The Sub Prime Credit Thread - Part IV

sol198

ElkyElky wrote: »

It's always good to hear someones story of how they were able to climb back up on that credit ladder.

The most important thing you need to do now is stay on that credit ladder and don't fall off again.

Continue focusing on building up your credit history with the Tesco and Flybe card before you chance your luck with a mortgage. You could perhaps save up a deposit in the mean time.

You've worked hard over the last 6 years so don't spoil it. Be responsible and only spend within your means.

Oh I certainly have learned my lesson. A 6000 pounds, loads of shifts in tesco and 6 years later lesson:(

On a positive note, it looks like times have changed since the era when i did most damage, for example i had a 1250 limit from a halifax credit card while making 70 pounds a week :eek: it turns out it wasnt free money like i thought it was. It was easy not to care then i guess but hopefully 18 year olds are better equipped to understand the consequences of credit. It does have to be paid back no matter how much the banks seduce you with their offerings.

The student days also helped me as I was living off 40 quid per week disposable income. It was probaly the best lesson I taught myself as I still managed to take in a footy match once a fortnight

Quick Q=
If i shut down my vanquis card will it be taken off my report? I would really like to keep all the green 0's if truth be told

cheers sol

never-in-doubt

sol198 wrote: »

Quick Q=
If i shut down my vanquis card will it be taken off my report? I would really like to keep all the green 0's if truth be told

cheers sol

The account status would change to which means settled. Basically the green [0]'s remain for around 6 years (even when closed) but the fact its a live account helps. I'd leave it open for now and in a year or so when you're more mainstream then you can close it and it will 'stop reporting' which shows you've paid it off and closed it down, i.e. perfect account handling which proves you're good with credit. Banks like to see this.

Well done by the way - good on you :T

TheEffect

never-in-doubt wrote: »

Does your wages get paid in still? If so, do it mate. You're prime target right now - if your BH score fails (i.e. less than 60) then all they do is use the shortfall with CRA CAIS feed data so you'll probably get accepted, i'd say definitely under appeal.

Do it mate - you'll get a pleasant surprise...

Moreso for the 15 months 0% BT deals..... you can move all your silly cards over to the new HSBC one and pay it off over time....

Just before I switched to First Direct, my internal behavior score with HSBC was 70 and I applied for the credit card. I was declined, the only reason being that I had a high number of searches.

never-in-doubt

TheEffect wrote: »

Just before I switched to First Direct, my internal behavior score with HSBC was 70 and I applied for the credit card. I was declined, the only reason being that I had a high number of searches.

But had you not had adverse then they'd have accepted you.....




* Adverse in the sense of lots of searches - they'd have known this from the CAIS data feed at the last update (i.e. the first Monday on the month before your application)....

Innocent_Guy

never-in-doubt wrote: »

Does your wages get paid in still? If so, do it mate. You're prime target right now - if your BH score fails (i.e. less than 60) then all they do is use the shortfall with CRA CAIS feed data so you'll probably get accepted, i'd say definitely under appeal.

Do it mate - you'll get a pleasant surprise...

Moreso for the 15 months 0% BT deals..... you can move all your silly cards over to the new HSBC one and pay it off over time....

Salary been paid in for the last 2 months.
I have had the account for about 5 years and moved my salary to Barclays for about 1 year.

Callcredit still have the incorrect link with default showing so BS possibly being effected by CAIS?

never-in-doubt

Innocent_Guy wrote: »

Salary been paid in for the last 2 months.
I have had the account for about 5 years and moved my salary to Barclays for about 1 year.

Callcredit still have the incorrect link with default showing so BS possibly being effected by CAIS?

Mate you should be ok, you can appeal it remember......

ElkyElky

I spent the last 20 minutes switching some of my direct debits and standing orders to HSBC.

I made a test payment from HSBC to NatWest and it still hasn't arrived yet so that may have been lost in oblivion. I hate switching bank accounts. :mad:

TheEffect

Anyone want to take a picture and post it of there HSBC Advance card?

never-in-doubt

TheEffect wrote: »

Anyone want to take a picture and post it of there HSBC Advance card?

Its that orange looking thingy isnt it?

I still have the plus one and the silver advance one (before advance became bank account and plus became advance lol) phew!

edinburgher

Just restarted my CreditExpert subscription. Surprise, surprise, Blair, Oliver and Scott haven't marked my credit card account as 'satisfied'. If there hasn't been any change by the end of next week I'll start bugging them to do so.

Noticed a couple of searches against my name after a few moments of madness earlier on in the week (Vanquis and Cap One applications). What I didn't notice, however, was any search from 3 when I applied for my Sim Zero contract (the sim for which arrived this morning). The chap I spoke to from 3 said that they credit check people for Sim Zero, but it seems odd that this wouldn't show up on my credit report?