The Sub Prime Credit Thread - Part IV

never-in-doubt

Basically, you need to stop applying period! Wait 6 months then try MBNA and see what happens lol.... you'll get into as spiral of declines if you're not careful and before long have that many searches as well.... it does not look good when you have repeated searches with the same lender either!

Off to walk the pooch, back in 30 mins or sooner!

Zack1

never-in-doubt wrote: »

Ok, from the start (i'll make it nice and easy for you hehe)...

MBNA are a mainstream lender, they clearly state that one application is permitted in any 6 month period, whether accepted or not. This means any additional app's will be auto declined at source, i.e. they won't even use the CRA data supplied in the search cos you failed the first hurdle - 'do you qualify' - no!

Therefore you cannot apply again until 6 months have passed since your last application, which assuming it was 23rd November then it would 25th May next year (6 months plus a couple of days extra).....

Regards to England card, they really aren't that good mate! MBNA do most the football clubs cards - there are better cards out there - Much better cards!

Filling in the paper form makes no difference, it does confirm you exists but that's it - nothing has ever been proven that suggests the street vendors help an applicant get accepted, it only proves they have seen a human claiming to be that person. In the old days (i.e. 10+ years ago) they used to help, I always applied at the airport and always got accepted.... not so now though.

Crappy1 as with other sub primers, state 6 month between app's but are happy to re-evaluate earlier if a significant change affected the original decision. So say I apply in August but have a default so get declined, but then I fight and get the default removed in November and decided to reapply, this wouldn't be instant decline because my new app is based on the principle reason for declination the first time round....

Make sense? :beer:

Ah cool, I'll have to wait til just after my birthday then (and 2 searches would have dropped from the last 12 months then too plus as I won't apply for anything else I'd have no searches in 6 months and have green 0's on 7 accounts between now and then (8 if Barclaycard accept me!)).

Yea but as a student I'm not that likely to get too many cards, and if MBNA were to give me an England one with a decent limit that would be great for now, until I get a cashback one of course, but I assume I won't get cashback one until I get a job so having a nice looking card would help

Ah I thought it might not make a difference, but if they've given you a free hat/scarf etc for applying they may want to make some money back off you through fees.... Unless the hat etc only comes through once you are accepted, that could be the catch - they had loads there but didn't see if they were giving them out (and I was 17 at the time so couldn't apply)

Haha you don't like Capital One do you? That's the strange thing though, nothing has changed Unless they see additional 0's as a change (and it's positive) so they thought they'd accept me based on that. OR it's the student email address I used this time around

Be interesting to see what it says on your card - I assume it's on all the Classic's and not just something to do with my app, I don't understand why their highest APR card has Platinum on it though - possibly to make customers feel special and more likely to want to use it (and so rack up interest and charges)?

Off to get my post and see if Barclaycard have any news for me!

ElkyElky

I phoned Tesco to ask why I haven't got my card yet. They said they had to decline because of the notice of correction that was on my file, when I was disputing a linked address MBNA added.

I told them it was removed now so they want me to send them the email from Experian and a credit report. Now they'll see all of the lovely searches and probably decline because of that.

seeya23

ElkyElky wrote: »

I phoned Tesco to ask why I haven't got my card yet. They said they had to decline because of the notice of correction that was on my file, when I was disputing a linked address MBNA added.

I told them it was removed now so they want me to send them the email from Experian and a credit report. Now they'll see all of the lovely searches and probably decline because of that.

i hope you still get your tesco card after all that

never-in-doubt

ElkyElky wrote: »

I phoned Tesco to ask why I haven't got my card yet. They said they had to decline because of the notice of correction that was on my file, when I was disputing a linked address MBNA added.

I told them it was removed now so they want me to send them the email from Experian and a credit report. Now they'll see all of the lovely searches and probably decline because of that.

I assume this was declined at AVU then - bummer, I hate them! :mad::mad: I'd have been accepted with a great limit if it wasn't for those beggars! :rolleyes:

seeya23

what avu nid ????

never-in-doubt

seeya23 wrote: »

what avu nid ????

Its what is unique to RBS mate - Application Verification Unit - basically they check each and every application after you return the signed agreement or after initial acceptance.

So like me, I applied to Natwest and got instant accept with £2k limit; a week later got letter from AVU overriding the accept with a decline. Then same with Tesco, got offered and sent the CCA - signed and sent it back to get declined a week later by my mates at AVU.

Finally, Ulster Bank - got a £3k limit for the gold card and then AVU wrote declining me..... I figure I pass their criteria but AVU must decline me based on searches. So when I have less than 6 searches I will reapply (probs never then knowing me and my high search count lol)....

greenmantle

would you say six searches in six months is your top 'sensible' limit then?

never-in-doubt

greenmantle wrote: »

would you say six searches in six months is your top 'sensible' limit then?

Yes mate - 6 searches in 6 months or 10 over the year is usually acceptable to get a top rated card. If you have more than this then chances are you'd not get a premium card (such as Amex) but you'd be fine for the standard cards issued by the main banks....

ElkyElky

never-in-doubt wrote: »

I assume this was declined at AVU then - bummer, I hate them! :mad::mad: I'd have been accepted with a great limit if it wasn't for those beggars! :rolleyes:

I thought they weren't allowed to decline applications purely because of a notice of correction?

From my point of view, I'd have thought it was good to have inaccurate information corrected rather than leaving it and having Tesco use the inaccurate info for whatever reason.

Plus it was only a linked address, not like a default or CCJ. Wheres the harm in that? :mad: I'd scream profanity at them but I'm in too good of mood.