The Sub Prime Credit Thread - Part IV

fairmorn308

noah271007 wrote: »

Mate i think your chances are practically zero if you have CCJs from 2006 and 2007. CCjs will always show up in the public data section of your credit file for 6 years whereas credits accounts (defaults) will not depending on how far back they search.

you have the wrong person there mate. I dont have any CCJs or Defualts on my file

Mrs_Ryan

think HSBC must have tightened their criteria - my first student account was with HSBC when I was 18, £750 overdraft limit and £500 credit card limit. That was my first step on the credit ladder and... I only paid off the credit card a couple of years ago and I paid off the overdraft last year... 10 years on :eek:

BugsyBrowne

fairmorn308 wrote: »

you have the wrong person there mate. I dont have any CCJs or Defualts on my file

Fairmorn if you have a good history try it mate....

kilasuit

Just got a new laptop from Comet on 9months BNPL thru Santander.

never-in-doubt

fairmorn308 wrote: »

you have the wrong person there mate. I dont have any CCJs or Defualts on my file

LOL, its seeya that has the 2 CCJ's - :beer::beer:

brians_daughter

well, i rang last Wendeday to close my vanquis account (£2000 limit) was told i needed to keep the account open unil next statement cause there may be interest i need to pay (there isnt i pay in full every month) so asked them to reduce my limit to £250 (looking at remortgaging soon and wanted not much available credit and to pay off all i could) so they said they would do it - today i got a text message to tell me 'good news my vanquis limit has been raised to £2500' ggggrrr these people seem hell bent on luring me to spend all i can with them with 50% interest or whatever it is..... hummmm maybe i will chuck an i pad on it now lol

CannyJock

brians_daughter wrote: »

well, i rang last Wendeday to close my vanquis account (£2000 limit) was told i needed to keep the account open unil next statement cause there may be interest i need to pay (there isnt i pay in full every month) so asked them to reduce my limit to £250 (looking at remortgaging soon and wanted not much available credit and to pay off all i could) so they said they would do it - today i got a text message to tell me 'good news my vanquis limit has been raised to £2500' ggggrrr these people seem hell bent on luring me to spend all i can with them with 50% interest or whatever it is..... hummmm maybe i will chuck an i pad on it now lol

No point asking for a limit reduction - by the time they update your credit report the card will already be closed. And it's better for your credit rating if you close a card while it has a high limit rather than a low limit.

elfen

Does it matter that my Nationwide account has not been used in a year, or do you think I should use it for cash withdrawals when I go on holiday in August? (cashcard/cashcard+)

TheEffect

A few days ago I mentioned I've started a little business to try and make a little money. I'm importing iPod copies and selling them.

Any feedback on the site is appreciated. It's nowhere near done yet. There's a few products up at the moment.

https://www.derade.com

Innocent_Guy

This was given to me to use at work when reviewing credit accounts. Not sure whether I am meant to share it but oh well!

What is the Risk Score?
The Risk Score was developed using over a decade of financial data in partnership with third party consultants and indicates the likelihood of a company failing in the next 12 months - it scores both Limited and Non Limited Companies.


What is the Risk Score?
Limited / Incorporated Risk Bandings
0 - 10

Extreme Risk!

This company exhibits characteristics similar to companies who have generally failed.

11 - 25

Very High Risk!

This company exhibits characteristics similar to companies who have generally failed although they tend to be less severe.

26 - 40

High Risk!

This company's Credit Limit should be regarded as an absolute limit and may require some form of guarantee.

41 - 50

Above Average Risk

Assurances in the form of guarantees may be necessary especially if the Credit Limit assigned is required to be exceeded.

51 - 60

Average Risk

This company has an average risk status and should be treated with a degree of caution.

61 - 80

Low Risk

There is a high degree of confidence this company will prove good for the assigned Credit Limit.

81 - 100

Very Low Risk

There is every confidence this company will prove good for the assigned Credit Limit.


Non Limited / Unincorporated Risk Bandings
0 - 10

Extreme Risk!

Extreme Risk - This business exhibits characteristics similar to businesses who have failed.

11 - 25

Very High Risk!

This business exhibits characteristics similar to those who have a high likelihood of failure. Advance payment is recommended.

26 - 40

High Risk!

This business is showing early signs of failure. Advance payment or enforceable guarantees are recommended.

41 - 50

Above Average Risk

Treat with caution and seek assurances in the form of guarantees or advance payment if the credit limit is exceeded.

51 - 60

Average Risk

This business has an average risk status and should be treated with a degree of caution.

61 - 80

Low Risk

There is a high degree of confidence this business will prove good for the assigned Credit Limit.

81 - 100

Very Low Risk

There is every confidence this business will prove good for the assigned Credit Limit.


Score Codes
Score Flag Situation
Limit Flag

D

Dormant, non-trading or agent

N - No guide available

I

Insolvency proceedings

N - No guide available

W

Winding up Petition

N - No guide available

Z

Dissolved

N - No guide available

L

Late Accounts / Accounts Becoming Out of Date

N - No guide available

CX

Insufficient Information - Refer to Customer Services

N - No guide available

CA

Insufficient Information - Refer to Customer Services

N - No guide available

N

Insufficient Information Available

N - No guide available


Consumer Credit Scores
0 - 9

N - No guide available

10 - 29

N - No guide available

30 - 39

N - No guide available

40 - 59

N - No guide available

60 - 69

N - No guide available

70 - 89

N - No guide available

90 - 100

N - No guide available

What is the credit limit?
The credit limit should be regarded as a yardstick for the overall level of acceptable credit, or alternatively, the maximum amount of credit to be extended at any one time.

What is the contract limit?
The contract limit is the recommended aggregate annual value for supply contracts.

Update Notifications
Update notifications are sent to the My Portfolio on a daily basis for all limited company reports and non limited business reports saved into your portfolio, please see the table below for assistance with these updates.
NOTIFICATION RECEIVED NOTIFICATION INFORMATION GENERAL INFORMATION


Adverse Information Detected For Informational Purposes A score change would then follow this notification
CCJ Added 0 -> 1 The number of current unsatisfied CCJ's
0 = previous number
1 = current number
CCJ Added 0 -> 1000 The value of the current unsatisfied CCJ's
0 = previous value
1000 = current value
CCJ Removed 1 -> 0 The number of current unsatisfied CCJ's once one has been removed
CCJ Removed 1000 -> 0 The value of the current unsatisfied CCJ's once one has been removed
Credit Limit Changed 1700.00 -> 2500.00 Previous Credit Limit followed by Current Credit Limit
Director / Secretary Appointed - A.N OTHER New directors/secretary's name
Insolvency Information Detected For Informational Purposes A score change would then follow this notification
Internally Instigated Recalculation For Informational Purposes A score change would then follow this notification
Name Changed From

---

to

---

Previous name to current name
New Accounts Analysed 20080101 This is the date of the accounts
New Accounts Filed For Informational Purposes A further update - new accounts analysed
New Mortgage & Charge(s) New Mortgage added Additional Mortgage and Charge added
Registered Address Changed From 1 THE STREET, THE TOWN, THE POSTCODE
to 66 THE ROAD, THE CITY,THE POSTCODE Previous address followed by the new address
Risk Score Changed Risk Score Changed - 81 -> 80 Previous risk score to current risk score
Strike Off Received For Informational Purposes The risk score and credit limit is not affected at this stage
Searching for companies in the Channel Islands
Companies incorporated in the Isle of Man, Jersey and Guernsey can be located through the company search screen.
Searching for companies in Northern and Southern Ireland
Northern Ireland - Registration numbers should be prefixed with an NI
Southern Ireland - Registration numbers should be prefixed with an IE or IE0
Where does your data come from?
Our data comes from the various sources shown in the diagram below.