The Sub Prime Credit Thread - Part IV

ElkyElky

I think the £100 thing is just to activate the account. I had to deposit that too, but the banker said I could withdraw it immediately, so seconds after I deposited it, I withdrew it.

wizzywig27

cifpower wrote: »

I didn't get a CGC but I still had to deposit £100. I did get a chequebook though. Does it matter to you if you get a CGC?

Nope not in the slightest, just wondering why I had to deposit £100 thats all

lincs1205

Hi Everyone, just looking for a bit of advice, bit of background history i have a default on my credit file from egg marked satisfied from april 08, i then applied for a vanquis card which i got accepted for and kept that for a year, i also had a capital 1 card which i had, had since 2002, i have now finished paying all my cards off and now have my natwest overdraft and my car finance agreement with black horse. What i would like to ask is how long should i leave it until i apply for another credit card purely for the purpose of rebuilding my credit rating, i have also opened a current account with norwich and peterborough but i still have my current account with natwest while i am paying my overdraft off. They want me to go in, in the new year to review my account. Any advice would be gratefully received. Thanks for reading.

never-in-doubt

lincs1205 wrote: »

Hi Everyone, just looking for a bit of advice, bit of background history i have a default on my credit file from egg marked satisfied from april 08, i then applied for a vanquis card which i got accepted for and kept that for a year, i also had a capital 1 card which i had, had since 2002, i have now finished paying all my cards off and now have my natwest overdraft and my car finance agreement with black horse. What i would like to ask is how long should i leave it until i apply for another credit card purely for the purpose of rebuilding my credit rating, i have also opened a current account with norwich and peterborough but i still have my current account with natwest while i am paying my overdraft off. They want me to go in, in the new year to review my account. Any advice would be gratefully received. Thanks for reading.

You can apply for anything but the settled default may go against you, otherwise it will be 6 years before that goes (6 years of default date - not settled date)

never-in-doubt

cifpower wrote: »

The reason they ask you to deposit £100 is because your cheque guarantee limit is £100

Lol, no it isn't mate! The £100 is the account opening fee - nothing more, nothing less. The minute you pay it in it generates the release of the card and chequebook etc.... until you fund the account they will not release the card/book.

Most say £1 to open the account, HBOS say £100. It has nothing to do with the card limit mate.

You can spend it, within 10 minutes of paying it in - you have to pay it in though to get the account 'activated'

never-in-doubt

ElkyElky wrote: »

I think the £100 thing is just to activate the account. I had to deposit that too, but the banker said I could withdraw it immediately, so seconds after I deposited it, I withdrew it.

Correct mate - spot on. The £100 is an activation process, usually you can pay it in and right back out again!

duggie1982

Heres a question for yea NID if you dont mind!

Linked address', do they stay there forever or come off in time if not used of course.

never-in-doubt

duggie1982 wrote: »

Heres a question for yea NID if you dont mind!

Linked address', do they stay there forever or come off in time if not used of course.

I made a thread about this mate - can't seem to find it.

The answer though is they stay for as long as the link remains. Need me to elaborate?

never-in-doubt

never-in-doubt wrote: »

The answer though is they stay for as long as the link remains. Need me to elaborate?

Here you go mate - just in case! Taken from: Credit Reference Agencies

Linked Addresses:
Lots of rumours about linked addresses keep flying around the forum, the truth of the matter is that there is no clear guidance for the period of retaining a linked address although 8 years seems to be the 'norm'.

The ICO stipulate that "A linked address may stay on your credit file as long as this information is relevant for credit referencing purposes." However, this was changed recently because it used to say "A linked address may be created when an account moves between addresses, such as when you move house, or when a lender checks your records at your previous address, or if you tell a credit reference agency about a previous or forwarding address. A linked address may stay on your credit file for 6 years after the link has been created."

So, to sum up, a linked address will be created when an account moves between addresses (such as when you move house); when a lender checks your records at your previous address or if you tell a CRA about a previous or forwarding address.

How long does the data remain?
The link will remain for a period of 6 years but no longer than 8 years. Each specific case is looked at by the CRA's between the 6 - 8 year period.

CocoPopsLover

never-in-doubt wrote: »

Here you go mate - just in case! Taken from: Credit Reference Agencies

Thats good, I have 38 linked addresses, they need to come off soon!