The Sub Prime Credit Thread - Part V

Zack1

ElkyElky wrote: »

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.

Haha yea you don't need it! I took mine because I needed the history! I would say I'm surprised they gave it to you considering your other credit and likely low utilization of the limit, but nothing surprises me with those lot!

Well I say I took mine, more like prayed I got it.... as when I applied I didn't realise they rammed them down people's throats!! 2 of my friends at uni say were forced to apply for it in branch, which really doesn't surprise me - I went in one day and they tried to make me sign up for it despite me saying I already had one!!


I know both my friends don't have any other credit at all, and don't use the card as they never wanted it! They don't really know what it is or does and see it as a bad thing because people get into debt etc. They know I want to do finance so asked me about it and I obviously tried to explain if used correctly it's like free money in simple terms, but obviously left them to it as I know they'd miss payments etc and they have no real need for it...

I just can't understand how they both didn't want it and were both forced to get it... then got the same limit as me! At the start that's understandable as we're almost equal (although I've been with them for 6 years), but Natpest flat out refused 2 requests to up my limit, without credit searching me, despite me paying on time and in full every month, and utilizing the credit! Clowns!

Oh and one of my friends has the impression her card is 'like an overdraft' - basically thinking she won't have to pay it back for years! Apparently she got that impression from the bloke in the branch who signed her up for it!! :eek: That is the main thing that really sickens me, she'd trash her credit rating and get loads of charges and interest if she had just gone out and spent the £350 thinking she never had to pay it back for years!

callum9999

Zack1 wrote: »

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!


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!

I know I said I wouldn't be applying for anything until next year only hours ago, but that has me tempted now! The overdraft would come in extremely useful until my loan comes through, plus there's the railcard...

ElkyElky - do you have a decent income? If not and you got accepted with all those other cards, then I guess I have a decent shot at it (HSBC don't like me at the moment as I basically drained the £500 overdraft back in January and its been at minus £500 ever since!).

Zack1

callum9999 wrote: »

I know I said I wouldn't be applying for anything until next year only hours ago, but that has me tempted now! The overdraft would come in extremely useful until my loan comes through, plus there's the railcard...

ElkyElky - do you have a decent income? If not and you got accepted with all those other cards, then I guess I have a decent shot at it (HSBC don't like me at the moment as I basically drained the £500 overdraft back in January and its been at minus £500 ever since!).

The fact you're using £500 overdraft really won't help you with any application, as overdrafts can be recalled at anytime so that's put into the affordability section of credit scoring - that's why I don't use mine.

Are you going into first year? You won't get the railcard if you're not I'm restarting, I was going to take the !!!! and apply everywhere to get all the first year benefits, but all the other accounts are useless!

I honestly think you've got a pretty high chance of being accepted if you don't have any adverse - I know people with no history at all, even at like 21, that have been accepted. The overdraft is the problem and will count against you, it's just the extent which it counts against you is the problem and nobody really knows... I'd still say it's well worth a shot tbh... just hope AVU like you whatever the computer says!!!

callum9999

Zack1 wrote: »

The fact you're using £500 overdraft really won't help you with any application, as overdrafts can be recalled at anytime so that's put into the affordability section of credit scoring - that's why I don't use mine.

Are you going into first year? You won't get the railcard if you're not I'm restarting, I was going to take the !!!! and apply everywhere to get all the first year benefits, but all the other accounts are useless!

I honestly think you've got a pretty high chance of being accepted if you don't have any adverse - I know people with no history at all, even at like 21, that have been accepted. The overdraft is the problem and will count against you, it's just the extent of which it counts against you... I'd still say it's well worth a shot tbh... just hope AVU like you whatever the computer says!!!

Yeah i'm going into first year.

Ah, if the overdraft is the problem I also have a £400 nationwide one which I'm using half of and once my credit card bills come through, will be using all of so it doesn't sound too good!

Zack1

callum9999 wrote: »

Yeah i'm going into first year.

Ah, if the overdraft is the problem I also have a £400 nationwide one which I'm using half of and once my credit card bills come through, will be using all of so it doesn't sound too good!

Ah... £900+ on overdrafts doesn't sound too good, ah well give it a go anyway, worth a shot for the railcard!

callum9999

Zack1 wrote: »

Ah... £900+ on overdrafts doesn't sound too good, ah well give it a go anyway, worth a shot for the railcard!

Yeah I might as well I guess. Do you know if they do instant approvals online (excluding that AVU department)? Otherwise I'll just wait until after the bank holiday.

Zack1

callum9999 wrote: »

Yeah I might as well I guess. Do you know if they do instant approvals online (excluding that AVU department)? Otherwise I'll just wait until after the bank holiday.

Yep, I was accepted online instantly. They close it down whenever the people doing the decision making aren't working, so if the application is online still now you've got a chance

Then you go for AVU approval....

ElkyElky

callum9999 wrote: »

ElkyElky - do you have a decent income? If not and you got accepted with all those other cards, then I guess I have a decent shot at it (HSBC don't like me at the moment as I basically drained the £500 overdraft back in January and its been at minus £500 ever since!).

At this present time, I don't have much of an income. I can safely say I have more credit available to me than I have income. My student loan payments however, will be starting next month.

I've been quite lucky in obtaining my credit cards, albeit with small limits. I have savings with my various banks and I like to believe that could have played a part in them giving me a card, who knows.

callum9999

Zack1 wrote: »

Yep, I was accepted online instantly. They close it down whenever the people doing the decision making aren't working, so if the application is online still now you've got a chance

Then you go for AVU approval....

Thanks, are you sure they remove the application form when they aren't there? It is still up but I would have thought they would be closed by now.

callum9999

It seems to have gone through - it offered me an overdraft of £500 half way through the application process which was a bit confusing, couldn't tell whether that was a yes (for now anyway) or a standard thing. I assume specifying £500 when it says up to £1000 at the beginning implies it was personalised for me, but the only financial info they had at that point was I have 3 credit cards.

Guess I'll just have to wait and see, but I won't get my hopes up!