Can't get credit anywhere else except Barclays. Why?!

chexum

slackinside wrote: »

Good to know because to be honest with you I don't need to use overdraft I only do because it's free till £300 and if it's free I rather pay off the balance of my credit card.

If that's a Barclays account with a monthly fee (that's what I know makes £300 o/d "free"), then they won't report your use of this facility, if you always keep below the "free" threshold. That means it cannot affect your credit rating with other companies.

It's difficult to find out what lenders look for - it could be the electoral roll, but if you state your citizenship, they should be aware that you are not eligible for voting anyway. Both may then contribute to scoring you down. One for not being on it, and two for being a resident who may have their residency potentially ended.

Also, your limits is not that far away from half your annual salary (£10k vs. £13k), so a prime lender may not find there's enough "space" for a limit that they could otherwise offer you. If you already have a £8k card, they may not think offering £1k-£2k would bring any advantage for them or you.

It is *possible* (but it also could be a bad idea, there may be other factors ), if you reduced the limit of £8k to £5k, another lender could match you with a similar sized card that you could then BT to.,

slackinside

Hi guys. Thanks a lot. It's been very helpful for me.

I pay £5 for the account after paying £25 for almost 1 year and a half.
I mentioned previously "free" because I only pay the £5 for the iphone insurance.

For the first time it is showing on my credit report I am £60 overdraft.
My limit is £200 and the account is free till £300.

I have already recuded my barclays premier credit card from 7k to 2k.

So would you guys advise recude the platinum with a limit of £8k /balance of £3.200 to 5k maybe?

I think what you guys are saying makes complete sense to me.

Thanks again

chexum

You could click "Thanks" for us

slackinside wrote: »

For the first time it is showing on my credit report I am £60 overdraft.

Strange - I haven't seen them reporting that before...

slackinside wrote: »

I have already recuded my barclays premier credit card from 7k to 2k.

So would you guys advise recude the platinum with a limit of £8k /balance of £3.200 to 5k maybe?

When did that happen? £7k+£8k could have been indeed too high for the salary that you mention.

If you reduce the limit further, you could risk growing your available/used ratio unconfortably high. It's also possible that this had no effect, lenders may be thinking that you can't afford another credit commitment because you keep carrying the balance. With a credit search they see the same monthly balance and total purchases/repayments. You should appear to make reasonable progress with the balance.

If you want to BT that £3,2k, you will need a prime card - maybe Sygma can help, they are bit more lenient in accepting people, but then again they are more picky about the electoral roll as well

Capital one Progress is nice if all you want is just one more card issuer to trust you, but the rate is quite bad for starters.

bobkerry

i think you should search online and i am sure you will find other banks too because there are many otehr banks which are offering this service too so try to do a proepr research first

slackinside

Yeah. It makes sense too.

To be honest I had two capital one credit card in the past which is settle now.

I forgot to mention that I got refused by santander but then sent an appeal and someone
phoned me and asked me to go to one of their branch bringing a form of ID with me to get it
accept it.

I received the card with a limit of 1k but then they asked me for more ID and I just decided to cancel it as I found their customer service really awful.

On my report it states as account open 02/03, account close 02/04

`-_-

I will try to recude my balance and apply for an AMEX and see how it goes.

== Do you guys think if my partner gets me an additional card from his amex account and I use it for 2 months, does it help to get accepted? or it doesn't matter? ==

gazelle8760

fawinds wrote: »

Citibank does a £500 fee and interest free overdraft but you need to pay in your salary into the account.

According to Citibank, The Salary credit has to be at least £1250 per month, for a minimum of three months to qualify, then you don't necessarily get it either, I've had this argument with them time over, they tend to make up the rules to favor themselves, however, their Ts and Cs don't quite make it clear enough, needless to say, they can stuff their £500 IFO, Llloyds get my Salary now, so Citibank can go take a flying leap.

slackinside

gazelle8760 wrote: »

According to Citibank, The Salary credit has to be at least £1250 per month, for a minimum of three months to qualify, then you don't necessarily get it either, I've had this argument with them time over, they tend to make up the rules to favor themselves, however, their Ts and Cs don't quite make it clear enough, needless to say, they can stuff their £500 IFO, Llloyds get my Salary now, so Citibank can go take a flying leap.

I agree with you too. If you don't deposit a minimum of £1250 per month you will be charge £20 plus interest and they will remove the od facility.