The Sub Prime Credit Thread - Part V

Zack1

maths wrote: »

Hey all, I applied for a Vanquis card last night and have just received a message saying they will call this afternoon to progress my app. Is this a good thing, or are they phoning cause they need more information?
Thanks

Apparently it means you've been accepted - they'll call you and take DD details (think they try to flog you insurance too). I gave them my DD details the day before I went on holiday... assumed I'd got the card (as people on here were saying just from the text).... came back from holiday 2 weeks later to a letter saying I'd been declined! :mad: Don't know what they're playing at! But that text is supposed to be a good sign, it just wasn't for me!

blerk

I had all but one default fall off my credit file last month, so I applied for Barclaycard and Sygma.

Just had an email from Barclaycard to say I'm accepted with a £800 limit.

How long till I can apply for an increase?

izools

blerk wrote: »

I had all but one default fall off my credit file last month, so I applied for Barclaycard and Sygma.

Just had an email from Barclaycard to say I'm accepted with a £800 limit.

How long till I can apply for an increase?

They'll do it automatically after six months if you're eligible.

izools

And to think we consider £250 credit limits to be tiny...

http://mirror-uk-rb1.gallery.hd.org/_exhibits/money/_more2008/_more10/credit-card-bill-sans-payment-slip-UK-1985-Midland-Bank-Access-1-DHD.jpg

Lol

duggie1982

I have (at last) only got 1 default on my file as the last 4 or 5 just droped off last month. The default is 4 and a half year old to virgin mobiles and now have cap 1 and vanquis reporting green 0's and 2 current accounts with lloyds and RBS. Going to try and not apply for anything until next July when I want to purchase a car.

I hope by that time if everything goes well I might get decent finance!!!! Fingers crossed

TheEffect

Zack, how many searches have you got on your file?

paulmcerlean

izools wrote: »

Why thank you Red Rabbit (I think). I hope I'm not a defensive as Niddy though...

Lol anyway, found out something interesting about Lloyds TSB Risk Scores.

As you may or may not know they get a monthly "insight" feed from Experian so they know exactly what is going on on your credit file up to date all the time.

If they see any new accounts appear on your credit file your risk score increases to 9 (the worst).

If they see any new accounts from the last 6 to 12 months (depending on how many new accounts you've had) you get a "Credit Policy Decline" marker.

I know this because I didn't have a CPD in the time between taking out my LTSB account and getting my first Sygma card.

However I've had a CPD marker since then, and my Risk Score shot up from 3 (which is when they gave me a gold account and gold card) to 9 - as a result of a monthly update from Experian's Insight feed and the only change was a new account - mobile phone from Three. No charges or returned items on my bank account and no other changes on my Experian file like searches or missed payments etc.

So opening new accounts can have a severe adverse effect with some creditors depending on their criteria and lending policies.

You have to be joking?

So if you open a Lloyds account in Jan with a brilliant credit record, are given a overdraft and say Gold account and all is well... then in, say, June, you apply for a mobile phone contract with Vodafone - come July, when Lloyds see this they will refuse to lend to you and black mark your account for 12 months?

Sorry, just not believing that.

In fact, I know it cant be true as I have opened new accounts since opening a Lloyds account and have since upgraded my account twice with LLoyds and took a credit card with them.

Are you sure this is correct?

chexum

paulmcerlean wrote: »

In fact, I know it cant be true as I have opened new accounts since opening a Lloyds account and have since upgraded my account twice with LLoyds and took a credit card with them.

Were your new accounts credit ones (credit card/current accont), or mobile contracts?

Zack1

TheEffect wrote: »

Zack, how many searches have you got on your file?

Wow, just realised I re-applied for Sygma within 6 months! Whoops! Think it's deleted the middle application, saw NID saying something like that, as it's more than 6 months since the November one but 1 and 2 & 2 and 3 weren't 6 apart

Sygma 27/11/2009
Sygma 6/4/2010
Then yesterday….

It's 6 at the moment, the first includes 26th Aug 2009 and the latest is Barclaycard on 12th Aug 2010, so not sure if they picked up on that when they did the searches.... I'm now assuming that's 8 if Sygma search twice?

Thing is I applied for Halifax, Tesco, Virgin and whatever else I could try and get my hands on a few days before, plus Vanquis and co a month back, so I'm guessing they all searched Experian or haven't been added to Equifax yet?

I've started another complaint with Experian because I want to see what’s on there! They’ve effectively robbed my £2 (not life changing I know, but if they are causing me problems I’ll do the same to them!). My credit card they took it from has been closed (and even if the refund reached the account I don’t trust Natpest to give it to me!) so I told them to post it back to me by cheque or to send me the report I paid for 5 months ago. Will be interesting to see what they've gotta say! They won’t post a cheque to the address given as they know a redirect is active, they want the “destination address”, but I told them they aren’t having it because I don’t want them sneakily making a link!

Might take legal advice over my £2! Well if they keep it up I might just take legal advice about them full stop… If Equifax can give me my report online instantly and Napest/Cap1/Halifax (& Aqua/Halifax) and Sygma can give me credit (Natpest £1,350s worth at one time!) along with o2 and 3 giving me mobile contracts and A&L are happy giving me a bank account to add to my 2 with Natpest why can't they supply my report!?

Edit: Oh and the funniest bit is that they want utility bills from Student Halls! And keep repeating that line.... even though I've told them 3 times we have NOTHING in our name at student halls! Everything is inclusive in rent so no utility bills that they request are ever possible, and management communicate with us to home or via email - even the uni write to home (despite us having halls as our current contact address) so how do they expect me to have something in my name here!?

They're going to love me now, I've moved room (for next year) so I'm going to ask them to send it to my new one when they do eventually reply!

Cash_Flow

paulmcerlean wrote: »

You have to be joking?

So if you open a Lloyds account in Jan with a brilliant credit record, are given a overdraft and say Gold account and all is well... then in, say, June, you apply for a mobile phone contract with Vodafone - come July, when Lloyds see this they will refuse to lend to you and black mark your account for 12 months?

Sorry, just not believing that.

In fact, I know it cant be true as I have opened new accounts since opening a Lloyds account and have since upgraded my account twice with LLoyds and took a credit card with them.

Are you sure this is correct?

I have been with lloyds for 12 years and opened various other accounts outside of the lloyds banking group and I don't have a CPD

My risk band is 3.