The Sub Prime Credit Thread - Part V

izools

Zack1 wrote: »

Na it's o2 I'm with at the moment, but they're clowns and refuse to give me anywhere near what other networks will, so I'll be off to another network... hopefully they use Experian

Not that I can see my Experian report anyway! It's probably got loads of fraud markers on because I dared to report Experian to the ICO....

And my 3 account is a year old today I think! I'll leave it another month or so though!

Have you considered Three for a full contract? I have an X10 with them, and it's been great. £35 a month for 2000 mins, unlimited texts & web, and 100 Picture messages. And the X10!

Bargain. And as I already had the SIM Zero they didn't credit search me, either Happy days!

The other networks that search Experian are Vodafone and Orange; although Orange have recently started searching Equifax from time to time...

Zack1

ElkyElky wrote: »

I'm going to open a student account with RBS and make good use of the free overdraft. They say they want you to use it as your main account, which I won't be doing so I hope they won't close it.

If that's the same rules as Natpest then you'll need to make 3 debits a month during term time and 1 credit every 3 months or they will take it off you (so they say... and apparently they're quite strict)

Apparently, online transfers to/from yourself to external banks (i.e. me between Natpest and Halifax via BACS) do count

callum9999

Hi, I think the amount of credit I have compared to my income probably looks unreasonable to lenders at the moment so I'm looking to change some accounts around. At the moment I have;

Vanquis - £250
Capital One - £200
Flybe - £2000
Nationwide - £400
HSBC Student - £500

I need the two overdrafts as they are almost maxed out at the moment, but in February I'm hoping my interest free overdraft with HSBC will be increased to £1000, then I can get rid of Nationwide. I also have no use for Vanquis anymore so my main question is, would it be better to close it now or to leave it until next year so it carries on giving me the green zeros on my credit report.

(I have no intention of applying for anything else until next year at the earliest).

izools

Just as long as the Vanquis account as 12~18 months old before you close it, fine. Like I said in an earlier post close it sooner and it may look to some lenders that you're frivolous with your decisions to open accounts and some lenders may see this as you being an unprofitable, short term customer

callum9999

izools wrote: »

Just as long as the Vanquis account as 12~18 months old before you close it, fine. Like I said in an earlier post close it sooner and it may look to some lenders that you're frivolous with your decisions to open accounts and some lenders may see this as you being an unprofitable, short term customer

Thanks, I've had it around 15 months but I guess it won't hurt to just leave it then. Now I have a surprisingly high limit flybe card I can't see myself being tempted to ever use it again!

ElkyElky

Zack1 wrote: »

If that's the same rules as Natpest then you'll need to make 3 debits a month during term time and 1 credit every 3 months or they will take it off you (so they say... and apparently they're quite strict)

Apparently, online transfers to/from yourself to external banks (i.e. me between Natpest and Halifax via BACS) do count

Good good.

I've just opened it with a £500 overdraft. Well, I think I just opened it.. the page froze and wouldn't reload so I'm not sure.

The 3 debits per month, I can just set up some standing orders so I wouldn't have to worry about moving money around.

izools

ElkyElky wrote: »

Good good.

I've just opened it with a £500 overdraft. Well, I think I just opened it.. the page froze and wouldn't reload so I'm not sure.

The 3 debits per month, I can just set up some standing orders so I wouldn't have to worry about moving money around.

Keep in mind though that RBS / Natwest only to an Equifax search on application, once you sign and return the paperwork the AVU will do another credit search this time with Experian and might turn you down if they don't like what they see.

Hopefully you'll get it though, don't see why not. Good luck! :beer:

ElkyElky

izools wrote: »

Keep in mind though that RBS / Natwest only to an Equifax search on application, once you sign and return the paperwork the AVU will do another credit search this time with Experian and might turn you down if they don't like what they see.

Hopefully you'll get it though, don't see why not. Good luck! :beer:

I just re-applied and got to the end of the application this time. They approved me for the credit card with £500 limit also. Although once AVU do their checks, I doubt they'll like seeing the amount of searches I have.

I really wanted to stay with NatWest but since they are done for in Scotland, there would have been no point opening a student account with them. Although I can't move away from NatWest until my loan is paid, unless RBS gives me a loan to pay it off, which I doubt will happen anytime soon.

I have no intention on using the account, I have my HSBC and quite happy with it, but I'll make use of the free overdraft to make some money.

I shall pop down to Halifax first thing on Monday to close all of my accounts with them except the credit card.

Zack1

izools wrote: »

Have you considered Three for a full contract? I have an X10 with them, and it's been great. £35 a month for 2000 mins, unlimited texts & web, and 100 Picture messages. And the X10!

Bargain. And as I already had the SIM Zero they didn't credit search me, either Happy days!

The other networks that search Experian are Vodafone and Orange; although Orange have recently started searching Equifax from time to time...

I've looked but Three's signal is shocking round here I think, my mates on it and came to visit once and couldn't even phone me to say she was outside reception! Which was weird, but o2 is the only network that seems to work well! That's why I'm trying to force them into giving me a good deal... or I might go PAYG to giffgaff (100 mins, unlimited texts/net for £10), they use o2's signal. I only need SIM only either way because insurance replaced my phone twice so this one is new not 18 months old like it should be.... If I lose it then I'll take out a full contract to get a "free" new one!

ElkyElky wrote: »

Good good.

I've just opened it with a £500 overdraft. Well, I think I just opened it.. the page froze and wouldn't reload so I'm not sure.

The 3 debits per month, I can just set up some standing orders so I wouldn't have to worry about moving money around.

Yea, I was amazed that things to yourself count, thought they'd notice that, but apparently not.... I'm sure you'll be fine even with AVU, they seem to accept anyone for Student accounts!

ElkyElky

Zack1 wrote: »

Yea, I was amazed that things to yourself count, thought they'd notice that, but apparently not.... I'm sure you'll be fine even with AVU, they seem to accept anyone for Student accounts!

Yah I assume students accounts won't be as harshly scored. I actually don't know why I took their credit card - I have no need for it and it won't be used as much as my others as it doesn't have any rewards.