Credit card -your 'current' Debt/avail credit ratio- Question.?

CannyJock

What you doing research on Danny? Has to be a master scheme behind all the specific questions you've been asking

Let us in on it and we'll see what we can come up with

Danny_G

CannyJock wrote: »

What you doing research on Danny? Has to be a master scheme behind all the specific questions you've been asking

Let us in on it and we'll see what we can come up with

haha, no research Canny, just wanted to apply for a few extra cards, and wanted to ask people who have applied before, for advise for any pitfalls to avoid.
An example of a pitfal to avoid = dont apply for too many cards at once.

but just had more questions.

chattychappy wrote: »

I can only tell you in my case I'm at about 40% and it hasn't stopped me getting credit. It's probably higher now than it's ever been, so lower figures haven't been a problem. I suppose the exact formula is a closely guarded secret.

Going out on a limb here, I'd guess the following are serious negatives for standard cards - though none insurmountable:

Fewer than 2 existing credit accounts greater than 6 months old
>75% of credit used
<20% of credit used - though perhaps you just get a low limit
High total outstanding (perhaps greater than £30K)
High total outstanding/declared income (perhaps greater than 0.5)
Low declared income (less than £15K)
Have taken cash advances recently
Only paying minimum balances (depends on cards concerned - only some report)
Not on electoral roll at address given
More than 2 recent searches
More than 1 missed payment
Saying you're self employed or unemployed

Just guesses on my part, I really have no idea. Should get a few others chipping in!

can any body else confirm what the companies use as a criteria of % of your debt/available credit when applying

thanks in advance

.

savagej

chattychappy wrote: »

Not sure if this is the plan, but do bear in mind that if you say something that is not true you could be committing fraud and the attempt could be logged (if they spot it).

thats a point, I have been logging in just to search my post code on various applications to see if and in what format my address appears.

another points is and I have not read the whole thread so dont know if it has been mentioned but be careful who you do any dummy app with as the RBS group credit check you before the end, unlike everyone else who do not do it until you sign the agreement (for current accounts at least, not sure about credit cards).

Danny_G

savagej wrote: »

thats a point, I have been logging in just to search my post code on various applications to see if and in what format my address appears.

another points is and I have not read the whole thread so dont know if it has been mentioned but be careful who you do any dummy app with as the RBS group credit check you before the end, unlike everyone else who do not do it until you sign the agreement (for current accounts at least, not sure about credit cards).

did you do dummy apps with your Wrong name, wrong address, wrong somthing else?

what is the best way to do a dummy/test application?

Danny_G

Anyone?

are dummy applications noted?

chattychappy

Danny_G wrote: »

Anyone?

are dummy applications noted?

I'm sure they are... but the question is, what would they be noted against that would affect you if you'd made up all the details. I'd be a bit careful about IP address. I don't know how it would help - it would fail the ID check. Almost certainly an offence to do this, even if you don't regard your purpose as dishonest. I wouldn't do it!

Danny_G

chattychappy wrote: »

I'm sure they are... but the question is, what would they be noted against that would affect you if you'd made up all the details. I'd be a bit careful about IP address. I don't know how it would help - it would fail the ID check. Almost certainly an offence to do this, even if you don't regard your purpose as dishonest. I wouldn't do it!

Do you think these credit card applications check and store IP addresses to prevent multiple fake applications?

chattychappy

Danny_G wrote: »

Do you think these credit card applications check and store IP addresses to prevent multiple fake applications?

I'm certain they do. Whether they actually do anything with the data is another matter, I suppose. Obviously same applies to anything else you put down - eg phone number.

Danny_G

Perhaps this thread is being monitored by them people right now too. :eek: