The Sub Prime Credit Thread - Part V

savagej

Zack1 wrote: »

They have to have one under the Data Protection Act, as the credit scoring is automated and under DPA there is a right to request a manual review of automated decisions. They don't actually tell you that though - I got the standard "keep your account in order" rubbish... what have I been doing for the last 20 months then!? :mad:

The address for it is different from the normal one however. So they probably just employ someone for that dept to comply with DPA rules - and the person just continually sends no letters......

Afterall, they won't want to be seen to be accepting too many manual appeals - that's an admission that their scoring models are not right.

Will have to wait and see what they reply with, just printed it and 3 pages of my SFE offer later - might give them a summary of my bank account too

Any news back from Capital One, I sent them a secure message on-line a while back and they phoned and gave me the address to write to but I have lost it. They also gave me a number I could fax the request to, think the guys name was Eddie. Do you still have the address by any chance?

Thanks

James

Zack1

Funny, I was just coming on here to write about them!!

I have got a letter today (haven't checked my mail for a while to be fair) - they couldn't review my limit as they say I didn't sign my letter (I swear I did, but was doing so much at once that day so must have forgotten! Very surprised if I did). They say sorry for the inconvenience but it's for security of my account & details etc - however it also said to write again, and included a pre-paid envelope!!

So I'm just editing and re-printing my letter, making sure I sign it (!) and sending it off tomorrow, but proves it is possible to get one. Whether they will give me one or not is a different matter - especially as I applied for a Halifax card the other day (would rather have that than Cap1 or Sygma) and a iPad contract!

The address I original wrote to is different to the one on the envelope that they have included. The one on their envelope is:

Capital One
PO Box 9767
Nottingham
NG2 9HZ

Good luck!

savagej

Cheers, when I sent the secure message I said I was giving them the authority to carry out an enquires they so wished in relation to my request for a manual review but they phone to say they needed it in writing with my signature. So it is consistent with their policy and an easy oversight.

Will send them a letter and see what comes back as mine is £200 and every other card I have is in thousands, dont know if that will go in my favour or against me. Probably be told I would be over indebted if they increased it know my luck lately. That what the Co-op keep telling me, and I think the information is coming from an Experian Analytics probability score!

Anywho will go off and write my letter too. Will let you know what they say.

James

Zack1

How long have you held your account? Mine was opened in Oct 2009, can't believe I haven't had an increase yet! Given my recent searches they probably won't give me one either now! Barclaycard are supposed to be writing to me in 7 days, but that was over a week ago. Halifax phoned me and wanted more information - made sure they wrote down I was studying Accountancy Said they've write to me in the next few days. Nothing has appeared on online banking though - when my Reward Account was referred and accepted it showed up in "my accounts" online.

Anyone else got a Halifax card? Do they show up in online banking automatically? If they don't there is still hope for me, but I'd be very surprised if they accept me... Annoying, seeing as I could take my 5 grand overdraft out of my Reward Current Account and blow that if I was desperate for money :mad::mad::mad:

Kyresa

Well I got a letter in the post today to say my Cap 1 is being increased from £200 to £800! I've only ever used the card twice (highest amount £77). Pay in full by Direct Debit when there is a balance.

In 6 months I'll try and move to their lower interest rate card!

Zack1

Those lot are odd... Fair play to you though!! Nice increase!

I don't understand it at all - I used it a lot (not so much now I've got a decent limit from Aqua), got them a stack of money from merchants fees, proved for 20 months I can pay on time and get no increase... yet someone uses it twice to not 50% of the limit and gets a massive increase... it really is like playing roulette with them!! I've read many other stories along the same lines as yours too - yet many that use it a lot get nothing... maybe it's their form of retention - stick your limit up and you'll stay and might miss a payment or two (£££)???

Kyresa

Zack1 wrote: »

Those lot are odd... Fair play to you though!! Nice increase!

I don't understand it at all - I used it a lot (not so much now I've got a decent limit from Aqua), got them a stack of money from merchants fees, proved for 20 months I can pay on time and get no increase... yet someone uses it twice to not 50% of the limit and gets a massive increase... it really is like playing roulette with them!! I've read many other stories along the same lines as yours too - yet many that use it a lot get nothing... maybe it's their form of retention - stick your limit up and you'll stay and might miss a payment or two (£££)???

My Granite, which I've had for longer, started at £500, I use it every month to at least £100, pay off full by DD every month, and yet no increase on that!

As you say.... I've no clue how they work this stuff out!!

MoneyWasting_Expert

I have my Cap1 Classic arriving shortly, got the pin yesterday with a letter saying the card is on its way. Eager to see what the Credit Limit is expecting min 200 but you never know. Agreement states 0% interest until October so I will keep you all posted on what they give me. Despite all defaults and so on, this will be the first CC opened since June 2008 which was a Barclaycard Platnium that actually got cleared in May 2011. Man 3 years never hoped to had been in debt that long. Original balace transfer, short lived, lost job promotion ended along with my repayments :rotfl:You can actually laugh looking back on thee things when you pull through.

MoneyWasting_Expert

One other thing, has anyone ever had a Cap1 card, and found Cap1 offering superior products later on?

savagej

Zack1 wrote: »

How long have you held your account? Mine was opened in Oct 2009, can't believe I haven't had an increase yet! Given my recent searches they probably won't give me one either now! Barclaycard are supposed to be writing to me in 7 days, but that was over a week ago. Halifax phoned me and wanted more information - made sure they wrote down I was studying Accountancy Said they've write to me in the next few days. Nothing has appeared on online banking though - when my Reward Account was referred and accepted it showed up in "my accounts" online.

Anyone else got a Halifax card? Do they show up in online banking automatically? If they don't there is still hope for me, but I'd be very surprised if they accept me... Annoying, seeing as I could take my 5 grand overdraft out of my Reward Current Account and blow that if I was desperate for money :mad::mad::mad:

Sorry no idea about the Halifax thing, I do know that with the Co-op it is not until the card is activated that it shows on internet banking. You could call up and ask I suppose.

I have had the Cap1 card for about a year it is the progress card too, so the APR is falling, in each letter I got to tell me this it said as I had not used the card I was not eligible for a credit limit increase. But I was using the card so I queired it over the phone but it was their indian call centre I got and was a waste of time as the woman I spoke to did not understand what I was try to say. I got a better response using the on-line secure messaging service.

They do constantly batter out the same line of we dont do credit limit increase on request we will tell you when you become eligible, which for many seems to be never and for others is within a few months. The whole scoring model seems to be a complete enigma.

James