The Sub Prime Credit Thread - Part V

ARTooD2

Well I phoned NatWest today and they said everything is set up with the account and I can go ahead and move all the direct debits. I mentioned that I read on the internet that the account could still be closed down and he said it wouldn't be. Think this means i've passed the AVU thing or should I wait a week just to be sure?

brians_daughter

Hi all, quick Q re the HALIFAX. my OD is reviewed annually - if i was to reduce my OD limit by say £100 or so would that then postpone my od review for 12months or would it still be carried out as normal in October? I have run up quite an OD this summer as my temp work hasnt been as free flowing as i would have liked. Now got myself a pt perm contract so plan to decrease it every month but just dont want em reducing it by 1/2 when it comes to review times

Red_Rabbit

brians_daughter wrote: »

Hi all, quick Q re the HALIFAX. my OD is reviewed annually - if i was to reduce my OD limit by say £100 or so would that then postpone my od review for 12months or would it still be carried out as normal in October? I have run up quite an OD this summer as my temp work hasnt been as free flowing as i would have liked. Now got myself a pt perm contract so plan to decrease it every month but just dont want em reducing it by 1/2 when it comes to review times

Hi

Yes I done this with my halifax account all the time, in the days when it showed you the maximum you could apply for. I'd apply for the guaranteed level then a month before review id drop it by £200 or so and it changed the review date.

Failing that, if the guaranteed amount is still there then try to increase to the maximum guaranteed level that it shows you. At one point mine had £17000 but I did wimp out, mine was £1750 most the time and I dropped to £1500 at the review then a month later back up to £1700 or so.

That is what happened to me.

Red_Rabbit

kilasuit wrote: »

Just applied for Sainsburys CC and got the message "Thank you your application is being processed.

Betting its either a yes and min limit or a no.

Anyone got any experience with them?

Hi

how did this result? was it accepted?

Zack1

onefortheroad wrote: »

my wife got a increase off auqa after 6 months i think

Yep, you get them after 6 months by phoning, or some people have reported getting automatic ones. So I'll be phoning as soon as I've paid my 6th statement if I haven't had one automatically

Red_Rabbit wrote: »

Hi

Yes I done this with my halifax account all the time, in the days when it showed you the maximum you could apply for. I'd apply for the guaranteed level then a month before review id drop it by £200 or so and it changed the review date.

Failing that, if the guaranteed amount is still there then try to increase to the maximum guaranteed level that it shows you. At one point mine had £17000 but I did wimp out, mine was £1750 most the time and I dropped to £1500 at the review then a month later back up to £1700 or so.

That is what happened to me.

You still can see your maximum guaranteed level, put £9999 in the request box and press apply and it comes up with a box saying "if you wish to apply for more then £x (your guaranteed overdraft limit) then phone us on.... or visit your local branch". My limit is £100 :rotfl: I guess the minimum criteria to open a current account is £100, as I see a lot of people say they open accounts with £100 ODs

I'm not taking mine, I don't see what about £1 a day is easier than X% APR that every other bank uses!?!?! :rotfl:

Red_Rabbit

Zack, what does yours say? I have closed my account so cannot check what mine is, but when I used it I was sure it changed monthly at least! I once had a limit of £1700 and it showed my maximum as £150. how strange! I did panic thinking they'd cancel it but they never

Zack1

Mine says £100, it's a new account and I'd have only just scrapped through their scoring to open it, so £100 seems right... I have £0 active though, no point as it'll show up on my credit report and I'm not going to use it with those disgraceful charges. Now just waiting to see if it goes up in future months (if it does obviously it's a sign my internal score is rising = credit card )

Red_Rabbit

Zack1 wrote: »

Mine says £100, it's a new account and I'd have only just scrapped through their scoring to open it, so £100 seems right... I have £0 active though, no point as it'll show up on my credit report and I'm not going to use it with those disgraceful charges. Now just waiting to see if it goes up in future months (if it does obviously it's a sign my internal score is rising = credit card )

oh, mine never showed up before and my hsbc one still doesnt. It does if you use it as I was around £100 overdrawn on my hsbc account a few months ago and it showed balance £100 (on experian). Maybe they only record overdrafts when you're actually in the overdraft?

You think? I dunno, just trying to compare notes :beer:

Zack1

Red_Rabbit wrote: »

oh, mine never showed up before and my hsbc one still doesnt. It does if you use it as I was around £100 overdrawn on my hsbc account a few months ago and it showed balance £100 (on experian). Maybe they only record overdrafts when you're actually in the overdraft?

You think? I dunno, just trying to compare notes :beer:

My Natpest student one works like that (that's why I'm out of it but still have it active, so I can use it if I feel like it then pay it back - i.e. when SFE screw up my loan payments.....) but not sure about other banks. Pretty sure some banks will put the limit on your report, just like a credit card will.

I don't think it's a good idea anyway, applying for credit when I don't need it will probably tell them that I'm not the most secure financially and so hit my internal score and also affect my credit card app, so even if it doesn't show externally (via CRAs) they'll be able to see it internally when determining if I get a card or what limit to give me, so they'd add up the limits I have and then what I'm using and get a % from that, and then they'd see I have more with them that I'm not using but could use, and having too much available credit is not good.

My Natpest one I can use but it doesn't show up, so technically I've got £1,500 more available credit than they/Cap1/Aqua know about If Aqua knew about it I guarantee they'd have never have have given me the card! :rotfl:

Oh and for people slating A&L/Santander..... https://forums.moneysavingexpert.com/discussion/comment/35340765#Comment_35340765

Red_Rabbit

oooh what happened with your vanquish application? I just spotted it was declined after approval. what does that mean, that vanquish now has its own avu?