The Sub Prime Credit Thread - Part V

chexum

Zack1 wrote: »

"One rate" now exists, don't know if that's new or has replaced one card.

The one missing was the Plus, but OneRate is very different. Plus was 19.9%-29.9%, credit limit £500-5,000, with a 0% period.

OneRate is 9.9% APR, £4,000-£11,000, no 0% period, has strict requirements, not even recent missed payments.

It looks like the Classic is less marked now, do Capital One wants to shed the sub-prime image? The classic/progress minimum initial limit were increased from £100 to £200 in mid-August.

Zack1

star-fire wrote: »

What idiot would want to wait 3 years for an apr to shrink to 17.9%,if you keep your payments up to date and keep applications to a minimal,give it 18 months and you would be eligible for a better card than cap 1 with maybe very good promotional rates as well.

Exactly, if I was to reapply I'd just go for Classic and hope for a credit limit at the higher end of the scale (max for that is 1.5k). Even my Natwest card was 18.9% APR when I started I believe, this new card seems like a total rip off to me! I guess it's something for someone that's already got a large balance on something like Vanquis and is being declined for special offer cards or any LOB ones, but I'd hope within 18 months to 2 years they find another card! Certainly within the 3....

chexum wrote: »

The one missing was the Plus, but OneRate is very different. Plus was 19.9%-29.9%, credit limit £500-5,000, with a 0% period.

OneRate is 9.9% APR, £4,000-£11,000, no 0% period, has strict requirements, not even recent missed payments.

It looks like the Classic is less marked now, do Capital One wants to shed the sub-prime image? The classic/progress minimum initial limit were increased from £100 to £200 in mid-August.

Yep looks that way, seems very strict for me! And as the progress one now starts at a lower APR I bet it's harder to get than it was when I got it...

They just replied to my message saying I must close the account and wait 6 months, leaving it unused does not class it as inactive... I'm thinking of cutting up the card. My statement comes on 19th, so I can pay this bill in the middle of next month, and if my limit still hasn't increased by 19th Oct on a further statement then I can close it.... If it has I'll request a replacement card :rotfl: Could do with one anyway....

Anyone know the situation with bank accounts? My bank accounts have start dates of 2003 & 2004, when I had kids accounts with Natpest, but only started reporting to CRAs when they were automatically upgraded to current accounts at 18 (16 months ago)... so will anyone searching my file consider it as accounts running since 2003/4 or accounts since I was 18? 2003/4 would make me look a lot better in terms of stability! I assume they'd see both bits of information, just don't know which they'd be interested in... I'm guessing the 16 months that I've got credit history for On all the application forms that ask for it I put 6 years+ for the question... but I think that really cares about full accounts, not the 5+ I spent as a step/adapt account!

izools

Zack1 wrote: »

I'm thinking of cutting up the card. My statement comes on 19th, so I can pay this bill in the middle of next month, and if my limit still hasn't increased by 19th Oct on a further statement then I can close it....

How long have you had it? I'd strongly advise against closing any accounts before they're 12~18 months old as lots of short-lived accounts can affect your score adversely - some creditors will see you as being frivolous with your applications and accounts and are likely do decline you (especially MBNA) as they'll view you as an unprofitable, short-term customer.

Zack1

izools wrote: »

How long have you had it? I'd strongly advise against closing any accounts before they're 12~18 months old as lots of short-lived accounts can affect your score adversely - some creditors will see you as being frivolous with your applications and accounts and are likely do decline you (especially MBNA) as they'll view you as an unprofitable, short-term customer.

MBNA's reply to my appeal seemed personal, and they as good as said they won't take me until I'm in full time employment. So I haven't even bothered applying for them. By the time I'm in employment my other accounts would be years old. I'm hoping they'll all see sense about o2 - contracts are commonly 12/18 months and it's standard to move for a new deal, especially as retentions deals are so shocking nowadays. So the airtime contract only being 18 months hopefully won't make a big deal. I've had Cap1 since November 2009...

Problem is, assuming Aqua increase my limit to ~£250, that's £950+ available at the time of my next applications - about £400 more than i've ever had available at any previous application, and with the lower amount of available credit I was always treated as borderline! Aqua is my main card now it's gone up, and JJB to get some internal history with Sygma, so unless my big TV, laptop and mobile all break within the same billing period I've got no intention of using Cap1... Having all that credit I'm not using (looks like I wont be maxing out Aqua either, so that's another 200 or so added to Cap1's 200) is surely a bad thing?

Just realised I've got the Premier U21 with Alliance/Santander, that should be about 13 months now

Does uploading £450 onto Paypal count as a cash advance? I was planning on uploading what's left of my Aqua limit and sticking it into Bwin... don't know if it would work though!

onefortheroad_2

just got a email off capone about eXtras


https://www.myvisaoffers.com/capitaloneextras

Zack1

onefortheroad wrote: »

just got a email off capone about eXtras


https://www.myvisaoffers.com/capitaloneextras

I've still got Mastercard... Actually because I don't like Visa!

I'm in though... know the Cap1 Visa BIN :rotfl:

477596

3 days fitness first for you & a friend seems pretty decent. Nothing on there I'd really use though, none of my uni books are in Waterstones

onefortheroad_2

Zack1 wrote: »

Does uploading £450 onto Paypal count as a cash advance? I was planning on uploading what's left of my Aqua limit and sticking it into Bwin... don't know if it would work though!

no it dont count as a cash advance does bwin take payment from paypal

Zack1

onefortheroad wrote: »

no it dont count as a cash advance does bwin take payment from paypal

I might give it a go with Capital One as I won't be using it!

Yea they take paypal up to £300, but I'm a gold member (woooooooooooo ) so I'm allowed more

brians_daughter

well, after 2 months of arguing with vanqquis re a late payment marker something wierd has happened!

The story behind it is....I paid 1 day early for may - i was told by a rep that i could pay on x date, which i did but my statement wasnt produced til the day after, i went away on holiday thinking i had paid my payment and 3 weeks later when i got back i opened my mail to see that the payment had been allocated to the previous months balance..anyway they listened to the calls and have removed the late payment marker for may, and also a previous one i had last year from when i was in hospital (with equifax) but on experien the late payment marker from last year still stands....

so looking at my report now i have 15 accounts showing, some settled and some not the 'only' adverse data i have on there are 2 things from mbna (AP and late payments), i had an arrangement to pay that ended badly - due to my own fault really. i called them to tell them i wanted to resume normal payments (to try and re build my credit history) and i didnt get a statement for 2 months , so due to me not realising i went 2 months in arrears with them..gggrrr. I also have a late payment relating to a next account that was in march 2007 ~(hoping that wont count much!)

The MBNA thing was sorted over 12 months ago and showing its all green 0's for the past 14 months.

I imagine i still wouldnt get any mainstream cards with decent offers for a while yet, but i applied for sygma in march/april so does anyone think its worth applying once the 6 months are up?

onefortheroad_2

what.s up with jacamo i order a tv now they want £84 upfront i only £2000 limit so im off to kays to get a new tv