The Sub Prime Credit Thread - Part V

big_Daddy_Dave

15 searches in a year.

too much?

BugsyBrowne

big_Daddy_Dave wrote: »

15 searches in a year.

too much?

lol just a bit I think 3 in a year is sufficient.

izools

star-fire wrote: »

lol just a bit I think 3 in a year is sufficient.

3+ in any six month period is where is starts looking bad.

big_Daddy_Dave

oh my.............

izools

Indeed, it most creditors are of the opinion that three applications for something credit scored in a six month period is where the difference lies between someone applying as a result of a well thought out plan / informed decision, and someone applying for the sake of it just to try and get something "because they can".

PNPSUKNET

izools wrote: »

Indeed, it most creditors are of the opinion that three applications for something credit scored in a six month period is where the difference lies between someone applying as a result of a well thought out plan / informed decision, and someone applying for the sake of it just to try and get something "because they can".

thats me and you

big_Daddy_Dave

will definately stop until after summer now.

also, this may be weird, i dont know i havent come across anyone discussing it.

would it be OK to constantly move money between 2 acounts, Im talking like twice a day moving different amounts back and forth to make it seem as though there is more money being paid into the account?

becuase I've seen some accounts say you must play a certain amount (mine doesnt) but I'm just wondering if doing that would be of any use? or just pointless?

Zack1

IMO it is worth keeping it there rather than moving it instantly - the systems may only fully update overnight or weekly etc - so moving it within minutes/hours may have little effect. Yes it will track, but any calculations on your internal rating are probably done at a specified day/time (most likely when online banking goes down), maybe based on the cleared balance at that time.

Personally I keep quite a bit in my Halifax Reward account. I used to try to balance all 3 (that and my 2 Natwest ones) to get a better rating and so credit card. Natpest gave me a card, so now I stick it all in Halifax where I don't have a card (Natpest won't give me another or up my limit)

It seems to have worked - my guaranteed overdraft limit with Halifax was only a few hundred, then went up a bit, and is now 5k - they'd surely never give me based on a straight look at my credit report! Especially considering how I was declined for a Reward Current account a year ago, then accepted 6 months ago.

Waiting until the summer when I can boost the balances big time - no football or uni so may just take the mick and put every penny I have in there and then we will see what happens and if they fancy giving me the credit card - if they do then it's worked wonders!

Melmoneysaver

Hello, I'm after some advice if anyone can help, I'm trying to build my credit history back up after halifax have trashed it, ok maybe I trashed it I won't go into the long story but I have 6 3 payment late markers within the last year.

What I would like to know is will a sub prime credit card help me at all as I have a loan with 12 or so payments left which ive always paid on time, a mobile phone contract and a mortgage which again has always been paid on time, are these things enough to build up a good history again. I dont have a credit card anymore and wondered if it would help at all to get one and pay off in full each month, I know it can't hurt as long as I do, but do I really need it at all? I dont really need one financially but am just interested in becoming credit worthy again.

TIA

Kyresa

Perhaps try a Capital 1 , you'll likely get a £200 limit or so. Then at least if you do fall into the same pitfall again it won't be to the tune of thousands!