The Sub Prime Credit Thread - Part IV

Zack1

Natpest and generous in the same sentence......LOOOOOOOOOL!!

Seriously though, good luck, hope you do get pre-approved overdraft etc, I don’t know if it’s just me but they don’t want to pre-approve anything for me! :mad:

They won't even up my credit limit (£350 for some strange reason, max they give students is £500), but as it's been 6 months I might ask for a higher limit again and see where that gets me!

lordash

Zack1 wrote: »

Natpest and generous in the same sentence......LOOOOOOOOOL!!

Seriously though, good luck, hope you do get pre-approved overdraft etc, I don’t know if it’s just me but they don’t want to pre-approve anything for me! :mad:

They won't even up my credit limit (£350 for some strange reason, max they give students is £500), but as it's been 6 months I might ask for a higher limit again and see where that gets me!

I used to have an account with Natwest a while back (opened it when I was 16). When I was 18 they preapproved me for a £100 overdraft, which then rose to £300, £650, £1300, £2600 and finally £3800 all in the space of one year. I also had a student account with them as well, which had a £1250 limit. Cut a long story short, I ended up maxing it out like a fool and that gave rise to all the defaults etc. (makes it even more suprising that they are the only bank that want to give me a full account).

Their credit card was a different story. Got accepted for one on my 18th with a £250 limit and despite numerous phonecalls they wouldn't budge on the limit until finally, almost a year after they opened the account, they gave me an increase to.... wait for it.... £300!

So they gave a 19 year old a £5k total overdraft, but they wouldn't put their credit card limit above £300. Madness!

To be fair though, I think the only reason I got that account is that I somehow slipped through the net and they haven't realised that I am the same person who defaulted owing £5k of their money and am treating me as a new customer. So, their stupidity can have some positive results (until AVU find out what's going on and shut down all my accounts).

Hopefully, all of that will remain in the past now and can try to get myself back on the internal score ladder .

plumber2009

one word for natwest.

INCOMPETENCE.

TastyTeeth

plumber2009 wrote: »

one word for natwest.

INCOMPETENCE.

Couldn't agree more. :mad:

Zack1

lordash wrote: »

I used to have an account with Natwest a while back (opened it when I was 16). When I was 18 they preapproved me for a £100 overdraft, which then rose to £300, £650, £1300, £2600 and finally £3800 all in the space of one year. I also had a student account with them as well, which had a £1250 limit. Cut a long story short, I ended up maxing it out like a fool and that gave rise to all the defaults etc. (makes it even more suprising that they are the only bank that want to give me a full account).

Their credit card was a different story. Got accepted for one on my 18th with a £250 limit and despite numerous phonecalls they wouldn't budge on the limit until finally, almost a year after they opened the account, they gave me an increase to.... wait for it.... £300!

So they gave a 19 year old a £5k total overdraft, but they wouldn't put their credit card limit above £300. Madness!

To be fair though, I think the only reason I got that account is that I somehow slipped through the net and they haven't realised that I am the same person who defaulted owing £5k of their money and am treating me as a new customer. So, their stupidity can have some positive results (until AVU find out what's going on and shut down all my accounts).

Hopefully, all of that will remain in the past now and can try to get myself back on the internal score ladder .

Out of interest how old are you now? You say "when you were 19" so I'm guessing it was a few years ago? Sadly lending attitudes were very different then. I'd probably have 3 or 4 times the credit I've got had I been a few years older!

And also if the default was 6+ years ago would it matter? I know CRAs are supposed to get rid of info after 6 years, does that apply to the actual company? If it does then you are basically a brand new person now (if it has been 6 years).... otherwise it seems very strange you've got through AVU!!

And yea the credit limit is really strange. They are happy to up my overdraft to £1,250, so it can't be anything negative on my file stopping me getting £150 credit limit increase! I think those lot have done their maths wrong.... £1,250 (and more as I'll keep having it increased) INTEREST FREE overdraft that I keep hold of and don't pay back for 3+ years (and even then it's only as and when I feel like it!) or £150 extra credit limit that I have to pay back in full every month otherwise I get charged 18% APR... hmmmmmm....... I think if they're going to give one and not the other they've done it the wrong way around! Plus they get merchant fees when I use my credit card - me having an overdraft probably costs them money because I never use my Maestro card so they don't get fees from that!

plumber2009 wrote: »

one word for natwest.

INCOMPETENCE.

:rotfl: So true!

fairmorn308

good evening all

telecomengineer

Hi Guys

Having followed the advice of this site, I have managed to build a credit rating from scratch in just under 9 months

I would like some advice regarding settling accounts or leaving them open

I currently have the following accounts open and reporting to the CRAs

empire stores (mail order catalogue)
£250 limit - 8 months of green 0s, £40 balance

Cashbuilder Loan - 8 months of green 0s

Citibank Current Account (no overdraft) 8 months of green 0s

Santander Current Account (no overdraft) 6 months of green 0s

Vodafone Mobile Contract - 4 months of green 0s

Barclaycard Initial £400 limit 3 months of green 0s

Sygma Flybe £2000 limit

recently opened HSBC advance current account


Now that I have got some credit cards and a full account with HSBC is it worth closing the catalogue account and the santander current account so that I have some settled accounts on file or would it be better to leave them open for the green 0s?

BugsyBrowne

Close them pair down mate although lenders like you to be with your bank a fair while,and after reading a couple of martin lewis's tips he said lenders also like to see settled accounts..

fairmorn308

very quiet in here tonight

plumber2009

telecomengineer wrote: »

Hi Guys

Having followed the advice of this site, I have managed to build a credit rating from scratch in just under 9 months

I would like some advice regarding settling accounts or leaving them open

I currently have the following accounts open and reporting to the CRAs

empire stores (mail order catalogue)
£250 limit - 8 months of green 0s, £40 balance

Cashbuilder Loan - 8 months of green 0s

Citibank Current Account (no overdraft) 8 months of green 0s

Santander Current Account (no overdraft) 6 months of green 0s

Vodafone Mobile Contract - 4 months of green 0s

Barclaycard Initial £400 limit 3 months of green 0s

Sygma Flybe £2000 limit

recently opened HSBC advance current account


Now that I have got some credit cards and a full account with HSBC is it worth closing the catalogue account and the santander current account so that I have some settled accounts on file or would it be better to leave them open for the green 0s?

Drop the cashbuilder and santander bank account.:)

HSBC advance is an excellent account. Use this account and you will build a good internal score with HSBC. Pay ur wages in and try not go get cash advances and you will build an excellent score in no time.