The Sub Prime Credit Thread - Part IV

brians_daughter

Zack1 wrote: »

Not too sure about the rest of it, but how much is the overdraft? Even if it's a student one, it hurts your credit score as it can be ordered to be repaid in full at any time, that's why I was trying not to use mine anymore (that's gone out the window recently though....). Even if credit card debt is bigger, lenders know you only have to pay back like 3% or whatever it is, so they base your affordability on that . With the overdraft if you were ordered to pay back 1k etc in X days, would you then keep up with your other payments...that's the problem they have unfortunately

Oh how interesteing re od hurting my score. My od is £2000 but i am in and out of it all the time. This month/early next month i will end up in it as i get my next student loan in April, plus i have had 3 weeks off work unpaid so will have to use it but, i can be out of it for months then in it again. Hum, may consider starting to reduce this over next few months. I just always thought it was good to have it there just in case kinda thing

izools

Gillianh2 wrote: »

Ooooooooooooooh thank you but I too am having a "apply happy day" roflol. Think I might step away from computer for a while. Roflol

Yes do! Because if you do it too much it'll have a bigger impact on your ability to get credit than a brand new default!

Limit yourself to one a month at most. I'd had five in the last six months and only just scraped acceptance for the silver card (fell into their worst APR bracket).

Who've you applied to? You probably only generating searches on Experian and not Equifax...

cdlmmll

Six searches on Equifac 6 active accounts inc 1 default dropping off April this year and Three searches on Experian, same active accounts and the one default.
Vanquis since last July limit £1250 and perfect 0's.
When could I look to apply for another card, barcleys prechecker says no to barclaycard.

Zack1

brians_daughter wrote: »

Oh how interesteing re od hurting my score. My od is £2000 but i am in and out of it all the time. This month/early next month i will end up in it as i get my next student loan in April, plus i have had 3 weeks off work unpaid so will have to use it but, i can be out of it for months then in it again. Hum, may consider starting to reduce this over next few months. I just always thought it was good to have it there just in case kinda thing

Yea I had mine with it all in a 5% savings account, but no the lenders hit you for it, quite massively I'd assume as I got outright rejection for quite a bit, whereas now I'm being referred.

The trick is to see if you are in it when it's update day . I know my update day is the 14th, but I don't know when the data is gathered to be sent, so when I get my next credit report I'm going to have a look (because the "current balance" is whatever amount of overdraft you are using when they get the data) and see if I can match current balance to a specific date on each statement, with any luck I'll have 2 or 3 occasions and be able to pin down a certain day to make sure I'm not in my overdraft

And yea I understand about the finance payments, mines April too if I get it, but if you are declined and decide to appeal you can add something to your appeal....maybe something like having to cover rent early but you were guaranteed SLC money and so knew you were going to be straight back over and above £0 when SLC paid.....and so despite being in the overdraft as your report shows, you were in a perfectly manageable financial situation all along...due to your brilliant financial awareness and budgeting of course Banks must really hate it when my appeal letters turn up :rotfl:

misscutiepie1984

omg it says application accepted for sygma - I have already had 3 rejections recently.

seeya23

misscutiepie1984 wrote: »

omg it says application accepted for sygma - I have already had 3 rejections recently.

well done what s your credit file like

misscutiepie1984

I was trying to prove a point that it was NOT accepting left right and centre .

Experian 623 Callcredit 527 Equifax 498

sutton111

misscutiepie1984 wrote: »

I was trying to prove a point that it was NOT accepting left right and centre .

Experian 623 Callcredit 527 Equifax 498

I wouldn't take any notice on those gimmicks. It's pointless.

So what do you have on your Equifax file? Any Defaults or CCJ's?

And congratulations on your weight loss.

misscutiepie1984

I have nothing on there.... according to them I owe nothing so there is no credit history, even though I have plenty of accounts that could be reported to equifax.

and I put some weight back on over christmas need to lose it again lol

sutton111

misscutiepie1984 wrote: »

I have nothing on there.... according to them I owe nothing so there is no credit history, even though I have plenty of accounts that could be reported to equifax.

and I put some weight back on over christmas need to lose it again lol

:rotfl::rotfl::rotfl:

Oh nevermind. I'm sure you'll lose it again.