I got myself into a huge financial mess, ended up in debt by over £20k and defaulted on 5 credit agreements. Now, finally, I managed to get myself out of this situation and could conceivably be debt free this year (at long last!), I am somewhat concerned that my financial misdeeds are going to make getting any reasonable credit virtually impossible for the next 6 years (last default is less than 1 year old :eek:). The problem is, I am in my second to last year at uni, and so when I graduate it would be very difficult to obtain credit at a time where I would be needing it.

I think I am doing things the right way, have set up an account with JD williams with £125 limit and bought £25 worth of stuff, paying it off over two months to get some zeros. Also got a 3 zero sim for more zeros and have a NatWest step account as well -- have been crediting it with at least £1k monthly in the hope that I maybe able to upgrade to a full account at some point (although unlikely as they were one of my original defaultees).

My only full current account is a student account with Barclays, which I do not believe offer pre-approved products on student accounts. All other current accounts are in arrears or defaulted (unfortunately I had them with most of the major banks). I do have a credit card with Halifax and one Aqua card, although these all have missed payments and 'arrangement to pay' markers up until very recently. I would ideally like to close these accounts to get rid of the bad history, but I know it would be impossible for me to get a card elsewhere (even been rejected from vanquis!!!) so have decided to keep them open since they are now populating my report with 0's. Is this the right thing to do?

I am wondering what further steps I can take to improve my credit rating. Unfortunately, getting new credit cards (even sub-prime) is out of the question as I know I will be rejected straight away (done it too many times before). So I guess its a case of waiting until things drop off (a very long wait!). I would also ideally like a full current account, as I feel that this would be my only gateway into the world of credit for the time being (through preapproved deals), but can't even open one of them.

Also, I know people in the past have had luck in removing defaults from credit reports by CCAing them, although I am unsure of how to go about this and even if this method still works! Unfortunately, most of my defaults are from overdrafts which I believe are exempt from the CCA requirements so I guess this is a no-go area.

Any advice welcome

izools

Lordash - concentrate on your debt for now - once you've cleared the £9.5K you have left we can consider what steps to take to rebuild your rating - you are doing the right thing - Three Sim Zero, Natwest Step, Aqua, and JD Williams are all good accounts to leave open - you don't need any more open those four are perfect, close everything else you have the second you've paid it off and that way you won't look over committed.

Don't go down the CCA route - it is very irresponsible, and you don't sound like the irresponsible type.

I think with your four accounts (3, JD, Auqa, Natwest) open and being paid on time (don't use the Aqua & JD whilst you're paying off your £9.5K just leave them open) you'll be in with a chance of being taken seriously once your £9.5K is gone

ElkyElky

My £100 Capital One is due an increase soon also. It's not the classic card so who knows if they'll just double it or go a bit wild and offer a few pound more.

I sent them a secure message asking why I was only given £100 and not the £500 stated in the cards summary box. Their reply: We're sorry you are not happy with the credit limit given to you. If you make a purchase blah blah we'll increase on the 4th statement.

benoit

I'm still mortified at being declined by Bank of Cyprus. How very dare they? The head office is only up the road from me, i might pay them a visit and appeal. lol

PARIS_5000

Zack1 wrote: »

:eek::eek::eek::eek::eek::eek::eek::eek::eek::eek::eek::eek::eek:


.........is about all I can say to that.......

If you get any kind of written confirmation, frame it! :rotfl:

When they send my statement next month it will show the new limit but the new limit is available on my online account when I log in.

It does not matter to me that they raise it but I find it shocking that it took so long for a second increase.

tos_2

Zack1 wrote: »

:eek::eek::eek::eek::eek::eek::eek::eek::eek::eek::eek::eek::eek:


.........is about all I can say to that.......

If you get any kind of written confirmation, frame it! :rotfl:

I got an increase from £100 to £600 yesterday.

seeya23

tos wrote: »

I got an increase from £100 to £600 yesterday.

this capone then

Zack1

ElkyElky wrote: »

My £100 Capital One is due an increase soon also. It's not the classic card so who knows if they'll just double it or go a bit wild and offer a few pound more.

I sent them a secure message asking why I was only given £100 and not the £500 stated in the cards summary box. Their reply: We're sorry you are not happy with the credit limit given to you. If you make a purchase blah blah we'll increase on the 4th statement.

:rotfl: I hate the standard replies they send back, I got one about it's not possible to disclose my increase so their 'confidential' policy remains effective and all this rubbish :rotfl:

benoit wrote: »

I'm still mortified at being declined by Bank of Cyprus. How very dare they? The head office is only up the road from me, i might pay them a visit and appeal. lol

:rotfl:Ask them about my account while you're in there

PARIS_5000 wrote: »

When they send my statement next month it will show the new limit but the new limit is available on my online account when I log in.

It does not matter to me that they raise it but I find it shocking that it took so long for a second increase.

You're lucky you got a second increase from what I've been reading! They don't like giving more than 1!

TheEffect

I've lost 5 pounds since January 1st. I know it's not amazing, but it's definitely a step in the right direction, and so it should be for a £60 a month gym membership...