The Sub Prime Credit Thread - Part IV

TheEffect

Noah, how many searches have you got on your file?

noah271007

I had three searches on my experian credit file in the past 7 months before HSBC credit card application today....

Oct 2009 HSBC O/D (declined), Jan 2010 (tesco accepted), March 2010 (flybe accepted) before today application.

Now i have four.

HTH mate

Innocent_Guy

noah271007 wrote: »

Hey, today at lunchtime, i went to HSBC branch to reapply for credit card application again (i was advised this is the only way)....it was like a grilling interview checking for each credits applied into my account e.g salary, tax credits/child benefits and the outgoings like council tax, rent etc. I found it quite off putting as the customer advisor seems to be scrutinising every detail with my account.

This went on for 10 mins and then she asked me how much credit limit do i want? I told her that usually if application is successful will determine what credit limit i can get. She said no, the limit i want will take into account in the credit scoring and can have an impact .... (is this true or its basically bulls*it?

So i told her (on the safe side) £500 CL...the minimum limit available.

Next thing i know i was accepted instantly and signed paperwork and said card will be with me 5-7 working days.

So yes i finally got the card!! However im starting to regret choosing lousy limit so what shall i do?

Noah,

I had exactly the same thing! They score you for the card, if approved they enter the required credit limit, if this is within the "maximum limit" the system has allow (this is not shown to the operator) it is approved, if not the application is referred.

Keep the £500 CL and request an increase in a few months :-)

Innocent_Guy

TheEffect wrote: »

Noah, how many searches have you got on your file?

I had loads when mine was accepted

noah271007

I just been on internet banking and there is my credit card account next to my account already set up with the card number! Neat! Thought it would take a few days to show up, but its there instantly!

noah271007

Innocent_Guy wrote: »

Noah,

I had exactly the same thing! They score you for the card, if approved they enter the required credit limit, if this is within the "maximum limit" the system has allow (this is not shown to the operator) it is approved, if not the application is referred.

Keep the £500 CL and request an increase in a few months :-)

Interesting you say that. Did you get the first £500 CL and then after few months increased to £1k?

I played it safely i think in order to maximise the application being accepted.

BugsyBrowne

noah271007 wrote: »

Hey, today at lunchtime, i went to HSBC branch to reapply for credit card application again (i was advised this is the only way)....it was like a grilling interview checking for each credits applied into my account e.g salary, tax credits/child benefits and the outgoings like council tax, rent etc. I found it quite off putting as the customer advisor seems to be scrutinising every detail with my account.

This went on for 10 mins and then she asked me how much credit limit do i want? I told her that usually if application is successful will determine what credit limit i can get. She said no, the limit i want will take into account in the credit scoring and can have an impact .... (is this true or its basically bulls*it?

So i told her (on the safe side) £500 CL...the minimum limit available.

Next thing i know i was accepted instantly and signed paperwork and said card will be with me 5-7 working days.

So yes i finally got the card!! However im starting to regret choosing lousy limit so what shall i do?

noah all that for a lousy £500 credit limit,should of asked for alot more than that after all what you have dont to get the card old mate..

noah271007

I should have asked for a higher CL...thats true but i got Tesco for £4K CL....so i don't want to risk getting the application being referred....after all the sh*t i been through. At least it will eventually be increased in no time.

I'm just delighted to get the HSBC credit card. It is not easy to get a HSBC credit card.

Innocent_Guy

noah271007 wrote: »

Interesting you say that. Did you get the first £500 CL and then after few months increased to £1k?

I played it safely i think in order to maximise the application being accepted.

NO I asked for 1k and thought this was on the safe side? Once again was gonna ask for 5k but thought it would refer lol

noah271007

Maybe i was a bit too cautious.... oh well, too late.