The Sub Prime Credit Thread - Part V

BugsyBrowne

yenool wrote: »

I have had my two skanky cards for a year now (vanquis and crapital one) so I have a few green ticks going. I decided to apply online to upgrade my basic bank account to a full one......... it seems I passed the initial credit check (first check on my file in a year) as they sent out a form for me to sign and return - but who knows what may happen if/when they do a more detailed one when they get that form back!

I keep reading about Sygma being another subprime lender? What cards and typical limits do they offer and is it worth applying to them if you still have a default on your file? (but like I say, 1 year worth of green ticks from two cards, total credit limit approx 1050 with less than £100 being used at present)?

I am not sure if you even need a credit rating to be accepted for a sygma credit card, I just think if they hear you breathing on the other end of the phone then your passed their credit score.
If sygma turn you down I would hang up your boots and quit applying for any more credit.

izools

star-fire wrote: »

I am not sure if you even need a credit rating to be accepted for a sygma credit card, I just think if they hear you breathing on the other end of the phone then your passed their credit score.
If sygma turn you down I would hang up your boots and quit applying for any more credit.

C'mon they're a lot stricter than Cap One, Vanquis, and Aqua.

Just the laxest prime lender around. They declined me before approving me back along...

They won't readily accept applicants with outstanding defaults / CCJs or settled ones from the last three years (ish)

yenool

izools wrote: »

C'mon they're a lot stricter than Cap One, Vanquis, and Aqua.

Just the laxest prime lender around. They declined me before approving me back along...

They won't readily accept applicants with outstanding defaults / CCJs or settled ones from the last three years (ish)

In that case I think I will hang on for a bit until the 3 year mark; no point wasting searches.

Is AQUA worth a go maybe?

izools

Yeah Aqua definitely

yenool

izools wrote: »

Yeah Aqua definitely

They just rejected my instantly.

I guess I have a way to go yet.

I think I will start using my vanquis card more often and see if that prompts them to start allowing me to build up the limit.

I think it will probably take another year of green marks on the credit file before I can seriously apply for Sygma /mainstream lenders.

Hopefully my account upgrade will go through though (I didn't ask for an overdraft or anything).

ElkyElky

yenool wrote: »

They just rejected my instantly.

I guess I have a way to go yet.

I think I will start using my vanquis card more often and see if that prompts them to start allowing me to build up the limit.

I think it will probably take another year of green marks on the credit file before I can seriously apply for Sygma /mainstream lenders.

Hopefully my account upgrade will go through though (I didn't ask for an overdraft or anything).

Aqua declined me even after having main stream cards with 19% apr's. Aqua seems to decline a lot of people so I wouldn't take it personally, or even think your credit file is poop. They are definitely the more stricter of the sub-prime category.

paulmcerlean

Aqua would be the hardest to get sub prime card.

tigerlily44

ElkyElky wrote: »

Aqua declined me even after having main stream cards with 19% apr's. Aqua seems to decline a lot of people so I wouldn't take it personally, or even think your credit file is poop. They are definitely the more stricter of the sub-prime category.

Surely the whole point is that to be sub prime they are necessarily going to be more lax? Why charge the astronomical interest rates if they are trying to be mainstream?

tiger

tigerlily44

izools wrote: »

C'mon they're a lot stricter than Cap One, Vanquis, and Aqua.

Just the laxest prime lender around. They declined me before approving me back along...

They won't readily accept applicants with outstanding defaults / CCJs or settled ones from the last three years (ish)

Hi there

Out of curiosity, how long after your Sygma decline did they accept you?

thanks

tiger

izools

about six weeks. The difference was Equifax had agreed to remove some searches. It flagged up as a duplicate application on their system but I gave them a call and it went through