The Sub Prime Credit Thread - Part V

wayne99

helloooooo :j

Hope you are all well

I have a question regarding my wife...... Ha...

Right, were not quite sure what the next step should be with her credit..

over the last year we have managed to sort her Experian file out (100% clear)

her equifax has one default on file, which hits the three year mark in January 2011.

we both have a joint CCJ for £182 - which hits 4 years old in march 2011.

She has the following credit:

vodafone contract x 2
catalogue with fashion world (600 limit) open for 12 months now, no missed payments - balance 100 quid ish

Cap 1 card - 200 limit - balance 100 quid ish - open two months APR 34.9%
Aqua card - 250 limit - balance 50 quid ish - open 9 months. APR 34.9%
vanquis card - 1750 limit, balance 200 odd quid - open 13 months APR 34.9%
Provident loan - balance of 100 pounds or there about.
barclays basic account - (they wont upgrade her for some reason)

she has no missed payments on any of these accounts, but they are all under 13 months old.

Current address 2.5 years, in her job for 8 months, earns about 25k.

we tried for a flybee card about a month ago but got a straight decline.

when and where would you recommend she goes next ? Obviously these credit cards are great but the apr's are crap.

we were financially associated when she applied and my file is quite poop still, so iam guessing this would of caused the decline.

we are disassociated on experian and have been for about 5 months now.

equifax the online disassociation was done yesterday

Call credit, forms were posted off today, so in about a month or six weeks we should be completely disassociated.

I forgot to add, because of all the new credit she has got in the last year there are quite a few searches on file, so we dont want to do anything for around 6 months anyway.

any advice from you chaps would be fantastic

** forgot to add, the objtecive to be have prime credit, not this high APR sub prime stuff, obviously i know the default etc is not going to help.

Wayne.

BugsyBrowne

Wait another 3 years until the default drop off..

Until then she has 2 hopes on getting a mainstream card.

Zack1

izools wrote: »

Ah no that's 10% on "Promotional purchases" separate to standard purchase APR -

I'm yet to find any purchases that count as a "Promotional" one. I think it's if you take them up on certain offers they include with the monthly statements

Ah that explains why it didn't say "9 months from account opening" or whatever.... I won't use it anyway, but it seems a strange way to go about things!

I could be getting a nice little cash advance next week... using my entire Aqua limit to buy my mate computer stuff (she wants them delivered to mine, because reception/security will sign 24/7 and then I pick them up whenever and give them to her). And I've spent about £50 on Sgyma now... just another ~£100 to go before the statement is generated!

PARIS_5000

wayne99 wrote: »

helloooooo :j

Hope you are all well

I have a question regarding my wife...... Ha...

Right, were not quite sure what the next step should be with her credit..

over the last year we have managed to sort her Experian file out (100% clear)

her equifax has one default on file, which hits the three year mark in January 2011.

we both have a joint CCJ for £182 - which hits 4 years old in march 2011.

She has the following credit:

vodafone contract x 2
catalogue with fashion world (600 limit) open for 12 months now, no missed payments - balance 100 quid ish

Cap 1 card - 200 limit - balance 100 quid ish - open two months APR 34.9%
Aqua card - 250 limit - balance 50 quid ish - open 9 months. APR 34.9%
vanquis card - 1750 limit, balance 200 odd quid - open 13 months APR 34.9%
Provident loan - balance of 100 pounds or there about.
barclays basic account - (they wont upgrade her for some reason)

she has no missed payments on any of these accounts, but they are all under 13 months old.

Current address 2.5 years, in her job for 8 months, earns about 25k.

we tried for a flybee card about a month ago but got a straight decline.

when and where would you recommend she goes next ? Obviously these credit cards are great but the apr's are crap.

we were financially associated when she applied and my file is quite poop still, so iam guessing this would of caused the decline.

we are disassociated on experian and have been for about 5 months now.

equifax the online disassociation was done yesterday

Call credit, forms were posted off today, so in about a month or six weeks we should be completely disassociated.

I forgot to add, because of all the new credit she has got in the last year there are quite a few searches on file, so we dont want to do anything for around 6 months anyway.

any advice from you chaps would be fantastic

** forgot to add, the objtecive to be have prime credit, not this high APR sub prime stuff, obviously i know the default etc is not going to help.

Wayne.

It is going to be very hard to get mainstream credit for the next 6 years while she has a default on her credit file as well as a CCJ .

With regards to Aqua if you handle your account well they will raise your credit limit up automatically which is what they did with me and only had my card with them for 5 months. However I did not have any adverse on my credit file.

I had the same starter limit as your wife and my credit limit was increased from 250-500 pounds. As your wife had the card for 9 months I would have thought that they would have increased it by now.

As your wife credit is quite new I think that she should continued to manage this well for the next 6 - 12 months then maybe apply for the barclaycard inital.

onefortheroad_2

PARIS_5000 wrote:

;36289845
As your wife credit is quite new I think that she should continued to manage this well for the next 6 - 12 months then maybe apply for the barclaycard inital.

she wont get a intal card from barclaycard has you cant have a ccj in the last 5 years


An Initial Credit Card could be right for you, if:

• You have limited credit history
• You earn more than £10,000 a year
• You're on the electrol roll at your current address

An Initial Credit Card will not be suitable for you, if:

• You are not yet 18
• You have been declared bankrupt
• You have had a CCJ or IVA register against you in the last 5 years
• You are already a Barclaycard customer

PARIS_5000

onefortheroad wrote: »

she wont get a intal card from barclaycard has you cant have a ccj in the last 5 years


An Initial Credit Card could be right for you, if:

• You have limited credit history
• You earn more than £10,000 a year
• You're on the electrol roll at your current address

An Initial Credit Card will not be suitable for you, if:

• You are not yet 18
• You have been declared bankrupt
• You have had a CCJ or IVA register against you in the last 5 years
• You are already a Barclaycard customer

Okay sorry my mistake your right she cannot apply for the barclaycard intial.

wayne99

thanks for the replies, i know with some only the first three years are taken into account, but i believe that's only if no public information is on the file (CCJ) we expected this would be an issue to be fair.

i wish we were not so stubborn now with that CCJ and just paid it off before it got that far, but it was a dispute with a garage we were renting, we returned the keys to the housing association, they lost them, we couldn't prove we returned them, rent and new lock charges were sent to us, we refused to pay them, it went to court, we lost and hey presto a CCJ.

i was in hindsight a bit of an idiot and should of accepted that and paid it off in the 30 days, but i still stand by the fact we didn't owe a penny.

what's done is done, we will wait for about another 12 months and have a look about then.

regarding aqua, she did a limit increase request last month which was declined, they did not search any of the CRA's for this as no searches have been listed on her files for all three CRA's, so i guess its the CCJ that's holding that up.

PARIS_5000

wayne99 wrote: »

thanks for the replies, i know with some only the first three years are taken into account, but i believe that's only if no public information is on the file (CCJ) we expected this would be an issue to be fair.

i wish we were not so stubborn now with that CCJ and just paid it off before it got that far, but it was a dispute with a garage we were renting, we returned the keys to the housing association, they lost them, we couldn't prove we returned them, rent and new lock charges were sent to us, we refused to pay them, it went to court, we lost and hey presto a CCJ.

i was in hindsight a bit of an idiot and should of accepted that and paid it off in the 30 days, but i still stand by the fact we didn't owe a penny.

what's done is done, we will wait for about another 12 months and have a look about then.

regarding aqua, she did a limit increase request last month which was declined, they did not search any of the CRA's for this as no searches have been listed on her files for all three CRA's, so i guess its the CCJ that's holding that up.

I think its the CCJ that stoping her from getting a increase with Aqua and her default as well because its less than 3 years old.

callum9999

marilyna wrote: »

Are you going to find out what your behavioural score is then?

Yeah I will, I'll probably wait until my student loan goes in and the account is positive for a couple of months first though.

chexum

izools wrote: »

Ah no that's 10% on "Promotional purchases" separate to standard purchase APR -

I'm yet to find any purchases that count as a "Promotional" one. I think it's if you take them up on certain offers they include with the monthly statements

Cool! A voice kept telling me I got a 90 days 10% instead of a 90 days 0% purchases, but was too afraid to ask! :beer: