The Sub Prime Credit Thread - Part V

Russe11

yenool wrote: »

I was rejected for an aqua card and a standard bank account with crapwest this week. (I currently have a step account that has been open and running since 2002!).

I'm not sure of the reason why(apart from computer says yes), natwest say I can upgrade my account every time I go in branch now.

I did enquire what I stand to gain, visa card was mentioned, but I said its already a visa debit card I have anyway, the only other reason they have said is that i'll get a cheque book, my reply was who uses cheques any more, as I still have cheque books on other account that are still on cheque 001.

Would it benefit my credit rating in anyway to take the account upgrade?

BugsyBrowne

Kyresa wrote: »

So much for leaving for a year then :wall:

:money::beer::):T:easter_os:EasterBun:easter::easter_ba:search::icotbaske:sad::embarasse:cry::question::www::cool2::male::cheesy::lipsrseal:bdaycake:huh::starmod::staradmin:grinheart:blushing::kisses2::kisses3::kisses::heartsmil:iloveyou::heartpuls:heart2:happylove:smileyhea:lovethoug:happyhear:rudolf::xmastree::xmassign::snow_grin:snow_laug:santa2::drool::idea:_party_:question::wave::coffee::footie:_pale_:hello::grouphug::whistle::think::spam::eek::):A:(:cool::D:money::mad::o;)

yenool

Russe11 wrote: »

I'm not sure of the reason why(apart from computer says yes), natwest say I can upgrade my account every time I go in branch now.

I did enquire what I stand to gain, visa card was mentioned, but I said its already a visa debit card I have anyway, the only other reason they have said is that i'll get a cheque book, my reply was who uses cheques any more, as I still have cheque books on other account that are still on cheque 001.

Would it benefit my credit rating in anyway to take the account upgrade?

Hmm, you ask a good question actually. I just automatically assumed that having a full fat account would improve my rating, but maybe that isn't the case... maybe someone with more experience can answer.

Interestingly when I have been in branch or phoned them up to make a query they have tried to give me the hard sell on upgrading my account...... but I always said no as I figured if they reject me online why would they change their mind in person or over the phone? Plus it is more embarrasing to be rejected in person! lol

If I had a cheque book I reckon I might write one check a year max...... as you say, nobody takes cheque anymore.

Kyresa

Russe11 wrote: »

I'm not sure of the reason why(apart from computer says yes), natwest say I can upgrade my account every time I go in branch now.

I did enquire what I stand to gain, visa card was mentioned, but I said its already a visa debit card I have anyway, the only other reason they have said is that i'll get a cheque book, my reply was who uses cheques any more, as I still have cheque books on other account that are still on cheque 001.

Would it benefit my credit rating in anyway to take the account upgrade?

I use cheques every week to pay my son's nursery school fees, to pay for his school uniform (naturally can only get through the school) etc etc...

izools

Yenool / Russe11

It won't help your credit rating to have a current account instead of a basic outside of the bank. The accounts will report identically on your credit files and in fact going to a full account will hurt your score as the account will have been open for much less time demonstrating slight instability.

I would advise against opening / applying for a full account unless you will benefit from it - i.e. you would use (responsibly) a chequebook / overdraft, or you need an offline debit card for use on trains / Pay @ Pump petrol stations, and the like.

kilasuit

izools wrote: »

Yenool / Russe11

It won't help your credit rating to have a current account instead of a basic outside of the bank. The accounts will report identically on your credit files and in fact going to a full account will hurt your score as the account will have been open for much less time demonstrating slight instability.

I would advise against opening / applying for a full account unless you will benefit from it - i.e. you would use (responsibly) a chequebook / overdraft, or you need an offline debit card for use on trains / Pay @ Pump petrol stations, and the like.

theoretically speaking as it would be an upgrade i.e. same account number and sort code it shouldnt have any negative effect on any credit files as it shouldnt show any new accounts on the credit files


Shouldnts thou in the world of banking are normally the rule i.e. even thou it shouldnt happen it is almost guaranteed to be the outcome

ElkyElky

:grouphug:?

I thought this site was supposed to be PG. The one in the middle is even opening its mouth, while the others bend their knees to get closer..?

:eek: Horrified :eek:

Zack1

kilasuit wrote: »

theoretically speaking as it would be an upgrade i.e. same account number and sort code it shouldnt have any negative effect on any credit files as it shouldnt show any new accounts on the credit files


Shouldnts thou in the world of banking are normally the rule i.e. even thou it shouldnt happen it is almost guaranteed to be the outcome

Yep, Natpest upgraded my step accounts automatically when I got to 18, and they still say opened in 2002 & 2003, and one of them has since been upgraded to a student account too

Watalie

I have a Barclaycard Initial with a limit of £260. I've had the card for a few years now and they have never offered me a limit increase.

I also have a Cap 1 - £1,350 limit and a Vanquis with a £2,250 limit (increased regularly)

I don't know what I am doing so wrong for Barclaycard? I had one late payment in March 2009 and thats the only problem I've ever had with them?! I also pay it off every month.

I would like to apply for a normal Barclaycard but I don't think I can whilst I still have the Initial Card. If I close the account, how long will I have to wait before I apply for a normal one?

Thanks

izools

Watalie wrote: »

I have a Barclaycard Initial with a limit of £260. I've had the card for a few years now and they have never offered me a limit increase.

I also have a Cap 1 - £1,350 limit and a Vanquis with a £2,250 limit (increased regularly)

I don't know what I am doing so wrong for Barclaycard? I had one late payment in March 2009 and thats the only problem I've ever had with them?! I also pay it off every month.

I would like to apply for a normal Barclaycard but I don't think I can whilst I still have the Initial Card. If I close the account, how long will I have to wait before I apply for a normal one?

Thanks

You have to wait six months from the date of account closure before applying for a card of the same type.

You are however eligible to apply for the Breathe card as soon as you close the Initial account