The Sub Prime Credit Thread - Part IV

BugsyBrowne

paulmcerlean wrote: »

Applied for a Topman store card through the website - declined instantly. Looked at Experian this morning and they did a search and it stated in the search a credit limit of £500 - can anyone explain this? I have never seen that in any of my previous searches for cards.

Anyhow, I am at odds to explain why it was declined. I dont have a huge history of credit - about 7 months of O2, 1 car finance with Santander with 3 months history (why I thought they would accept me, same bank) current account with Lloyds, (4 months history) and thats about it.

All of the above, green zeros, no defaults or adverse history of any kind.

Just opened an account with Very (£500 limit accepted online last week) but I cannot get a credit card of any kind. Declined by Aqua, Vanquis, Capital One and Barclaycard for their starter cards.

On Voters roll, great salary still no. number of searches are: 5 in 6 months Equifax and Experian, 2 in last 3 months, 12 in last 12 months, all from about Jan on.

Can anyone assist?

I am surprised with your history which is not looking to bad to get turned for down for the likes of aqua,vanquis,capital one...

paulmcerlean

star-fire wrote: »

I am surprised with your history which is not looking to bad to get turned for down for the likes of aqua,vanquis,capital one...

Yep, I cant work it out to be honest.

I know the history is limited but that is because I have always shy-ed away from credit, but now that I am looking to buy a home in the next few years I thought it would be a good idea to build a history.

Current account with Lloyds - no problem, approved with £1000 overdraft. Car finance approved with Santander no problem with a very good APR. Very account approved online. 02 contract for iphone approved online no problem.

But a credit card - no one wants to even consider me!!!


Aqua decline letter did state that their decision was not made because of any adverse data on my file whatever this means. All the rest talk about credit scoring being fair and mine not being at the min level, yet I am eligible for these cards having some history and wanting to build a credit profile.


The closest was this store card which actually showed a limit on my file - but still declined me.

Its-A-New-Age-Thing

Zack1 wrote: »

Haha quaity! I send the form back tomorrow £250 would be nice


Haha, can I have online access though? through their website? Like HSD? If I can I more likely to pick something if I see a bargain (few and far between.....). 35.9% is the best aqua offer!?!??!! WOW!! Oh and I'm kinda drunk.... i left laptop on before I wnt out, on MSE, so thought I'd reply

zack the online access for your aqua card is EXCELLENT i meamn i compare it to my sygma card online services and aquas in a far superior league, ull be pleasently surprised when u register

PARIS_5000

paulmcerlean wrote: »

Yep, I cant work it out to be honest.

I know the history is limited but that is because I have always shy-ed away from credit, but now that I am looking to buy a home in the next few years I thought it would be a good idea to build a history.

Current account with Lloyds - no problem, approved with £1000 overdraft. Car finance approved with Santander no problem with a very good APR. Very account approved online. 02 contract for iphone approved online no problem.

But a credit card - no one wants to even consider me!!!


Aqua decline letter did state that their decision was not made because of any adverse data on my file whatever this means. All the rest talk about credit scoring being fair and mine not being at the min level, yet I am eligible for these cards having some history and wanting to build a credit profile.


The closest was this store card which actually showed a limit on my file - but still declined me.

Aqua is for people with a poor or bad credit sounds like you have okay credit which is why they said no.

Try applying for a mainstream card such as Barclaycard

Its-A-New-Age-Thing

paulmcerlean wrote: »

Yep, I cant work it out to be honest.

I know the history is limited but that is because I have always shy-ed away from credit, but now that I am looking to buy a home in the next few years I thought it would be a good idea to build a history.

Current account with Lloyds - no problem, approved with £1000 overdraft. Car finance approved with Santander no problem with a very good APR. Very account approved online. 02 contract for iphone approved online no problem.

But a credit card - no one wants to even consider me!!!


Aqua decline letter did state that their decision was not made because of any adverse data on my file whatever this means. All the rest talk about credit scoring being fair and mine not being at the min level, yet I am eligible for these cards having some history and wanting to build a credit profile.


The closest was this store card which actually showed a limit on my file - but still declined me.

pickin up on the storecard showin u a limit and declining you, i applied for a remortgage bout 6 weeks ago now went through a broker aswell as my own methods when i checked one of the searches by the brokers contact it wassomethin like £50,000 over 48 months...........which i in NO way requested i was lookin at 15-20 year mortgages at the time for 60k...........but yeah i didnt get that whatsoever, it really confused me..........

paulmcerlean

PARIS_5000 wrote: »

Aqua is for people with a poor or bad credit sounds like you have okay credit which is why they said no.

Try applying for a mainstream card such as Barclaycard

I suppose, however as I stated in my post, I have applied for Barclaycard, Capital one, Aqua and Vanquis all without success.

Vanquis didnt even credit check me or bother writing to me! Just told me they'd be in touch. 5 months ago.

telecomengineer

paulmcerlean wrote: »

Applied for a Topman store card through the website - declined instantly. Looked at Experian this morning and they did a search and it stated in the search a credit limit of £500 - can anyone explain this? I have never seen that in any of my previous searches for cards.

Anyhow, I am at odds to explain why it was declined. I dont have a huge history of credit - about 7 months of O2, 1 car finance with Santander with 3 months history (why I thought they would accept me, same bank) current account with Lloyds, (4 months history) and thats about it.

All of the above, green zeros, no defaults or adverse history of any kind.

Just opened an account with Very (£500 limit accepted online last week) but I cannot get a credit card of any kind. Declined by Aqua, Vanquis, Capital One and Barclaycard for their starter cards.

On Voters roll, great salary still no. number of searches are: 5 in 6 months Equifax and Experian, 2 in last 3 months, 12 in last 12 months, all from about Jan on.

Can anyone assist?

I was in the same boat...last May I had no credit history whatsover...here is how I have built my credit profile up step by step (USING THE ADVICE OF THIS FORUM MAY I ADD)

1. checked my credit files...blank as no history (May 09)
2. registered to vote and got the files updated to show "added at address" (June 09)
3. opened a TMobile solo contract mobile phone
4. applied to capital one CC, vanquis & barclarcard..all declined (July 09)
5. opened an empire stores catalogue £250 limit (aug 09)
6. opened a Cashplus Credit Builder account for the green 0s
7. ran my newly opened Santander basic account well for 4 months (opened it may 09) then got it upgraded to a current account..this then started to report to my files (sept 09)
8. Closed my Tmobile account (settled) (dec 09)
9. Opened a New Vodafone contract (jan 09)
10. re-applied for a Capital One Classic (declined Jan 10)
11. re-applied Barclaycard Initial given £400 limit (Jan 10)
12. applied to sygma flybe (March 10) £2000 limit
13. closed Santander current account opened HSBC Advance (April 10)

In summary it has taken me just under 12 months to build a decent credit file from scratch

Zack1

Its-A-New-Age-Thing wrote: »

zack the online access for your aqua card is EXCELLENT i meamn i compare it to my sygma card online services and aquas in a far superior league, ull be pleasently surprised when u register

Ah good, I haven't got Sygma but if I do get this Aqua card through I won't be applying for them again, it's only Tesco I want now for the clubcard points, if I get this don't even need Vanquis - although the Diamond would be rather awesome just for the look of it! I love the look of my Cap1 card, but I'm thinking of closing it subject to this going through ok, £200 never increasing limit is an insult, even Natpest aren't that bad to me!

This is from the Aqua site though

Minimum Credit Limit N/A
Maximum Credit Limit Subject to status


So I could get less than £250 What are they like with limit increases anyway? And do they search you for them or are they done internally? And do you request or they just stick it up automatically?

Going to go post my CCA back in a minute, why can't they just take online CCA like Natpest and Cap1?!?!? Would have the card by now if they did!

BugsyBrowne

paulmcerlean wrote: »

Applied for a Topman store card through the website - declined instantly. Looked at Experian this morning and they did a search and it stated in the search a credit limit of £500 - can anyone explain this? I have never seen that in any of my previous searches for cards.

Anyhow, I am at odds to explain why it was declined. I dont have a huge history of credit - about 7 months of O2, 1 car finance with Santander with 3 months history (why I thought they would accept me, same bank) current account with Lloyds, (4 months history) and thats about it.

All of the above, green zeros, no defaults or adverse history of any kind.

Just opened an account with Very (£500 limit accepted online last week) but I cannot get a credit card of any kind. Declined by Aqua, Vanquis, Capital One and Barclaycard for their starter cards.

On Voters roll, great salary still no. number of searches are: 5 in 6 months Equifax and Experian, 2 in last 3 months, 12 in last 12 months, all from about Jan on.

Can anyone assist?

Mate why don't you give one of sygma's credit cards a try..

paulmcerlean

star-fire wrote: »

Mate why don't you give one of sygma's credit cards a try..

Flip forgot about adding them to the decline list back last month :j

No one wants to give me a card!