The Sub Prime Credit Thread - Part V

BugsyBrowne

PROLIANT wrote: »

Interesting, got bored last week and applied for a Capital One progress card, was accepted instantly online even though I closed my Class Visa only back in Feb this year.

Rang up and was told even though accepted has gone to underwriting and will hear in 7-10 days if accepted?

Anyway, a pin number landed on my door mat yesterday for a capital one card, so I phoned them up and asked about the card and limit, I was told that it was a World Mastercard with £100 limit?

Confused.com:doh:

Capital one world mastercard is a very good card..

PROLIANT

seeya23 wrote: »

just wait till you get your card mate see what limit you get

£100:cool:

izools

What on earth are Capital One playing at with their bizzaire credit scoring and limit allocation?

First I read a thread about someone who has been declined for the Classic then subsequently approved for the Progress in the same three month stretch, then a World mastercard with a £100 limit!?

I can't see how they can be giving their shareholders a remotely respectable return.

mattlfc79

Hi people,

Just wondering do any of the banks that offer basic accounts upgrade to proper current accounts based on account conduct alone or do they all review your credit file first? Is any bank 'more generous' with there tolerance towards sub primeoids like myself with a 4 yr old ccj?

I have a nat pest, barclays and co-op basic accounts all used for different reasons. Barclays is my main account but they dont seem to want to upgrade me even though they said my account is run well. Would it be worth switching where my pay goes too?

Thanks

izools

mattlfc79 wrote: »

Hi people,

Just wondering do any of the banks that offer basic accounts upgrade to proper current accounts based on account conduct alone or do they all review your credit file first? Is any bank 'more generous' with there tolerance towards sub primeoids like myself with a 4 yr old ccj?

I have a nat pest, barclays and co-op basic accounts all used for different reasons. Barclays is my main account but they dont seem to want to upgrade me even though they said my account is run well. Would it be worth switching where my pay goes too?

Thanks

No bank offer basic accounts that can be "Upgraded" to a full current account. All current accounts are fully credit scored.

If your CCJ is settled, and it is the only adverse information on your credit file, you don't owe too much, and are in a stable position (long time at address, with employer, on electoral role, etc) then you shouldn't have much trouble getting a full current account anyway.

Lloyds TSB approved me for a full current account two years after Bankruptcy (one year after discharge)

never-in-doubt

mattlfc79 wrote: »

Hi people,

Just wondering do any of the banks that offer basic accounts upgrade to proper current accounts based on account conduct alone or do they all review your credit file first? Is any bank 'more generous' with there tolerance towards sub primeoids like myself with a 4 yr old ccj?

I have a nat pest, barclays and co-op basic accounts all used for different reasons. Barclays is my main account but they dont seem to want to upgrade me even though they said my account is run well. Would it be worth switching where my pay goes too?

Thanks

Basic accounts are not usually credit scored for credit, but instead for risk and so upgrades is not allowed, usually they ask you to apply for a full account. Also, basic accounts give no behavioural scoring - they cannot, cos it is not scored in that way.

If you're with Barclays then consider going in and asking them if you can have a full account after a few months of using basic facilities. Don't ask for an upgrade, they cannot do this - no bank can!

....

mattlfc79

Ah I have never had the ccj marked satisfied even though it is paid! Does it make that much difference, never wanted to pay the £15 fee lol

Thanks!

never-in-doubt

mattlfc79 wrote: »

Ah I have never had the ccj marked satisfied even though it is paid! Does it make that much difference, never wanted to pay the £15 fee lol

Thanks!

Yep - you need to get writing to the court that issued the CCJ and get the certificate of satisfaction from them....

mattlfc79

Thanks people.

I have even found the form to request satisfaction! Form N441 http://www.hmcourts-service.gov.uk/courtfinder/forms/n441_0406.pdf

That was well clever lol!

PROLIANT

seeya23 wrote: »

i mean the limit it.s say with the letter that comes with your card

Oh right, have to wait until card arrives.