The Sub Prime Credit Thread - Part IV

Zack1

CHALLISAVENUE wrote: »

I see,thanks Zack. They seem to do instant approvals at any time day or night judging by what other posters have put on here,so we will see.

What do you think about the data thing with the fact that Experian put 8yrs 8 months under the search when i know that i definitely put 8 months!!!!!!,strange or what.

Is a referal better than a straight decline do you think?????


Kelly

I know one card was talked about offering approval at stupid o'clock, but most of them only will in office hours - if at all.

Maybe contact the lender to clarify, you may have pressed a button by accident which led to a different option being selected. You don't want to get flagged up as lying even if it was an accident, as that will harm you even more. If you put 8 months shouldn't it have asked you for your other addresses for the last 2/3 years? That's what most seem to do

It's better in that you still have a chance yes, and a human will consider you, but they can still write to you saying that they've decided to decline you. It's just another chance to get it really

CHALLISAVENUE

Zack1 wrote: »

I know one card was talked about offering approval at stupid o'clock, but most of them only will in office hours - if at all.

Maybe contact the lender to clarify, you may have pressed a button by accident which led to a different option being selected. You don't want to get flagged up as lying even if it was an accident, as that will harm you even more. If you put 8 months shouldn't it have asked you for your other addresses for the last 2/3 years? That's what most seem to do

It's better in that you still have a chance yes, and a human will consider you, but they can still write to you saying that they've decided to decline you. It's just another chance to get it really

Yes it did ask automatically for the previous address which i filled in.

At least it wasnt a straight decline which is a positive thing dont you think ????

I also have a £8k overdraft with the Halifax, large i know but had it for three years now,no problems as the throughput of my wages and other stuff is good,so with aqua card being underwritten by Halifax/Bank Of Scotland i would imagine that i have a pretty good chance of being accepted,perhaps thats why it didnt decline it automatically as maybe they could see i was an existing Halifax customer already. What do you think?????????????

Kelly

seeya23

well i ve paid off my vanquis bill off today all £482 for the first time in 9 months :j
now im going to pay in full each month from now on

ElkyElky

CHALLISAVENUE wrote: »

Yes it did ask automatically for the previous address which i filled in.

At least it wasnt a straight decline which is a positive thing dont you think ????

I also have a £8k overdraft with the Halifax, large i know but had it for three years now,no problems as the throughput of my wages and other stuff is good,so with aqua card being underwritten by Halifax/Bank Of Scotland i would imagine that i have a pretty good chance of being accepted,perhaps thats why it didnt decline it automatically as maybe they could see i was an existing Halifax customer already. What do you think?????????????

Kelly

I'd strongly advise you to ditch the overdraft completely. Having an 8k overdraft on your credit report will make lenders think twice about giving you a nice credit limit. If you use it constantly, lenders may consider you to be over-committed and could refuse you credit.

However nice it may seem having that sort of money at your disposal, it could very easily get you in to trouble. Even if you don't use it, there are more downsides to having it on your credit report than keeping it.

Perhaps you could reduce it to £500? An 8k overdraft is just madness and is asking to be abused.

CHALLISAVENUE

ElkyElky wrote: »

I'd strongly advise you to ditch the overdraft completely. Having an 8k overdraft on your credit report will make lenders think twice about giving you a nice credit limit. If you use it constantly, lenders may consider you to be over-committed and could refuse you credit.

However nice it may seem having that sort of money at your disposal, it could very easily get you in to trouble. Even if you don't use it, there are more downsides to having it on your credit report than keeping it.

Perhaps you could reduce it to £500? An 8k overdraft is just madness and is asking to be abused.

Thanks for your comments,however i am not likely to abuse it as it is paid down every month,in fact its not used most months,but when it is it gets cleared what with my salary and other sources of income coming into that account.I see your point about what other lenders might think about this but my credit file is all green "0"'s,i might also add that their is no way for me to reduce it online as when i try it states i have a 0 guaranteed overdraft on this particular account, yet on my URCA i have an overdraft of 4k and available of 12k should i need it,which i have no need for.

What do you think about the fact that Experian have recorded the search as 8yrs 8 months at the current address when thats plainly NOT accurate and isnt what i put in the application(should be 8 months)!!!!!!

And also your opinions on why do you think i didnt get a straight decline,like previous occasions,what do you think as you seem to be very knowledgable about these things? Has it been referred or something,is this a good or bad thing???

What do you think?

Kelly

Zack1

ElkyElky wrote: »

I'd strongly advise you to ditch the overdraft completely. Having an 8k overdraft on your credit report will make lenders think twice about giving you a nice credit limit. If you use it constantly, lenders may consider you to be over-committed and could refuse you credit.

However nice it may seem having that sort of money at your disposal, it could very easily get you in to trouble. Even if you don't use it, there are more downsides to having it on your credit report than keeping it.

Perhaps you could reduce it to £500? An 8k overdraft is just madness and is asking to be abused.

The limit for my overdraft doesn't show up on my reports, only how much of it I've used on a certain day - is that not the case for all of them? I'd say it's best to keep the limit but not use it, just incase, if the limit isn't shown on the credit report, as it won't be taken into account regarding available credit calculations. Agree with what you say about not using it and appearing to be over-committed etc. When I eventually get a decent salary I won't use mine either, but at the moment 1k is like 20% extra for me to play with, which is a lot to just not use - and it's interest free from Natpest

Oh and just generally does anyone know if it would be ok to phone the AA's international number? I phoned it and it gave some rubbish about being for international callers only etc, but the clowns have locked me out of my account and want me to call some 0845 number from my mobile to get back in :mad:

whisp

Zack1 wrote: »

The limit for my overdraft doesn't show up on my reports, only how much of it I've used on a certain day - is that not the case for all of them?

There's a thread somewhere on the forums about this, I replied to it the other day. My Barclays overdraft has both the agreed overdraft limit and current overdraft balance on both my Equifax and Experian credit reports - when my account is in credit, balance shows as £0, but limit still there.

From what you and others have said, it seems to vary from bank to bank (and maybe also depend on your account type?), some of us have our limits and balance reported, others just the limit, and some others nothing at all!

Can't answer your AA question, sorry, hopefully someone else might have an idea!

Zack1

whisp wrote: »

There's a thread somewhere on the forums about this, I replied to it the other day. My Barclays overdraft has both the agreed overdraft limit and current overdraft balance on both my Equifax and Experian credit reports - when my account is in credit, balance shows as £0, but limit still there.

From what you and others have said, it seems to vary from bank to bank (and maybe also depend on your account type?), some of us have our limits and balance reported, others just the limit, and some others nothing at all!

Can't answer your AA question, sorry, hopefully someone else might have an idea!

Ah thanks that's interesting. I know not to go for an overdraft with Barclays then! :rotfl:. Technically they should surely all show up, as they're a form of credit, so ones that don't show up the limit are a bonus

Yea you're right it must vary. It must be the bank rather than account type (my overdraft is with Natwest) because my account seems exactly the same as a normal current account, they just shoved 'Student/Graduate' infront of it I'm not sure if it's the account type, because mines just a normal account - it's only the credit card where they seem to treat Student customers differently

CHALLISAVENUE

Zack1 wrote: »

The limit for my overdraft doesn't show up on my reports, only how much of it I've used on a certain day - is that not the case for all of them? I'd say it's best to keep the limit but not use it, just incase, if the limit isn't shown on the credit report, as it won't be taken into account regarding available credit calculations. Agree with what you say about not using it and appearing to be over-committed etc. When I eventually get a decent salary I won't use mine either, but at the moment 1k is like 20% extra for me to play with, which is a lot to just not use - and it's interest free from Natpest

Oh and just generally does anyone know if it would be ok to phone the AA's international number? I phoned it and it gave some rubbish about being for international callers only etc, but the clowns have locked me out of my account and want me to call some 0845 number from my mobile to get back in :mad:

Halifax accounts show on Experian,Equifax and Call Credit as,in my case, 8k overdraft against the one account,4k on the other, and if i happen to have been in overdraft during the period this will be reflected on the credit reports, so say i had used 4k of my 8k overdraft and hadnt cleared it down in time for the next feed to the agencies,it would show as overdraft:£8,000 and Overdraft balance £4,000.

Dont know about any other banks though.


Kelly

CHALLISAVENUE

Zack1 wrote: »

atpest

Oh and just generally does anyone know if it would be ok to phone the AA's international number? I phoned it and it gave some rubbish about being for international callers only etc, but the clowns have locked me out of my account and want me to call some 0845 number from my mobile to get back in :mad:

I see no problem why not Zack;) i use the Bank of Cyprus international number all the time and have no problems,the same applies to Halifax,use the 0113 380 9574 number which bypasses teh 0845/0870 numbers they use,essentially all calls go to the same centre,in Halifax's case either Leeds,occasionally Trinity Road and sometimes Belfast.

Give it a try....i doubt you will find any problems unless of course they have their telephony systems set up to recognise the fact you are dialling from within the uk,and yes some banks do have this,even if you try and block your number by 1471 and dial in on the international number the system will recognise this and not allow you through.....technology today:eek::eek::eek::eek:

Kelly