The Sub Prime Credit Thread - Part V

costaerer

Nope.
Got a letter from cap1 today. Have the progress card since 04/10 with a £300 limit, they are doing the standard apr reduction to 29.9% buy can't increase my limit because I haven't activated the card yet! Lol

hennerz

I've got another 2 months left before I finish University and currently have no credit what so ever. I have two credit accounts according to my Free Search I just did using the MSE loophole check - everything else reads 0 so I am in pretty good stead. I've also been living at my parents house for 19 years or so and am on the electoral roll.

I have had an HSBC current account for over 3 years - before it was a young saver account I think. I also have 2 HSBC savings accounts. In total these have ~£6k in them.

I also have a co-op savings account which is empty and a Post Office Savings account which has ~£2k in it.

I really just want a credit card to improve my ability to get credit in the future. I will just use it for online purchases and pay it off monthly via direct debit.

However I am currently unemployed/student and I'm not getting a job for 12 months soonest because I plan on going travelling ~November.

Is it worth applying for cards in my position or will I just get declined? I'd be happy with something small and just working my way up... Any recommendations please?

costaerer

Can you apply for a student/graduate card with your bank? That might be your best bet as they can see your incomings and outgoings. If not try vanquis or capital one.

izools

hennerz wrote: »

I've got another 2 months left before I finish University and currently have no credit what so ever. I have two credit accounts according to my Free Search I just did using the MSE loophole check - everything else reads 0 so I am in pretty good stead. I've also been living at my parents house for 19 years or so and am on the electoral roll.

I have had an HSBC current account for over 3 years - before it was a young saver account I think. I also have 2 HSBC savings accounts. In total these have ~£6k in them.

I also have a co-op savings account which is empty and a Post Office Savings account which has ~£2k in it.

I really just want a credit card to improve my ability to get credit in the future. I will just use it for online purchases and pay it off monthly via direct debit.

However I am currently unemployed/student and I'm not getting a job for 12 months soonest because I plan on going travelling ~November.

Is it worth applying for cards in my position or will I just get declined? I'd be happy with something small and just working my way up... Any recommendations please?

If your bank won't give you a credit card (I'd be astonished given your savings - try HSBC as they aren't as strict as Co-Operative), then the Capital One Progress (not Classic) will be a good starting ground

Brian1966

Definitely think that I may need to start closing a few accounts.
In Sept 08 I had no credit, now thanks to this thread in particular I have around 18k in available credit :eek:

stephane_2

Same for me, up until last year I had 1 credit card with a ridiculous £500 credit limit, since June last year I have been given over £25,000 of available credit....and it is suppose to be the credit crunch

BugsyBrowne

stephane wrote: »

Same for me, up until last year I had 1 credit card with a ridiculous £500 credit limit, since June last year I have been given over £25,000 of available credit....and it is suppose to be the credit crunch

Think people would be more impressed if you say you have 25k in savings,rather than i have 25k of available credit which is the banks money not mine..

izools

star-fire wrote: »

Think people would be more impressed if you say you have 25k in savings,rather than i have 25k of available credit which is the banks money not mine..

That's hardly the point. The point is the rate at which it is still possible to obtain unsecured credit despite the financial crisis.

stephane_2

izools wrote: »

That's hardly the point. The point is the rate at which it is still possible to obtain unsecured credit despite the financial crisis.

Exactly my point.....

BugsyBrowne

izools wrote: »

That's hardly the point. The point is the rate at which it is still possible to obtain unsecured credit despite the financial crisis.

Yes izools i gather that..