The Sub Prime Credit Thread - Part V

izools

I've heard people mention that about HSBC in particular, too, however it's only ever been a rumor and so far unsubstantiated.

What I do know for certain is that I make a few cash withdrawals every Friday night and have an above average HSBC account behavior score...

So it sounds like nothing more than a rumor?

chanz4

I cant see it lowering the internal score, its your cash

stclair

chanz4 wrote: »

I cant see it lowering the internal score, its your cash

I thought it increased the internal score.

However as Izools has said it might be just rumor.

exel1966

Cash withdrawals form credit cards have a negative impact on scoring. Maybe if they followed an excessive trend that might be the case, but generally I'm not so sure nowadays, however Years ago when cheque (cash) withdrawls were made over the counter, they were tracked/monitored using the grid on the back of the chequebook. I was told at the time by banking staff that excessive withdrawals did impact negatively on the account holder, but things have moved on quite dramatically since then.

callum9999

exel1966 wrote: »

Cash withdrawals form credit cards have a negative impact on scoring. Maybe if they followed an excessive trend that might be the case, but generally I'm not so sure nowadays, however Years ago when cheque (cash) withdrawls were made over the counter, they were tracked/monitored using the grid on the back of the chequebook. I was told at the time by banking staff that excessive withdrawals did impact negatively on the account holder, but things have moved on quite dramatically since then.

We are talking about debit cards.

Excessive cash withdrawals on credit cards can impact negatively yes - it shows a continual desperation for cash. Not the most stable financial situation!

kilasuit

the post you are refering to is over 2 years old however at the time this was backed up by evidence from a branch manager that this particular action would increase the account score due to them being able to see where you spend your money and then use that statistic to formulate business models for future and current products etc.


make sense?

Kyresa

Got an Aqua raise letter through the post this morning - from £300 to £550.. Used it twice in four months for approximately £30 each time.

My Cap One Progress was set at £200... so once they start to raise that one I'll ditch granite (especially as in 6 months the interest will be 7.5% lower than with granite!)

luke2008

Didn't realise Capital One are now offering secured cards aswell! My brother applied for a classic card online (Just gone 18, no history), application said we can't offer you one but we can give you a secured card with £99 deposit which we will refund after X amount of months

PROLIANT

Glad to see this thread is still going, well looks like am back for at least the next 6 years!

Word of advice:

Never, ever base your affordability on a partners income as it will land you in the shat when she/he leaves you.
18 months on since my ex left me and I cant even get a payday loan, how the mighty have fallen! LOL

izools

PROLIANT wrote: »

Glad to see this thread is still going, well looks like am back for at least the next 6 years!

Word of advice:

Never, ever base your affordability on a partners income as it will land you in the shat when she/he leaves you.
18 months on since my ex left me and I cant even get a payday loan, how the mighty have fallen! LOL

Indeed, but like I said in your other thread bit pat on the back for getting this far, and not caving in and just giving them the two finger salute with the old "So take me to court then, then you'll be getting even less each month".

Regards taking my OH's income and expenditure into account...

Lol, funny thing is if I did that I'd be able to afford less. He still aint no Alan Sugar with money.

Rather he is an Alan Sugar with money, but the pre-Amstrad Bankruptcy Alan Sugar

More of a Clive Sinclair.