The Sub Prime Credit Thread - Part IV

never-in-doubt

Parki wrote: »

Well I have my Bank of Scotland CC, Barclays Current Account and im still waiting for Yorkshire Bank to get back to me. I was thinking Nationwide ? Not much other choice for Experian only as I may have possibly burnt my bridges with Egg and Mbna.

You any idea how MBNA are likely to treat a new application from me? I was on a dmp plan with them paying a set amount but I have full Green o's on them from my credit file. It worth a go?

try it mate - they can only say no can't they :eek:

Mrs_Ryan

So proud of meself - third Voda bill - £29! (25 of that line rental, VAT etc) First Voda bill - £17 Second - well, lets not go there shall we :rotfl: However it was still better than the Voda contract I defaulted on first bill 3 years ago :eek: bill was £174!!! :eek: Im getting better with credit now.... thanks to everyone on here! :beer:

Innocent_Guy

No one has posted for 2 days!!! WOW, whats going on lol

Innocent_Guy

Guys/Girls,

I am looking to increase my HSBC overdraft, not because I require it but I would like to have a reasonable overdraft should I need it.

Questions are as follows:

Should I apply in branch or online?
Should I wait until I have been paid and the new internal behaviour score is published?
I have just got the HSBC credit card and my Sygma so I have two new accounts showing on my credit file do you think I should wait a while?

noah271007

Innocent_Guy wrote: »

Guys/Girls,

I am looking to increase my HSBC overdraft, not because I require it but I would like to have a reasonable overdraft should I need it.

Questions are as follows:

Should I apply in branch or online?
Should I wait until I have been paid and the new internal behaviour score is published?
I have just got the HSBC credit card and my Sygma so I have two new accounts showing on my credit file do you think I should wait a while?

Hi mate.
If i were you, i would wait 4-6 months before you ask for an increase on your HSBC overdraft. You just opened your HSBC account right?
About your Sygma account now showing on your credit file, it would mean you have more credit available...especially the £5K!!

I don't know if that will have an impact on you getting the overdraft increase or not, but i would strongly advise you to wait for 4-6 months. Applying in branch or online is fine, as both will be determined immediately unlike applying for a credit card.

Innocent_Guy

noah271007 wrote: »

Hi mate.
If i were you, i would wait 4-6 months before you ask for an increase on your HSBC overdraft. You just opened your HSBC account right?
About your Sygma account now showing on your credit file, it would mean you have more credit available...especially the £5K!!

I don't know if that will have an impact on you getting the overdraft increase or not, but i would strongly advise you to wait for 4-6 months. Applying in branch or online is fine, as both will be determined immediately unlike applying for a credit card.

Hi Noah,

Hows you mate?

I have had my HSBC account for a few years but I have just opened a credit card with them.

I will hold fire for a while then, TBH I do not need the O/D but would like to know its there :-)

never-in-doubt

HSBC will increase an overdraft every 6 months or you'll have to pay a fee - so if it was 6+ months since the last request it will usually be instant, online. However if it is referred, when they call you up to say sorry you can then argue again cos the person that calls you is always an underwriter - usually from India.

I have always had to argue with them and they always back down - however they do not always do an external search, only sometimes. Thing is this is why I always say to people - go into branch and get an account review each year this will then tell you exactly what your pre-approved limits are.

If HSBC accept the o/d request online it is automatically adjusted when you log out and in again. I have had 3 appeals on the phone (i.e. applied to increase online, they rung to say no and I convinced them to say yes) and one increase online from £500 to £700, was instant.

If you don't need it then don't apply, pointless cos it does affect your score when you apply with HSBC and get declined.

never-in-doubt

Innocent_Guy wrote: »

I have had my HSBC account for a few years but I have just opened a credit card with them.

I will hold fire for a while then, TBH I do not need the O/D but would like to know its there :-)

Your recent CC or sygma stuff will have no impact on your o/d application mate. Overdrafts are always scored using behaviour unless you are not entitled in which case they perform a soft search with either CC/EX

edinburgher

Got a rejection letter from Vanquis 9 weeks after my original application. I won't be appealing it as in my opinion it's a waste of time dealing with any company who'd keep a potential customer holding on for that long!

seeya23

edinburgher wrote: »

Got a rejection letter from Vanquis 9 weeks after my original application. I won't be appealing it as in my opinion it's a waste of time dealing with any company who'd keep a potential customer holding on for that long!

well that took some time to come lol