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Cahoot Flexible to Fixed Loan
I currently have a Cahoot flexible loan and am considering changing it to a fixed rate. Has anyone here done this?
Do they do another credit check even if it's for the same amount? (I only ask as I just got turned down for a Capital One card even though I have a great credit score).
Do they do another credit check even if it's for the same amount? (I only ask as I just got turned down for a Capital One card even though I have a great credit score).
"Life is like a game of cards. The hand you are dealt is
determinism; the way you play it is free will.” Jawaharlal Nehru
I am a magnet for all kinds of deeper wonderment
I am a wunderkind oh
I am a ground-breaker naive enough to believe this
I am a princess on the way to my throne
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Comments
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Actually did see this thread yesterday and typed a reply, but I thought you'd think it was rubbish advice, so I deleted it. Anyway, it went along these lines:
I don't know if they'll do a credit check as I've never transferred to a fixed with Cahoot. I know when I increased my flexible limit, they didn't do a check (but it was only for a small increase).
All I can really recommend is to call them and ask the question (you don't need to tell them about Capital One
).
I can see why you'd want to move, as the APR difference is so much, but I really like the flexibilty of the flexible loan. Are you set to save lots?"One day I realised that when you are lying in your grave, it's no good saying, "I was too shy, too frightened."
Because by then you've blown your chances. That's it."0 -
I love the flexibility but frankly am rubbish at paying it off and they have just raised it to over 11% APR. The best way to discipline myself is to do this and have a regular repayment at 5.8 if I am that lucky. Any other cash will then be thrown at my mortgage.
Cheers though
Dee"Life is like a game of cards. The hand you are dealt isdeterminism; the way you play it is free will.” Jawaharlal NehruI am a magnet for all kinds of deeper wondermentI am a wunderkind ohI am a ground-breaker naive enough to believe thisI am a princess on the way to my throne0 -
So did Capital One give you any reasons for them declining? Just wondered if it was something silly that should be rectified just in case Egg do happen to do a search?"One day I realised that when you are lying in your grave, it's no good saying, "I was too shy, too frightened."
Because by then you've blown your chances. That's it."0 -
Hi Ihave switched from a Cahoot flex to fixed and then bakc to Flex without any probs. I liked the low rate on fixed but like the flexibilty£2 saver club, over £200 now:
1p a day increase saving. Paid up to middle April
:j0 -
I switched from fixed to flexible and they did a new credit check, but I did ask for quite a large increase (£1500 to £5000).
Ali
The people who mind don't matter, and the people who matter don't mind
Getting married 19th August 2011 to a lovely, lovely man :-)0 -
mrcow wrote:So did Capital One give you any reasons for them declining? Just wondered if it was something silly that should be rectified just in case Egg do happen to do a search?
Sorry for the delay in replying
No, no reason the second time either. They just directed me to Equifax to get a report (which shows no problem) and sent me a letter saying they had to keep their "criteria" secret in order to operate as a business.
I think they mean they know I am a stoozer and they wont make any money."Life is like a game of cards. The hand you are dealt isdeterminism; the way you play it is free will.” Jawaharlal NehruI am a magnet for all kinds of deeper wondermentI am a wunderkind ohI am a ground-breaker naive enough to believe thisI am a princess on the way to my throne0
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