The Sub Prime Credit Thread - Part V

Scotty1.7

Guys

the Money Supermarket Credit Checker thingy, that does a soft check.

How good is it? It says I am good enough for a Cap One Progress card which looks a really good do-with the reducing rate etc.

I need to rebuild my history abit cause I have just sat and regulary paid my credit off, I only have 2 small loans now (about 1-2k each)

I'd like to apply for the cap one progress, for a back up but also for emergancies. Not bothered about big limits either.

Money Supermarket give me a 8/10 to get it- so is it worht applying?

System

stuartmck wrote: »

I closed my cap1 classic 4-5 months ago & still have access to equifax via their identity watch.

I closed my Capital One card account well over two years ago and I still have access to Equifax Identity Watch.

Maybe one day they'll realise and send me a bill!!

Regards
UNDERGROUND

Scotty1.7

So does anyone know if the Moneysupermarket soft search is any good indication wise?

tigerlily43

Scotty1.7 wrote: »

So does anyone know if the Moneysupermarket soft search is any good indication wise?

Not in my case, the only one I wasn't turned down for was Vanquis, I think its an indication but Cap one, Barclaycard Initial and Aqua may market themselves as sub prime but they aren't that easy to get. And I have no defaults, CCJs or late payments - just not on the electoral roll because I moved house in October.

So proceed with caution

tigerlily

Scotty1.7

Cheers tiger

I think i'm now on the electrol role- well i got a voting card for the 13th of January.

I have some credit, which i have never missed a payment on- but 0 credit/store cards.

I have a overdraft which i use breifly every month- but its the standard one with the bank account I have.

I have a mobile phone on contract, again, never gone over my minutes/net allowance so always been a fixed ammount.

I think my history is ok, certainly nothing I am aware of that could count against me at all.

I'll give it a shot- be my first credit application in almost 18 months i think.

tigerlily43

Scotty1.7 wrote: »

Cheers tiger

I think i'm now on the electrol role- well i got a voting card for the 13th of January.

I have some credit, which i have never missed a payment on- but 0 credit/store cards.

I have a overdraft which i use breifly every month- but its the standard one with the bank account I have.

I have a mobile phone on contract, again, never gone over my minutes/net allowance so always been a fixed ammount.

I think my history is ok, certainly nothing I am aware of that could count against me at all.

I'll give it a shot- be my first credit application in almost 18 months i think.

Does no harm to check out your history first - sometimes there are nasty surprises lurking that you don't know about

tigerlily

Scotty1.7

Well applied and it went stright through- blimey

Not sure on limit etc. but it said accepted and i signed the credit agreement

Just spoke to them- £500 starting limit.

Only need it for the what if and to chuck £10-20 a fuel on it when i need it.

Finally get to make my credit file brilliant again.

Although they do say you need a 'good record' to egt the card in the first place.

BugsyBrowne

Scotty1.7 wrote: »

Well applied and it went stright through- blimey

Not sure on limit etc. but it said accepted and i signed the credit agreement

Just spoke to them- £500 starting limit.

Only need it for the what if and to chuck £10-20 a fuel on it when i need it.

Finally get to make my credit file brilliant again.

Although they do say you need a 'good record' to egt the card in the first place.

Think you might be mistaken there mate if its the progress card you think you need to have a good record.
Cap 1 classic you need utter sh*t credit history
Cap1 progress you just need a sh*t credit history.

After reading your other post I would say you could of got a better card than the progress card which you will have to wait 3 years for a normal APR off them.

Scotty1.7

poss star-fire.

My problem was though that i wasn't on the electrol role for like 2 and abit years so i haven't been able to do anything credit wise.

So i would like to start off like this and work my way up to a better card.

Plus it is just a what if card

sorry i was looking at what there site said- it just said for good records?

BugsyBrowne

Scotty1.7 wrote: »

poss star-fire.

My problem was though that i wasn't on the electrol role for like 2 and abit years so i haven't been able to do anything credit wise.

So i would like to start off like this and work my way up to a better card.

Plus it is just a what if card

sorry i was looking at what there site said- it just said for good records?

I did not mean anything by it mate, just saying you have a loan,you have no miss payments,I know people on this forum who have defaults and late payments and still get one of sygma's 0% credit cards.

So might be worth thinking of one of the sygma range credit cards in the very near future where your limit will be higher than the progress,and you don't have to wait for a decent APR.