The Sub Prime Credit Thread - Part V

BugsyBrowne

Don't think you guys/gals are quite getting the hang of this B/C pre-app check, it clearly says on both of your checks that the card you are more likely to get out of all barclaycards is the B/C initial card.

So don't understand why your applying for a card that barclaycard as stated that you have a lesser chance of getting.(strange)

izools

Star Fire - I'm not interested in any sub prime cards. I don't have a credit card right now and the only time one would re-appear in my wallet is if it was something a bit special. Not having a credit card isn't adversely affecting my credit rating - quite the opposite - I have no potential liabilities credit card debt wise, and I have a Zopa loan keeping my payment history ticking along proving I can handle credit commitments.

Book12 - Congratulations on passing your probation! I found when applying for Simplicity though that they don't actually ask how long you've been in your job! So it wouldn't have mattered anyway lol never mind...

Barclaycard Always search Equifax, and Sometimes search Experian. They only search Experian if they don't have sufficient data to make a decision from Equifax - i.e. if they pull up a null file due to an address mismatch, or they don't see your ER registration, or none of your old addresses are linked, you have very little prior data, etc. Thankfully my Equifax file shows six years of flawless history managing a diverse array of credit cards with not a single missed or late payment in that time, let alone any record of defaults or BR - the address my adverse history is recorded at is only linked on my Experian report

Didn't say what sort of card the form was for, I called and asked and they couldn't tell me... so not going to bother with that.

BugsyBrowne

izools wrote: »

Star Fire - I'm not interested in any sub prime cards. I don't have a credit card right now and the only time one would re-appear in my wallet is if it was something a bit special. Not having a credit card isn't adversely affecting my credit rating - quite the opposite - I have no potential liabilities credit card debt wise, and I have a Zopa loan keeping my payment history ticking along proving I can handle credit commitments.

Book12 - Congratulations on passing your probation! I found when applying for Simplicity though that they don't actually ask how long you've been in your job! So it wouldn't have mattered anyway lol never mind...

Barclaycard Always search Equifax, and Sometimes search Experian. They only search Experian if they don't have sufficient data to make a decision from Equifax - i.e. if they pull up a null file due to an address mismatch, or they don't see your ER registration, or none of your old addresses are linked, you have very little prior data, etc. Thankfully my Equifax file shows six years of flawless history managing a diverse array of credit cards with not a single missed or late payment in that time, let alone any record of defaults or BR - the address my adverse history is recorded at is only linked on my Experian report

Didn't say what sort of card the form was for, I called and asked and they couldn't tell me... so not going to bother with that.

I appreciate that not wanting a sub-prime card, my point was and it don't take a genius to work out that when B/C assessed your credit report they thought the card most suited for you and the most likely card they would give you is the initial card.
When I do the pre-check the initial don't even appear on the screen, it just shows the platinum and gold, but already have the gold Mastercard..

izools

Ah does it? That's interesting!

I wouldn't say it's that they think Initial is the most appropriate - just that in your case - since you have 80-90% chance of approval for platinum - they can say you have a "Greater" chance of approval for Initial, as that would be 80-90%, too. (Their checker doesn't go up to 90-100%).

But fair comment - and clearly correct since they said no

If my appeal falls on deaf ears I'll just have to hope it gives me 80-90% chance of approval for Simplicity towards the end of the year

If not, meh. Won't take second best, I've no need or want for a credit card atall so don't see the point in settling.

mon1o

Thankyou izools I'm very pleased! Thanks for the info re having a classic and a progress after 6 months I didn't think capital one would allow you to have both.

Many thanks again x

Atom

izools would it not be best to get a subprime card for now and use it well for a year - i have found when you are a good payer in 1 type of credit you can get that type of credit usually no problem - it may not be the way it works but my OH has always had prime cards with low balances payed well for years and can't get a loan, my brother has always had loans and can't get a cc.

izools

Already have done mate, used a wide variety of credit cards for many years and my Equifax file shows that. And I have four active accounts - Virgin Media, Three Mbobile, Bank Account, and Loan keeping my credit file happy building even more positive history each month.

Just a waiting game. I'm sure I'll be successful later in the year

callum9999

star-fire wrote: »

I appreciate that not wanting a sub-prime card, my point was and it don't take a genius to work out that when B/C assessed your credit report they thought the card most suited for you and the most likely card they would give you is the initial card.
When I do the pre-check the initial don't even appear on the screen, it just shows the platinum and gold, but already have the gold Mastercard..

Obviously the most likely will be the initial - anyone with a grasp of the numbers between 0 and 100 could tell you that.

What exactly are you getting at? You should only ever apply for the card you're most likely to get? If that's the case maybe I should have stopped at Vanquis.

BugsyBrowne

callum9999 wrote: »

Obviously the most likely will be the initial - anyone with a grasp of the numbers between 0 and 100 could tell you that.

What exactly are you getting at? You should only ever apply for the card you're most likely to get? If that's the case maybe I should have stopped at Vanquis.

Listen Dippy its called a pre-app check which is based on how B/C see your report and then base this info on what card your most likely to be offered when applying.
izools proved this by applying for a card which was the more unlikely card with 70-80% chance of acceptance and got declined.

izools

Right but if I wanted crap cards that I'd never use due to their APR I'd just apply for Vanquis, Aqua, and Progress.

I'd much rather take a punt on a card worth having every three to six months until I get it and run the risk of being declined than regain my collection of sub prime cards that are nothing other than a waste of platic, wallet space, and available credit...