The Sub Prime Credit Thread - Part IV

never-in-doubt

fairmorn308 wrote: »

Afternoon NID

Thats interesting reading above. I am home in a few days and got a few questions to ask ya as need some advice but will ask closer to the time

Hi matey - yea sure, just fire away whatever - obv PM me if I miss anything

Enjoy your break at home won't you - skiver lol :beer: :beer:

noah271007

never-in-doubt wrote: »

Exactly mate - but they do seem to accept HSBC customers easier, as TheEffect said, HSBC declined him for a loan and when he switched to FD they accepted him - how weird, comes from the same pot of money in essence - just the payscale of the advisor at the end of the day, as to whether you get it or get told to "do one" :rotfl:

Given the fact FD is one of the most hardest to pass their credit scoring in the industry to able to enjoy their products except for building societies like Coventry and Nationwide, how do HSBC rank?

never-in-doubt

HSBC are a lot easier than FD mate - put it this way they accepted me LOL

But seriously, I think HSBC are the best bank - ergo I want to move to their exclusive area i.e. 1st Direct! HSBC just doesn't cut it for me no more - need a bank that listens, can overturn silly decisions and actually lends when you ask for it.

I never asked HSBC for anything so why have they put a lending block on me? Its like telling an ex druggie that they won't supply him any more heroin - ermmm, no !!!!!! sherlock!

At HSBC everything has to be dealt with centrally (fraud related) whereas with FD the advisors can make more decisions....

My opinion, naturally mate.

noah271007

Everyone has various different experiences dealing with the two, FD and HSBC. One got declined for a loan with HSBC and yet accepted with FD. But i have to agree that FD is much more personal when dealing with their own customers.

Does FD and HSBC check new applicants going back 6 years credit history and 3 years for current customers using BS on their internal system? I am tempted to apply for FD.

never-in-doubt

noah271007 wrote: »

Everyone has various different experiences dealing with the two, FD and HSBC. One got declined for a loan with HSBC and yet accepted with FD. But i have to agree that FD is much more personal when dealing with their own customers.

Does FD and HSBC check new applicants going back 6 years credit history and 3 years for current customers using BS on their internal system? I am tempted to apply for FD.

HSBC search 3 years mate so do FD - it is an Experian thing, unless they specifically request a full search in which case you'd know cos they would also search the other CRA (i.e. Equifax)......

Usually a full search involves both CRA's being used, as a minimum.

Try FD, but why not try applying over the phone? see if that makes a difference?

FD do not use Behaviour scores, they told me earlier that you get pre approved and this changes every 6 months so when you speak to an advisor, they can tell you any pre approved limits, otherwise do one search on an account review thing, like HSBC - I assume.

Like me, I applied for the account, cc and 2 saving accounts but only one search will be performed for all 4 accounts.....

If anything wait and see what happens with innocent and me before jumping in lol.... at least you'll know if you're likely to get accepted or not! But put simply, your HSBC behaviour score means nothing to FD other than to gauge an internal value to you and your lending needs as a new customer.

Zack1

Just got hold of my other free report (I get another in November as that's when I used the first, so thought I'd use the 2nd one now)

Current Address
Zack Yes Apr-09 Added at the address
Zack Yes 09-10

Previous Addresses
No Data Present

Linked Addresses
No Data Present

So those Experian donkeys haven't actually ruined my report by the looks of it?

So strange that Aqua asked me whether I'm at another address, maybe that was just a coincidence? Or does whatever Experian added not get reflected accross all 3 CRAs? Who do Aqua search?

11 0's for o2, hahahaha. I've paid them late 3 times! They update on 4th of the month though, so I've cut it fine (my payment date is 30th, so I presume I only get away with it as I've paid on 2nd & 3rd of the months in question!)

Cap1 reports full data ... grrr! Might ditch them because it's bad for other people to see how maxed out my card is isn't it?

Natpest overdraft only shows the "current" balance as -£598, doesn't go back any further so I can't go through a trail and pin the date down going to have a look and see where I was £598 over and see if I can pin down the date from that though! It says it was updated on the 19th... will have a look around then

I only have 2 credit searches in last 6 months on Equifax...
Thought I might not have waited 6 months with Sygma though....
06/04/2010 Credit Search Sygma Bank (Uk)
27/11/2009 Credit Search Sygma Bank (Uk)

22/11/2009 Credit Search Barclaycard Cpu Link (6 months exactly!)

Might close Cap1 and give Barclaycard a shot in a month or 2 (when Cap1 should've reported that I've closed them down)

Innocent_Guy

never-in-doubt wrote: »

HSBC search 3 years mate so do FD - it is an Experian thing, unless they specifically request a full search in which case you'd know cos they would also search the other CRA (i.e. Equifax)......

Usually a full search involves both CRA's being used, as a minimum.

Try FD, but why not try applying over the phone? see if that makes a difference?

FD do not use Behaviour scores, they told me earlier that you get pre approved and this changes every 6 months so when you speak to an advisor, they can tell you any pre approved limits, otherwise do one search on an account review thing, like HSBC - I assume.

Like me, I applied for the account, cc and 2 saving accounts but only one search will be performed for all 4 accounts.....

If anything wait and see what happens with innocent and me before jumping in lol.... at least you'll know if you're likely to get accepted or not! But put simply, your HSBC behaviour score means nothing to FD other than to gauge an internal value to you and your lending needs as a new customer.

Have to agree with the above, I asked FD what they will be looking for in my HSBC account and they said they will check amount of credits & debits, check that I have not excessively been overdrawn or over my overdraft and to confirm my salary. I would say it is the equivalent of sending in bank statements when requested.

seeya23

new lower limit on vanquis

Apply Now for a Vanquis Bank Visa Credit Card

We've already helped 800,000 people in similar situations. You can make a Vanquis Visa Card application in about 5 minutes and we'll give you a response in 1 minute.
Just some of the benefits

• You’ll start with an easy to manage credit limit from £150 to £1,000
• You could get a Credit Limit increase on your 4th statement and further increases every 4 months, up to £3,000*
• A UK Customer Service Centre to help and support you
• We've already helped over 800,000 people like you get the credit they deserve

Innocent_Guy

seeya23 wrote: »

new lower limit on vanquis

Apply Now for a Vanquis Bank Visa Credit Card

We've already helped 800,000 people in similar situations. You can make a Vanquis Visa Card application in about 5 minutes and we'll give you a response in 1 minute.
Just some of the benefits

• You’ll start with an easy to manage credit limit from £150 to £1,000
• You could get a Credit Limit increase on your 4th statement and further increases every 4 months, up to £3,000*
• A UK Customer Service Centre to help and support you
• We've already helped over 800,000 people like you get the credit they deserve

Just commented on the other thread but they have also increased the maximum limit to £3000

never-in-doubt

Innocent_Guy wrote: »

Just commented on the other thread but they have also increased the maximum limit to £3000

**Shudders**

Imagine the repayments on a debt of £3,000 assuming an average APR of what, 40% :eek:

I'd rather eat dried rabbit droppings, personally (they are meant to taste a bit like ermmm, dried rabbit dropping)! :rotfl: