The Sub Prime Credit Thread - Part IV

misscutiepie1984

i just cancelled capital one and vanquis

I have nationwide and sygma silver card

IN_DEBT_4EVA

never-in-doubt wrote: »

No mate - they do not. :mad: You've been had - lol.... don't listen to everything they say mate!

See above and i'll happily argue this til the cows come home, In_Debt_4eva works as a senior underwriter for sygma - oh, you wouldn't know this though would you? :rotfl::rotfl:

hello nids. message received :beer: no need to argue because you are right (again). :cool:

I am one of the underwriting managers for Sygma Bank UK who provide the financial backing to several companies and brands. The selection of cards we offer cannot be scored because you cannot score a product and expect a customer to fulfil the criteria necessary to qualify. We therefore score the customer to the card or finance product they apply for. The customer will either be accepted, declined or referred to one of my team for a manual assessment. If a customer applies for any card, they will be scored the same, thus resulting in one of those automated decisions.

Its a new age thing claims he was told the Flybe is scored differently to other branded cards we offer, I refute this claim entirely because we do not discuss our lending criteria with front line telephone operatives. Our acceptance criteria changes regularly and should an existing customer or applicant be unhappy with any automated decision they are invited to write and appeal. We dont accept verbal appeals because the underwriting team cannot handle the volume of calls.

If you call and apply over the phone for a new account you are scored as a person first and foremost after this we align you to your chosen product at which point we reserve the right to amend the principles of the product to suit you. I.E you could apply for Flybe which may typically suggest an APR of 9.9% and a typical minimum limit of £5,000 but when we scored you, this could have flagged that we would only be prepared to lend you £1,000 with an APR of 19.9% at which point the product criteria will be changed to merge to your customer profile. It is not the other way around.

NIDs is correct :beer:

IN_DEBT_4EVA

edinburgher wrote: »

When I go onto their website, however, it states that they won't accept anyone with negative credit history. Is this accurate?

Negative credit history means within a "period of time prior to application". You should maybe check with someone like nids who will confirm this for you, I am unable to answer specifics like this but I know nids is aware of the answer. :cool:

fairmorn308

I got declined for a RBS account last year and i just checked my file and they have been reporting like i had a account with them. When i got declined they said cause i had previous problems with them and i accepted that.

I called into my local branch who had a look about and said if i can provide a copy of my credit report and when i last had a account and reason for defualt then they will beable to let me use the accounts i applied for.

Why wasnt i explained this back at the time. really annoyed now. They said it was cause it was within 6 yrs but i told them its over 8yrs since i last banked with them.

Credit report printed and letter wrote so going to post it off to them now

ElkyElky

IN_DEBT_4EVA wrote: »

Negative credit history means within a "period of time prior to application". You should maybe check with someone like nids who will confirm this for you, I am unable to answer specifics like this but I know nids is aware of the answer. :cool:

Do Sygma have any plans to renovate that awful and disgusting website they call online banking? That's probably the worst thing about the company and certainly doesn't present a good image.

noah271007

fairmorn308 wrote: »

I got declined for a RBS account last year and i just checked my file and they have been reporting like i had a account with them. When i got declined they said cause i had previous problems with them and i accepted that.

I called into my local branch who had a look about and said if i can provide a copy of my credit report and when i last had a account and reason for defualt then they will beable to let me use the accounts i applied for.

Why wasnt i explained this back at the time. really annoyed now. They said it was cause it was within 6 yrs but i told them its over 8yrs since i last banked with them.

Credit report printed and letter wrote so going to post it off to them now

Did you previously defaulted with RBS? Funnily enough i just had a letter today from HSBC... (im working from home) saying the main reason why i was declined for HSBC credit card was because of my previous conduct with my student HSBC credit card (it was closed in 2005). I am confused by this reason because i have never missed any payments on the previous credit card account. Perhaps it is related to the managed loan?

I am writing an appeal letter and hopefully they can overide that in the system.

noah271007

ElkyElky wrote: »

Do Sygma have any plans to renovate that awful and disgusting website they call online banking? That's probably the worst thing about the company and certainly doesn't present a good image.

Apparently this has been mentioned in the forums somewhere that Sygma are planning to have a brand new online banking up and running by the summer....due to log in problems complaints from customers.

plumber2009

Will Argos accept subprime for their storecard?

ElkyElky

noah271007 wrote: »

Apparently this has been mentioned in the forums somewhere that Sygma are planning to have a brand new internet banking up and running by the summer....due to log in problems complaints from customers.

Hope so. It would be nice to be able to set up a direct debit, change limit and possibly even a secure message feature.

plumber2009

noah271007 wrote: »

Did you previously defaulted with RBS? Funnily enough i just had a letter today from HSBC... (im working from home) saying the main reason why i was declined for HSBC credit card was because of my previous conduct with my student HSBC credit card (it was closed in 2005). I am confused by this reason because i have never missed any payments on the previous credit card account. Perhaps it is related to the managed loan?

I am writing an appeal letter and hopefully they can overide that in the system.

It will be related to the managed loan. I have a managed loan with HSBC and therefore am not eligeble for any products from HSBC untill paid in full. They wont even give me a overdraft.