The Sub Prime Credit Thread - Part V

ALIBOBSY

Finally spoke to vanquis this morning, I have been approved but the credit available will be in the welcome pack.

ali x

izools

Flickering_Ember wrote: »

I don't have a home address; I'm 25 and have been living more than 200 miles from "home" for years now. So sadly I don't have that option.

Unfortunately creditors aren't concerned why you move around regularly, just that you do. I'm with Elky on not adding a NOC to your credit file, can do more damage than it prevents.

As far as creditors are concerned moving around is a sign of instability, and most importantly a sign of a frequent upset to your finances.

Someone who doesn't move often will have none of the surprise expenses involved when one moves, and will be comfortable with how much their current residence costs.

As such, whether or not it's because you're a student, you will pose a higher risk until you settle down.

Sorry to say it, but that's just the way it is

ThinkingOfLinking

Thanks for your answer.

I would re-register at my old address; my dad wouldn't mind that, but there's defaults registered against me at that address, despite it not being my fault; these are accounts which aren't mine and which are being dealt with via notes of correction, having sent off those useful "prove it" letters to relevant companies; some of which I don't even know who they're for as the collection agencies don't always specify.

sephrenia

Brian1966 wrote: »

Congratulations :beer:
Drinks on you then I take it?
You can buy the chocolate too

Heh, I just bought this weeks shopping on it and then I'm going to clear it on thursday even though I only spent £40 on it. After reading all the threads on it, clearing it seems the best way.


Do you think I should go up close to the balance or just use bits and pieces before clearing it off?

And anyway, I thought you were trying to seduce me? If you were then you should be buying the choccy!

Brian1966

sephrenia wrote: »

Heh, I just bought this weeks shopping on it and then I'm going to clear it on thursday even though I only spent £40 on it. After reading all the threads on it, clearing it seems the best way.


Do you think I should go up close to the balance or just use bits and pieces before clearing it off?

And anyway, I thought you were trying to seduce me? If you were then you should be buying the choccy!

Hi, personally I would spend at least 50% of your available credit possibly a little moore then clear it off when you receive the statement. Nothing to stop you making ad-hoc purchases too and clearing immediately.
Regarding the choccy you drive a hard bargain but I'm smitten so you win I will get Champagne too, you buy some strawberries, not forgetting the squirty cream :p

BugsyBrowne

Did not realize hsbc ran capital one credit cards..

stephane_2

star-fire wrote: »

Did not realize hsbc ran capital one credit cards..

Capital one credit card is not part of HSBC but Citigroup

edinburgher

Finally managed to get the DCA to update my credit report to show that I settled my only defaulted account in March! Now that I've managed to tidy up the only really negative aspect of my credit history, I'm starting to think about what's next with repairing my credit history?

I'm currently paying my second year on Cashplus Credit Builder, I've moved up to a £10/mth tariff with 3 after using them for four months and I've also been with Capital One for four months now (£200 limit).

My address history is *awful* (think eleven moves in ten years!) I moved about loads as a student and also worked in Glasgow, Edinburgh and London before coming back to Glasgow. Also, I'm due to move again In fairness, it is out of my GF's parents' place into a new rented place and there wasn't any other way to do it. So, applying for credit in the next six months or so probably isn't the best idea...

Planning on applying for a full Natwest account at Christmas time, as I pay £1500/mth into my Step account, have DDs with them and also save with them (not sure if this counts for internal scoring?)

What credit card might be sensible to apply for next? Vanquis don't seem to like me as Equifax have very patchy details for me. I don't have a sense of entitlement about credit, but I am keen to move back up the ladder. It's a little awkward trying to order engagement rings etc. when you want the security of a credit card (I can afford to buy the ring outright), but need to ask the in-laws to help out!

izools

stephane wrote: »

Capital one credit card is not part of HSBC but Citigroup

Capital one aren't part of anyone. They are their own outfit

izools

edinburgher wrote: »

Finally managed to get the DCA to update my credit report to show that I settled my only defaulted account in March! Now that I've managed to tidy up the only really negative aspect of my credit history, I'm starting to think about what's next with repairing my credit history?

I'm currently paying my second year on Cashplus Credit Builder, I've moved up to a £10/mth tariff with 3 after using them for four months and I've also been with Capital One for four months now (£200 limit).

My address history is *awful* (think eleven moves in ten years!) I moved about loads as a student and also worked in Glasgow, Edinburgh and London before coming back to Glasgow. Also, I'm due to move again In fairness, it is out of my GF's parents' place into a new rented place and there wasn't any other way to do it. So, applying for credit in the next six months or so probably isn't the best idea...

Planning on applying for a full Natwest account at Christmas time, as I pay £1500/mth into my Step account, have DDs with them and also save with them (not sure if this counts for internal scoring?)

What credit card might be sensible to apply for next? Vanquis don't seem to like me as Equifax have very patchy details for me. I don't have a sense of entitlement about credit, but I am keen to move back up the ladder. It's a little awkward trying to order engagement rings etc. when you want the security of a credit card (I can afford to buy the ring outright), but need to ask the in-laws to help out!

To be honest, I don't think you need to do anything else atall. Just leave three and capital one running, maintaining the status quo, and you should be hot to trot come December getting the Natwest a/c, assuming you've successfully appeared on the electoral role at your new address.

Too many new accounts in too shorter space of time can look bad