The Sub Prime Credit Thread - Part IV

Innocent_Guy

never-in-doubt wrote: »

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:

Do you not think affordability will look better if I am using a lower percentage of credit?

Innocent_Guy

Miles30 wrote: »

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.

Was last updated 20/1 so is due to be updated anytime now..... I am thinking it may be done overnight tonight as part of experians Sunday night update.

Miles30

never-in-doubt wrote: »

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.

This info is from my Equifax credit rating:

[URL="javascript:expandContract('search');"]About Searches[/URL]
Excellent
You have had 0 search(es) for credit in the last six months. Credit grantors view more than one or two searches within six months unfavourably. Please review the section of your credit report entitled Previous Searches .


This info is from my Experian Credit score:
Factors that are having a positive effect on your score

• You make all your repayments on time and in full - no accounts have been paid late in the past six months
• You are on the electoral roll (registered to vote) at your current address
• You have made two or fewer applications for credit in the last six months
• The outstanding balance on your credit accounts (excluding your mortgage) is low
• You don't have any county court judgments and you have not been declared bankrupt in the last six years

Is there anything the CRAs aint telling me? Lol. I might go on application spree :rotfl::rotfl::rotfl:

never-in-doubt

Mate thats junk, 13 per annum or 6 in 6 months is fine. Yea, in an ideal world we'd all make one application every 10 years - but not viable is it? The CRA's tell you things how they'd be in an ideal world - not reality.

Remember these same CRA's still tell us the lender only adds data and they have no say in it - really? Is that right CRA's...? lol - they make me laugh, really they do!

Innocent_Guy

never-in-doubt wrote: »

Mate thats junk, 13 per annum or 6 in 6 months is fine. Yea, in an ideal world we'd all make one application every 10 years - but not viable is it? The CRA's tell you things how they'd be in an ideal world - not reality.

Remember these same CRA's still tell us the lender only adds data and they have no say in it - really? Is that right CRA's...? lol - they make me laugh, really they do!

I read that lenders are allowing more and more searches as we are all making more applications than ever.

never-in-doubt

Innocent_Guy wrote: »

I read that lenders are allowing more and more searches as we are all making more applications than ever.

Exactly mate - but it has always been one per month or 12 a year, I always say 13 a year cos you can always argue that 13th application if needs be lol

But definitely, previous searches are not as bad now as they used to be, some lenders ignore searches and go on recent accounts opened, such as MBNA - if they see 100 searches and 1 new account they will decline cos of the new account, not the searches! Kinda mad but eahc does have its own criteria and MBNA dont like to see lots of accounts, they prefer a few bigger ones...

Miles30

never-in-doubt wrote: »

Mate thats junk, 13 per annum or 6 in 6 months is fine. Yea, in an ideal world we'd all make one application every 10 years - but not viable is it? The CRA's tell you things how they'd be in an ideal world - not reality.

Remember these same CRA's still tell us the lender only adds data and they have no say in it - really? Is that right CRA's...? lol - they make me laugh, really they do!

Thanks mate . but how does the 13 per annum or 6 in 6 months come about? So you sure 3 app's in 1 week wont hurt me bad? lol

Innocent_Guy wrote: »

I read that lenders are allowing more and more searches as we are all making more applications than ever.

Maybe credit crunch? lol Everyone needs credit yet we are getting turned down more.

fairmorn308

Innocent_Guy wrote: »

Afternoon! How are you?

fine thank you

happy as managed to pay ofr 3 of my credit cards this week. so there all with zero balance and now got the biggie left my flybe 4k balance but wont take long to clear, 8 weeks tho

never-in-doubt

Miles30 wrote: »

Thanks mate . but how does the 13 per annum or 6 in 6 months come about? So you sure 3 app's in 1 week wont hurt me bad? lol

Answered here mate: #3120

But obviously 1 search is better than 3 in a week lol - i'm saying if thats all youve applied for then you'll be ok..... if you have 12 already then forget it...

Miles30

never-in-doubt wrote: »

Exactly mate - but it has always been one per month or 12 a year, I always say 13 a year cos you can always argue that 13th application if needs be lol

But definitely, previous searches are not as bad now as they used to be, some lenders ignore searches and go on recent accounts opened, such as MBNA - if they see 100 searches and 1 new account they will decline cos of the new account, not the searches! Kinda mad but eahc does have its own criteria and MBNA dont like to see lots of accounts, they prefer a few bigger ones...

Cheers for info:). Didn't see this one before sending other post.
How old should the account be to be classed as new? Thanks