The Sub Prime Credit Thread - Part IV

ElkyElky

never-in-doubt wrote: »

Don't go mad - too many applications will hinder you. If you have enough credit then sit with it for 6 months then get one decent card with a mainstream lender and BT all the crappy cards onto it then close them and start working up mainstream.

If you want a mortgage then having one card with a higher limit is better than 10 cards with £5oo limits!

It's more fun managing 10 cards with £500 limits. :rotfl: You'd need to hire an accountant just to make sure you don't miss any payments!

ElkyElky

I've gone a few weeks without hitting the apply button. I still have 6 searches within 3 months and 8 in a year, one will be dropping off soon.

I wish time would go quicker so I can reapply for that Asda card.

Whamy

Your right mate no applying for a while now. Apart from a couple of hundred pounds on my Cap1 card there all clear. Mostly use them for work as I have to travel a little bit now hotels, petrol etc.


If I leave them as they are for another twelve months what cards would be my best bet after that?


Was thinking to keep the Barclaycard as they will more than likely upgrade that going by previous experience with them.


Run the new Aqua for twelve months and then close.


Keep Cap1 and see if they will upgrade if not ditch and reapply for one of there better cards.


MBNA because they hold £100 on the account there unlikely to upgrade it so close this as well.


Not sure on Vanquis although its sub prime its also the card I have with the highest limit which going by what you said NID might be worth keeping open a bit longer.

CocoPopsLover

ElkyElky wrote: »

It's more fun managing 10 cards with £500 limits. :rotfl: You'd need to hire an accountant just to make sure you don't miss any payments!

PMSL! Always someone to make me laugh!

Ah that made my afternoon!

Zack1

never-in-doubt wrote: »

Post on it mate! The riskier the better lol :rotfl::rotfl:

Haha!!

Whamy wrote: »

Hello Chaps


After everyone's account with Monument got closed mine included I was feeling something was missing in my wallet. Haven't applied for anything in ages so I thought I'd give a couple of applications a go.


First was Aqua been turned down by them twice before held my breath hit the submit button and got a auto accept ! said my credit limit should be £900 had the T&Cs through the post which I've signed and returned just waiting for the card.


Second was Barclaycard Initial in the past I've not had the best of relationships with Barclaycard
in fact I've only just got them to remove an incorrect default of my file with the help of the ICO.
Did the application on line again pressed submit and bingo auto accept again but fell of my chair when I saw the limit £2000 I was expecting it to be declined but that will do nicely.


In my wallet now


Vanquis Gold Card £2500 Limit
Capital One Classic £1900 Limit
MBNA Visa £500 Limit Although they still have £100 of mine as security
Aqua Master Card £900 Limit Waiting on Card
Barclaycard Intial £2000 Limit Card Arrived awaiting pin
Burtons Store Card £500 Limit Now run by Santander
Next Store Card £900 Limit


All the best

Haha that's a nice collection.

How come MBNA have security? Can you say that in appeal letters? I'd have them a grand security (only for a bit, I want my money back ) if they'll give me a card with a decent limit!!

ElkyElky wrote: »

It's more fun managing 10 cards with £500 limits. :rotfl: You'd need to hire an accountant just to make sure you don't miss any payments!

:rotfl:Hahahahaha!! That's so true! I'm still waiting on MBNA, it was 3 weeks yesterday since I sent the appeal through, so should be getting a reply in the post soon (is there any post on Bank Holidays!? If there is I'll go and check mine!)

ElkyElky

Nope no post today unfortunately. This is why bank holidays suck.

Zack1

ElkyElky wrote: »

Nope no post today unfortunately. This is why bank holidays suck.

Ah cool, thought not. Don't want to look stupid going down to reception and checking my post box

Hopefully the good news from MBNA arrives tomorrow then:rotfl:

Aqua1985

Have just been accepted online by aqua and been told that I would have a 'provisional' credit limit of £250 is this the norm or will it be any higher? Also how long now from appying online to receiving the forms to sign to receiving the card and pin? Have a vanquis card in the last month and they were pretty quick. Have a good credit rating but quite a large amount of unsecured debt (but great payment history) so had to go sub prime :cool: but whateva still happy!

thanks

Zack1

http://www.natwest.com/personal/credit-cards/g1/classic.ashx#tabs=section2

Would I have a chance of getting that? As I'm an existing customer... It asks for account number & sort code, so if I give them the account number of the student account? That way they might give me a decent limit and get rid of the student card? As it's them that issued the student card would they potentially make the decision, or could I offer that in any appeal? I’ll probably have to apply in June rather than now though.

I see the minimum limit is £300, so could I get any kind of "transfer"? I'm on £350 with the student card, I'd take the £50 cut (as Capital One is going up by £100 soon) just because eventually they should give me more, where with student account they say I'm having £350 and that's the end of it:mad:. I don't mean transfer as in balance transfer either (I know they aren't permitted, I don't have a balance anyway), I just mean some kind of deal with them so that they give me £300 on this card and get rid of the £350 on the other card, which surely if anything reduces their risk (because it's £50 less potential liability)

never-in-doubt

You can only apply to RBS as an existing bank account holder - but you can have multiple cards so no need to close the student one!

Just apply, you'll soon find out! make sure you do it in office hours for immediate decision, also they will pass via Application Verification Unit - my nemesis!

Good Luck!