The Sub Prime Credit Thread - Part V

john1002

Looks like that as well as a very limited credit limit, if you have the card you will not get any credit limit increases as max credit limit is £100. But to be fair for some at least it will get them a row of nice green ticks, just not sure how easy it would be to use as a credit card with that limit.

john

Kyresa

john1002 wrote: »

Looks like that as well as a very limited credit limit, if you have the card you will not get any credit limit increases as max credit limit is £100. But to be fair for some at least it will get them a row of nice green ticks, just not sure how easy it would be to use as a credit card with that limit.

john

But, better value probably than the firstplus credit builder, in that you aren't paying £60 to get those ticks (as long as you clear the balance every month of course!!)

Hydromancer

john1002 wrote: »

Looks like that as well as a very limited credit limit, if you have the card you will not get any credit limit increases as max credit limit is £100. But to be fair for some at least it will get them a row of nice green ticks, just not sure how easy it would be to use as a credit card with that limit.

john

Apparently if you keep up with your repayments, they will increase your credit limit. Once your credit limit increase hits £500, they will 'upgrade' you to their standard Vanquis card.

http://www.vanquis.co.uk/alpha-faq

callum9999

Zack1 wrote: »

You could try appealing and send in something saying how long you've lived at your address, explain that the council are currently updating it etc? It should be done soon. I'm not listed as being on mine on my credit report (from 12th Dec), but I've been accepted for a load of cards so I assume I am

Just, surprisingly, been accepted for Flybe (I closed my old creation 6 months ago) - can they take that off me? AVU Style?

I was torn between Flybe and the Marriott Rewards one (0% one I wanted I'm not old enough for!), if I can actually get hold of the free flight (and there's not a million conditions attached) it may work out better to have that. Is there anything to stop me trying for the Marriott one now or would it be auto decline? I know there was debate about how long to wait last year but not sure of what the best outcome was regarded to be. I thought if it was declined you had to wait but if accepted I could go for another one now?

I'm 99% sure that when my pending limit increases go through (both Halifax & Aqua) and my report shows I've got 2 new cards I won't be getting anything for a while, so wanted to try sooner rather than later - then I could use whatever card suits me when they run promotions etc?

Don't count on it! I love to travel (took around 10 flights last year) and couldn't find a single viable flight. The only times I saw some reasonable options the charges and taxes on the 'free' flight were more than the all-inclusive fare on their website!

john1002

smart move by vanquis to tap into more custom, having now seen the FAQ it would seem that it will be a good way for others that cant get a normal vanquis to get on the ladder, DD and the starting credit limit mean it is a sensible way to go.

Of course there not stupid it would seem a good business model.

john

cookie~monster_5

Do Creation accept applicants with BR (from 2.5 years ago)?

I am considering the Marriott Rewards or Flybe.

I just want a second card to run alongside my Vanquis - purely to improve my credit history.

For some reason, Cap1 will not touch me - even though my Vanquis is over a year old, I'm on the ER, and generally tick all the other boxes... I was not even a offered a Secured Card!

Any advice would be great.

john1002

Cookie,

Im in same boat cap one just will not touch me and like you not even secured.

Think with creation you will have to leave it longer, may be 4 to 6 years and by then who knows what criteria they will look at, I know some people have been lucky but think that they have tightened up a bit, on there webiste it says you need a clean file, no CCJ,bankruptcy etc

john

Sam2009

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

Oh yes, I have learned my lesson on that one too!! Although my husband never left me, i kicked him out cause i didnt like his girlfriend But i think too many have been caught out like this. You think you are in a stable relationship with joint money etc ... but it doesnt take much for all that to go wrong and then you're left in such a mess its hard. I wont make that mistake again!

While I am sorry to see you back, its nice to have you around. I always really enjoyed reading your posts

Update on lil' old me

Vanquis increased credit limit to £2500
Aqua increased limit to £800
Capital One FINALLY gave me a credit increase from £200 - £950!
Next account limit is £2000

So thats my little lot Default and CCJ still sitting there from July/September 2007. Getting closer to them disappearing which is good

Editted to add - Sygma turned me down for a silver card Oct 2011 so for now im sitting on my hands not doing anything. I just wish the time would go quicker lol

Ricardo3

I've just started trying to build a decent credit rating after not having any form of credit whatsover.

In September, I got an Aqua card with a £350 limit which I have used for spending (payment paid in full), which they have just increased to £600. I also got a Sim-only contract with Vodafone, and Halifax have given me two £1k overdrafts on my Reward and Current Accounts.

I saw the Sygma threads on the forum and thought I'd apply for their All Saints card - to my surprise they accepted me with a £750 limit and 24.9% APR. Not amazing, but just goes to show that they can be very relaxed on applications. This is on top of having far too may credit checks on my file - must have a year of not applying for anything now!

Shortly before getting the All Saints card, I was refused for the bottom of the chain Capital One card, but they offered the secured card instead. Do you think it would be worthwhile getting it, or would my other credit accounts be sufficient to build a solid credit rating/history?

Thanks all.

callum9999

Does anyone know if getting a preliminary approval for a Tesco credit card with a £250 limit means anything? It said something along the lines of "if we approve you will get an APR of X% and a credit limit of £250" then after a few more stages said I need to wait 7-10 days.

£250 seems a really low limit for a card like that (not that I'd be complaining if it actually turns up!).