The Sub Prime Credit Thread - Part V

paulmcerlean

izools wrote: »

The first few digits of the long string of numbers at the bottom of the signature page, is the limit.

Well done! :beer:

Where?

On the blue coloured page where it lists all the info you gave them and what to do next?

In the Ts & C's page it has an annual interest total of £236 based on a credit limit of £1500 in my T's & C's. Does this mean a £1500 limit when the card arrives?

Zack1

paulmcerlean wrote: »

Where?

On the blue coloured page where it lists all the info you gave them and what to do next?

In the Ts & C's page it has an annual interest total of £236 based on a credit limit of £1500 in my T's & C's. Does this mean a £1500 limit when the card arrives?

In my experience no.... a lot of the T&Cs for me are based on 1k or £1,500, but I get pittance like £200 :rotfl:

It might be different rules for different cards though, but I wouldn't hold much hope tbh....

BugsyBrowne

Oh well got rid of my cap1 card at last,now thinking do i transfer my flybe over to my barclaycard and get rid of flybe and just have 1 credit card..its defiantly an option..

kazimojo69

Thank you. Thank you. Thank you. You lot!!

I have just applied for a Capital One CC. Been rebuilding my credit score slowly.

I have Marisota - £1000, The Shoe Tailor £700, JD Williams £125.

Got 3 green ticks on the Cap One app - got home last night and received a letter - expecting to open it and it say a big NO.

Anyway - it was my PIN number and advising my card is on the way!!

WOOHOO!!! Wonder how much my limit will be???

So - thank you all so much - couldnt have done it without all your info & help.

How long should I leave it before applying for something else and what should that be ?? xxx

chexum

kazimojo69 wrote: »

I have Marisota - £1000, The Shoe Tailor £700, JD Williams £125.

WOOHOO!!! Wonder how much my limit will be???

How long should I leave it before applying for something else and what should that be ?? xxx

Congrats, well done

Limit is up to £1,500 Though capital one seems to match the common/oldest limits you already have, so there's a chance they think £125 is the one you are trusted with, which may become £200 as that is the lowest.

As you'll have a generic revolving credit line available/reported on your credit file, you will really need to be patient before biting into a prime application. It doesn't hurt to try applying for anything(!) every few months, but a prime lender is more likely to accept you with:

- the first new application in 6-12 months,
- only a few searches in the past year,
- most of your credit accounts more than 12-18 months old.

If you really want to have a Tesco card, for example, don't try it 11 months for now, or if you do, don't try it again in 6-12 months

You'll probably need another sub-prime within a year to show that you can cope (sensibly!) with higher limits, as capital one doesn't always increase theirs...:cool:

kazimojo69

Thanks.

I notied someone early had applied for a Acqua card not long after a Cap 1 and was accepted. How long should I leave it for applying for a Prime Card? The same?

Just so happy to be back on the right road

Red_Rabbit

I too got accepted for Capital One the other day, was declined aqua and creation though.

AliceBanned

Zack1 wrote: »

That's great news, well done How long have you been with Halifax? And how long have you had your Reward account open? I've just got a reward account, trying to build my internal score to help me get a Halifax card. I narrowed it down to either the Halifax Clarity Reward or Student as easiest ones to get by the look of it (both don't have 0% deals so should be easier). I see you get £5 cashback if you spend £300 a month, that could be an issue for me then (assuming the minimum CL would be ~£350) so may have to go for the Student


What's your guaranteed overdraft limit by the way?

Edit: I've just seen Student is set at £500 and you can move it down, so probably better off going with the Clarity one and hoping they approve me for ~£350 rather than Student which would need approval for £500 to be given

Sorry for late reply. Thanks, I'm very pleased. Still haven't heard yet what the limit will be though. I opened my Reward account, which is the first account I've had with Halifax (apart from a previous defaulted and repaid credit card!) two years ago. I opened the account because despite paying in a regular salary of 25k to Nationwide, I was refused a debit card and was stuck with a cashcard and cheque book only. They also refused me in the branch in the open and stated that it was due to my poor credit rating! I argued that I had paid my salary in to them for two years, and they wouldn't give me a debit card so I was going elsewhere. Halifax have been much better, the Reward account is great for me. Overdraft limit £250 but £1 a day charge for this, so I don't use it much.

Best of luck with your application.

brians_daughter

well, my aqua statement came today and they have raised my limit from £900 to £1250 without asking... Oh i cant wait to get hold of a mainstream card lol.

izools

Re: Aqua - the minimum is £250 but on the reverse of the page you sign there should be a string of numbers and letters under a "do not mark below this line" line. Perhaps they've changed it? Last time I saw one (just last month - my friend got one) the string started 750 and he had a 750 limit.

Typical starting limits range from £250 to £1,000. They aren't steadfast to starting people at the lowest level like Capital One and Vanquis.

Whatever it is, well done :beer: