The Sub Prime Credit Thread - Part IV

Innocent_Guy

I wonder why B/C don't give instant limits? Do you think that the computer says your eligible as a customer but then someone manually determines the credit limit?

seeya23

Innocent_Guy wrote: »

Ohh ok, what is her credit file like matey?

she got note bad on her credit file it.s just me i pull her down with my 2 ccjs

izools

never-in-doubt wrote: »

Mate Tesco search Experian and Equifax so if anything bad was there, they'd revert to Equifax and if this was good then cool - accepted

I thought the whole point of this was so that if there was adverse on either it would be declined. Mother was declined for a Tesco card based on her EX file alone - they didn't check EQ just "No" from EX.

I have no adverse on my EQ but I'm sure any creditor that searched both would tell me to go whilstle... I.E. like HSBC did for a cash account!

never-in-doubt

Innocent_Guy wrote: »

Thought it would like better if my o/d balance was reported as £0?

makes no difference mate - so long as you're within your overdraft which the [0] suggests.... If you went overlimit then it would show [1] :beer:

never-in-doubt

izools wrote: »

I thought the whole point of this was so that if there was adverse on either it would be declined. Mother was declined for a Tesco card based on her EX file alone - they didn't check EQ just "No" from EX.

I have no adverse on my EQ but I'm sure any creditor that searched both would tell me to go whilstle... I.E. like HSBC did for a cash account!

Thats correct mate but Innocent only has a link that is wrong, not adverse. Any minor adverse (like a payment late or too many searches/noc's etc) goes for appeal, i.e 'we'll let you know within the next 7 days'.... They won't auto decline unless you have a CCJ/Default/Adverse data or failt their basic credit criteria, i.e. applied twice in a month or something daft like that.

never-in-doubt

never-in-doubt wrote: »

Mate Tesco search Experian and Equifax so if anything bad was there, they'd revert to Equifax and if this was good then cool - accepted

Sorry to elaborate, Tesco search Experian and if all is ok they will usually make an offer. Tesco only revert to Equifax if for any reason your Experian didn't match up to their exiting records (old app's maybe) or a material difference picked up via N Hunter/Cifas/Gain

If there is not enough data on Experian, they usually refer you and manually search Equifax.

This is what has happened to me and several others, processes do change so bear in mind they may search any of the two whenever they decide, that is the fun of open outsourcing.... they do use Experian first as Experian is linked to N Hunter obviously.

izools

Although now we have a bank that exclusively searches EQ - the first for a long time - Cyprus, their system doesn't allow be to enter my flat number - so when they do a search it brings up a null file.

Typical.

Miles30

never-in-doubt wrote: »

you can mae 6 app's in one month lol, doesn't matter mate!

Try em, if they say no then appeal

Gosh!! 6 app's in 1 month? you must be joking? lol. I thought CRAs say it is detrimental to your credit rating if you make more than 2 app's in 6 months?

never-in-doubt

Miles30 wrote: »

Gosh!! 6 app's in 1 month? you must be joking? lol. I thought CRAs say it is detrimental to your credit rating if you make more than 2 app's in 6 months?

Lol no mate 6 in 6 months or 13 per annum is the norm. Thus if you've got clean file for 6 months then you could apply for 5 or 6 accounts in a weekend - no probs.

Miles30

Innocent_Guy wrote: »

Thought it would like better if my o/d balance was reported as £0?

When did you pay off overdraft? If this month then maybe it will show up when your bank next updates CRAs. Like barclays often do, they may send updates say begining of january, but febrary's update may be towards the end.