The Sub Prime Credit Thread - Part V

telecomengineer

never-in-doubt wrote: »

do not apply online ring TB and see what they say - they will tell you if it will likely be accepted or declined mate. I wasn't asked if I wanted one either you know - but after a month I rung and said I wanted one applying, the system showed £500 available so I asked for that - they added it after a day!

Best of luck....

Does it involve a Full credit check? Or is it a Call Credit unrecorded?

never-in-doubt

telecomengineer wrote: »

Does it involve a Full credit check? Or is it a Call Credit unrecorded?

depends, as I say they may perform a full check but you ought to be going in with the line "I thought I asked for an o/d when I opened it in april and just realised it was not applied - can it be added now" - see what they say! They may wel lsearch you - but won't matter too much being they accpeted you for the account initially.... :beer:

never-in-doubt

sutton111 wrote: »

I see exactly what you mean. So after six months of behaviouring myself with them. They'll set a BH score. If that's only 56, for example, and I need 60+, will they do a full search then, or still do a soft search the call credit?

Thanks oracle!

No mate, within day 1 of account opening to day of 6month this builds a behaviour score - but until 6mths the branch cannot see it (cos its still calculating).... so in essence you do not have a score until 6mths.... now that score depends on how you run the account.

So say you run it perfectly and maintain high balances then your score will hit the 70's easily - mine was 74 after 6 months - so when you then go into branch for an account review, they should be able to tell you what is preagreed. If your score is say 55 then they'd say all you can have is XXX.

Make sense? If however you applied for the CC like tomorrow, a full credit check would be done. If you wait 6mth and go for an account review, they do one check there and then and the system generates values across all products, you can then select and have that product immediately.

So to summarise - you can apply for whatever you want whenever you want but without a b/score or if it is lower than the suggested score you will get a full search.

izools

never-in-doubt wrote: »

No mate, within day 1 of account opening to day of 6month this builds a behaviour score - but until 6mths the branch cannot see it (cos its still calculating).... so in essence you do not have a score until 6mths.... now that score depends on how you run the account.

So say you run it perfectly and maintain high balances then your score will hit the 70's easily - mine was 74 after 6 months - so when you then go into branch for an account review, they should be able to tell you what is preagreed. If your score is say 55 then they'd say all you can have is XXX.

Make sense? If however you applied for the CC like tomorrow, a full credit check would be done. If you wait 6mth and go for an account review, they do one check there and then and the system generates values across all products, you can then select and have that product immediately.

So to summarise - you can apply for whatever you want whenever you want but without a b/score or if it is lower than the suggested score you will get a full search.

What data on CC would throw out a pre-approved offer you reckon?

Satisfied public record information over three years old? Prolly

mattlfc79

sutton111 wrote: »

Matt there is one bank which upgrades still. That's Abbey. It's quite a long process. Try opening an Instant Plus account, it makes the route shorter.

I had an Abbey Basic account. After 6 months they upgraded me to a Instant Plus with a Visa Electron, 3 months later they upgraded it again to an Abbey account. To qualify for a Visa Debit you have to credit £500 PCM.

Though out this process I had NO credit searches undertaken, it was based on internal scoring only!!

HTH

Thanks Mate,
I will have a look.

What makes Abbey/ Santander so bad and would it be worth me just keeping my basic accounts for a couple more years if they are so poo?

Cheers!

noah271007

Hi everyone, thought i share my good news to you all.

Today i submitted an application for MBNA Bmi Amex CC but was referred and so i called MBNA underwriters who had a look at the application manually and asked several questions about my income and credit history. I was put on hold for 5 mins and came back and said they are going to approve my application for £4K CL and 16.9% APR. Naturally i am dead pleased.

Zack1

noah271007 wrote: »

Hi everyone, thought i share my good news to you all.

Today i submitted an application for MBNA Bmi Amex CC but was referred and so i called MBNA underwriters who had a look at the application manually and asked several questions about my income and credit history. I was put on hold for 5 mins and came back and said they are going to approve my application for £4K CL and 16.9% APR. Naturally i am dead pleased.

That's great news, well done!

I've got my Natwest code today (for card services). I requested a credit limit increase for a laugh to £500 (despite them saying they'd never give me anymore). It said we'll tell you instantly... then after about 10 seconds it came back basically saying no and phone them if I want to discuss it.... Was I credit searched for it externally or is it internal data? If it's internal data it's a shambles, I've been well good with those clowns... I'm thinking of saying goodbye to Natwest as soon as Vanquis gets here!

ElkyElky

Zack1 wrote: »

That's great news, well done!

I've got my Natwest code today (for card services). I requested a credit limit increase for a laugh to £500 (despite them saying they'd never give me anymore). It said we'll tell you instantly... then after about 10 seconds it came back basically saying no and phone them if I want to discuss it.... Was I credit searched for it externally or is it internal data? If it's internal data it's a shambles, I've been well good with those clowns... I'm thinking of saying goodbye to Natwest as soon as Vanquis gets here!

Nooo. Despite limits, the NatWest card will have much lower APR. You'd be a fool to ditch that in favour of the Vanquis. You should consider opening a full current account with another bank though, pay a generous amount of money in it each month and you'll qualify for their credit card in no time.

I went for the HSBC current account rather than their student account simply because I knew I could get more from them such as higher credit limits and such.

telecomengineer

never-in-doubt wrote: »

do not apply online ring TB and see what they say - they will tell you if it will likely be accepted or declined mate. I wasn't asked if I wanted one either you know - but after a month I rung and said I wanted one applying, the system showed £500 available so I asked for that - they added it after a day!

Best of luck....

Hi Mate

Further to your advice I rang HSBC telephone banking today.. asked the question "can you tell me if I am eligible for an overdraft" The guy said he had to confirm my details etc..he asked how much did I want? As the account was only opened 09/04/2010 I didn't want to push it so asked for £250....he put me on hold and come back on and said it had been agreed and would show straight away....

he then said the system is also showing you have been accepted for our credit card with a £1000 limit 0% 15 month balance transfer would you like this sir? Thought it would be rude not to accept...have to go in a branch and sign the agreement though is this standard procedure?

I was declined a Credit Card £500 limit when I opened the account so this kind of breaks the 6 month to re-apply rule?

Thanks for the advice N-I-D and it seems even after almost 3 months of good account conduct they have offered me credit facilities

Zack1

ElkyElky wrote: »

Nooo. Despite limits, the NatWest card will have much lower APR. You'd be a fool to ditch that in favour of the Vanquis. You should consider opening a full current account with another bank though, pay a generous amount of money in it each month and you'll qualify for their credit card in no time.

I went for the HSBC current account rather than their student account simply because I knew I could get more from them such as higher credit limits and such.

Yea I see what you mean, totally agree with that really. But I have a large amount of credit now, I'd rather Vanquis/Aqua pushing my limits up eventually, I'm never paying late etc so APR doesn't matter for me.

Yea the current account idea is good... I was rejected for student accounts last year though. Are they not scored easier than current accounts? So if I don't get them I won't get any? I suppose if I keep my file clean of searches for 6 months I might be able to try it... With 2 with Natpest, 4 credit cards & A&L I'm not hopeful without closing some of that down though...

I've got a full one with A&L at the moment though - it's the Premier U21 so don't know how good that is considered to be internally... I only got it for the 5% interest (which expires today actually), never realised it was a full account until a while back. Are they useful in terms of giving me a decent credit card if I decided to use my debit card with them more and paid money in etc? I've not had any offers from them so far