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Newbie - Couple of questions

crbuilder
Posts: 19 Forumite
Hi guys,
I've just joined the forum today and have spent most of the day browsing and reading up lots of good information on here.
My question is that i applied early last week for a 'Sub Prime' credit card - the card in question was a capital one classic. Reason for this choice is i understand this is one of the good ones out there to start a credit profile rebuild. As of today i still haven't had an acceptance through, just a letter from C1 saying there still trying to process my application :think:. A friend also applied for the classic card, after i did, and had received today the pin and that the card is on its way, they have a poor credit, with defaults on several accounts etc.
I bought my credit report earlier this evening via creditexpert and all seems in order, exisiting credit card, phone contract etc are all in order upto date, no adverse data showing. I did have a ccj some time ago along with defaults but these have now cleared/removed and not showing up, i also purchased my credit score and its come back at 905, is this a good score? Will lenders take the score into consideration? and do all credit report agencies report the same kid of credit score? I have also been running the cashplus credit builder for the past 4/5 months and managing the account with the payments with no problems.
I have also been on the barclays website and used there 'letmechoose' pre credit checker tool and had a reply of no credit cards they have a suitable for me, which has left me stumped/concerened as to what is going on.
Anyone with any advice/comments is much appreciated.
Regards
I've just joined the forum today and have spent most of the day browsing and reading up lots of good information on here.
My question is that i applied early last week for a 'Sub Prime' credit card - the card in question was a capital one classic. Reason for this choice is i understand this is one of the good ones out there to start a credit profile rebuild. As of today i still haven't had an acceptance through, just a letter from C1 saying there still trying to process my application :think:. A friend also applied for the classic card, after i did, and had received today the pin and that the card is on its way, they have a poor credit, with defaults on several accounts etc.
I bought my credit report earlier this evening via creditexpert and all seems in order, exisiting credit card, phone contract etc are all in order upto date, no adverse data showing. I did have a ccj some time ago along with defaults but these have now cleared/removed and not showing up, i also purchased my credit score and its come back at 905, is this a good score? Will lenders take the score into consideration? and do all credit report agencies report the same kid of credit score? I have also been running the cashplus credit builder for the past 4/5 months and managing the account with the payments with no problems.
I have also been on the barclays website and used there 'letmechoose' pre credit checker tool and had a reply of no credit cards they have a suitable for me, which has left me stumped/concerened as to what is going on.
Anyone with any advice/comments is much appreciated.
Regards
0
Comments
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Anyone ???0
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Your credit score means absolutely nothing to lenders....just a number that came out of thin air...and credit expert getting £6 for it. Each lender will have many different criteria before granting credit to someone like time at address, electoral roll, employment status, time with employer, income, account management etc....
You may also want to check Equifax to make sure that all the information they have about you is correct, barclaycard with sygma are more or less the only credit card providers who check equifax0 -
You credit score from the agency has no meaning (apart from the agency have made some money from you).
Each lender decides on their own criteria and their own scores.
So for example AMEX might decide that you need £30K+ income for one card.
Often their criteria for their target market are more complex than that.
Some companies might seek out people who are likely to mis-manage debt and pay interest rather than acceptig good customers from whom they will make no income.
I know it's frustrating but it's impossible to know why you aren't accepted if you are declined.
It doesn't necesarily mean you aren't good enough, in fact it could be the opposite and mean you aren't bad enough.
All you can do is to check your report is correct.
Don't make too many applications in a short time period.
and try to apply for products that you are likely to be accepted for.
but ultimately no-one has to accept you and they don't have to say why either. Sorry, but you'll find lots of articles and good advice on here, so do some research before making more applications.0
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