The Sub Prime Credit Thread - Part V

paulmcerlean

Sygma will decline anyone not on the electoral role.

mattlfc79

Got my 4th Statement from Cap 1 last week.... no limit increase! Gutted lol

Is it worth me requesting one online or is there another time that they usually do limit increase. Havent maxed the card but have a balance on it. Paying about 35-40 pound a month instead of the minimum payment.

Cheers

izools

paulmcerlean wrote: »

Sygma will decline anyone not on the electoral role.

Yes. They will also decline you if your stated time at address doesn't tie up with what the Electoral Role says

Zack1

mattlfc79 wrote: »

Got my 4th Statement from Cap 1 last week.... no limit increase! Gutted lol

Is it worth me requesting one online or is there another time that they usually do limit increase. Havent maxed the card but have a balance on it. Paying about 35-40 pound a month instead of the minimum payment.

Cheers

Yea send them a secure message asking about it and why you haven't got one - pretty sure all their cards guarantee you an increase at month 4 as long as you pay on time, make a purchase and don't go over the limit.

izools wrote: »

Yes. They will also decline you if your stated time at address doesn't tie up with what the Electoral Role says

Really? That's not fair! I moved to the address well before I was 16, but only registered for Electoral Roll just before 18 (for credit apps rather than voting). I keep saying 4+ years, because it is, but Electoral Roll will only say 1 year :mad:

izools

Zack1 wrote: »

Yea send them a secure message asking about it and why you haven't got one - pretty sure all their cards guarantee you an increase at month 4 as long as you pay on time, make a purchase and don't go over the limit.


Really? That's not fair! I moved to the address well before I was 16, but only registered for Electoral Roll just before 18 (for credit apps rather than voting). I keep saying 4+ years, because it is, but Electoral Roll will only say 1 year :mad:

That's different and unavoidable due to your age.

Essentially, if an application comes through with a mismatch at time of address it is automatically referred for manual review by the underwriter.

The underwriter will know the reason for the referral, and then make a decision based on the facts - and if they can see you've been registered for as long as legally possible, it'll go through.

You can also call them to speak about the mismatch, and explain once it goes through to underwriting.

sutton111

izools wrote: »

That's different and unavoidable due to your age.

Essentially, if an application comes through with a mismatch at time of address it is automatically referred for manual review by the underwriter.

The underwriter will know the reason for the referral, and then make a decision based on the facts - and if they can see you've been registered for as long as legally possible, it'll go through.

You can also call them to speak about the mismatch, and explain once it goes through to underwriting.

It never happened to me with Sygma, i've lived at my address for 2 years and 2 months, but, i've only been on the ER for 16 months. This was auto accepted on the Internet.

Capital One never had a problem either, nor HSBC.

So in my experience as long as your on the ER there shouldn't be too much hassle.

izools

sutton111 wrote: »

It never happened to me with Sygma, i've lived at my address for 2 years and 2 months, but, i've only been on the ER for 16 months. This was auto accepted on the Internet.

Capital One never had a problem either, nor HSBC.

So in my experience as long as your on the ER there shouldn't be too much hassle.

The problem arises when you've not been on it for a long part of your residency - for example you've been at your address for 10 years but only registered to vote for two.

They declined my friend for this reason. They said an appeal would be worthwhile if he can get a letter from the bank confirming when he last changed address with them

sutton111

izools wrote: »

The problem arises when you've not been on it for a long part of your residency - for example you've been at your address for 10 years but only registered to vote for two.

They declined my friend for this reason. They said an appeal would be worthwhile if he can get a letter from the bank confirming when he last changed address with them

Ah, I get you.

Zack1

izools wrote: »

That's different and unavoidable due to your age.

Essentially, if an application comes through with a mismatch at time of address it is automatically referred for manual review by the underwriter.

The underwriter will know the reason for the referral, and then make a decision based on the facts - and if they can see you've been registered for as long as legally possible, it'll go through.

You can also call them to speak about the mismatch, and explain once it goes through to underwriting.

I got declined outright, that was probably one of the reasons, so I'll make sure to appeal it next time. I didn't register as soon as I was allowed (16), because it's pretty useless until you're 18, I'll definitely challenge it next time though and ensure I put that I only just joined the ER at 18, despite living there for 3 years before . When you say call and speak to them, can you do this before they've made a decision? So as soon as it says online it's been referred then you phone up and say? To save writing a letter etc

chexum

BTW, does anyone know if current account search weigh roughly the same or very differently as credit card searches? I've been declined for a new current account after I got the offer and sent back ID, and would like to plan ahead

Can they use other bank statements for desirable/undesirable spending patterns as opposed to name/address confirmation? Maybe I don't want to send credit card/bank account statements or phone bills in the future