Capital One Classic Upgrades

BugsyBrowne

izools wrote: »

Quite right, too. The momentum built up as I started being accepted more often and figured a month or two ago "Job done"

HSBC still won't give me a Credit Card though, I'll try again in May (last tried 1st Nov after they opened the Current A/C).

Hopefully the fact that my current a/c balance with them fluctuates between #750 and #2,000 will help my credit card app in May. Never gone anywhere near the O/D. If I do get an HSBC Mastercard I'll keep Capital One anyway - as it's good to have one card to repay in full each month and another with a low standard rate.

Pity Barclaycard won't transfer your Sygma card balance - have you tried explaining to them how to do a Manual transfer? Or just no Bal xFer offers on your Barclaycard a/c at the moment?

Yeah just no balance transfer offers at the moment they say, my balance on my barclaycard is 2.2k which leave me 1.3k of available credit on this card, and my flybe credit balance is 1k which is a pain in the ar*e as barclaycard is sitting there with 1.3k available which would quite easy pay the flybe balance..

book12

izools wrote: »

Totally agree. The only time it *can* be a problem is when you say you've been at your address for say, three years, but there's proof on your credit file of being registered to vote at another address just, say, one year ago.

Creditors see this as the applicant trying to hide potential adverse history at a prior address.

paulmcerlean wrote: »

This is very true - so long as they match is all that counts. All this talk of must live at address for x years and be on the electoral roll for the same time is !!!!!!!!.

I know from experience and from others that it is just not the case. Why, I know of many who have lived at X address for X years and NEVER been on the electoral roll and still have credit cards, phone contracts and the rest.

So long as there is lots of green zeros and a nice salary, then getting finance is possible.

It's impossible to have the length living at an address and length on the electoral roll the same because:

• as when people move in and put their name on the rolling register, it takes a month to update (e.g. move in in June 2010, and name will appear on July 2010 - credit report will show 'July 2010 - present')
• using the above example again (move in June 2010), the person might want to wait until the canvass period (Sept 2010/Oct 2010), then the CRA update their files in January 2011 - credit report will say 'Oct 2010 - present').

Therefore, it's impossible to have the length of time living at address, and length of time on electoral roll the same.

When applying for financial products, they will take your word for it about living at the address for 'x' amount of years/months. There's no formal way of seeing the exact amount of years a person lives there. I'm sure most people will tell the truth on the length of time a person lives at an address. Even if a person is not the electoral roll, the bank staff enter your address and the length of time living there in their system, and sends those details to CRAs I believe.

Being on the electoral roll, including the length of time on it will help your score though, but not that much I believe.

The people you know who can get credit cards without on the electoral roll is rare though. It's one of the criteria for banks to check before offering credit cards, and other types of credit. As for mobile phone contracts, don't know about that. But I think it's optional to be on it for mobile phone contracts, as it's not borrowing money.

izools

book12 wrote: »

Therefore, it's impossible to have the length of time living at address, and length of time on electoral roll the same

Yes I know, but if say for example you have adverse credit at your old address, and say on your application you have lived at your current address for three years - meaning they won't ask for your previous address - despite only having lived at your current address for six months - the creditors need a way to see this as fraud.

If the fraudulent applicant in this example had changed address from their old to current one, on any accounts that appear on their credit file, a link will have been created and the creditor they have applied to (with a lie on the application) will see the previous address and the years they were on the ER.

Obviously a few months out is allowed for for the reasons you provided above.

But creditors ARE aware of applicants lying about time at address to boost their score / hide adverse history, and they will use this as a method for identifying this sort of application fraud even if it results in a small amount of honest applicants being declined.

If I were an underwriter I would rather decline a small percentage of credit worthy applicants than approve a load of fraudsters.

EDIT: I was declined for a Tesco loan prior to applying for my Zopa loan, despite being honest on the application, because I was not on the ER at my previous address consistently - prior to living at my current address I've moved around a lot, too often, and because nearly all creditors only take two addresses, even if you've moved five times in the last 3-6 years, they were unable to "Verify my address history".

That was the reason the underwriter gave for the decline. When I applied to Zopa I used information that tied in with what the underwriters would see on my credit file and the application was approved.

book12

izools wrote: »

Yes I know, but if say for example you have adverse credit at your old address, and say on your application you have lived at your current address for three years - meaning they won't ask for your previous address - despite only having lived at your current address for six months - the creditors need a way to see this as fraud.

If the fraudulent applicant in this example had changed address from their old to current one, on any accounts that appear on their credit file, a link will have been created and the creditor they have applied to (with a lie on the application) will see the previous address and the years they were on the ER.

Obviously a few months out is allowed for for the reasons you provided above.

But creditors ARE aware of applicants lying about time at address to boost their score / hide adverse history, and they will use this as a method for identifying this sort of application fraud even if it results in a small amount of honest applicants being declined.

If I were an underwriter I would rather decline a small percentage of credit worthy applicants than approve a load of fraudsters.

EDIT: I was declined for a Tesco loan prior to applying for my Zopa loan, despite being honest on the application, because I was not on the ER at my previous address consistently - prior to living at my current address I've moved around a lot, too often, and because nearly all creditors only take two addresses, even if you've moved five times in the last 3-6 years, they were unable to "Verify my address history".

That was the reason the underwriter gave for the decline. When I applied to Zopa I used information that tied in with what the underwriters would see on my credit file and the application was approved.

I (UK citizen) have lived at my address for 7/8 years (before those 7/8 years I lived abroad in the EU most of my life due to parents jobs, but returned here due to educational reasons - complete A-levels). I put my name on the electoral roll during the canvass period in 2010. The reason for not putting my name on the voters roll at age 17/18 (2004-2005) is that I was taking a gap year after A-levels, and then going to uni. No point putting my name at an address, which I don't live at for most of the time. After graduation, I have realised that I could put my name on the voters roll at home and uni address, but only vote at one address. Oh well.

When I opened my lastest bank account early last year, I wasn't on the voters roll, and managed to get one bank account. Closed the bank account with another bank that I opened upon arrival a long time ago, due to bad customer service. I also told the truth about living at my adress for that amount of years. I have no idea how they verify it, or they just take my word for it. Anyway, it's in the banks system/customer profile now, and on the CRA files.

According to our example, I will be accused of fraud, as per your example (i.e. lived at address for 7-8 years, and on the voters roll for a few months only)? :think:

Hax

jw30 wrote: »

i still have £15k of it i was gonna offer pay it off but seems daft if it makes no odds if you pay off a default or you don't and it still takes 6yrs.

A settled default looks a lot better than an unsettled one. Plus, you need to be aware that there's nothing to stop your creditors applying for a CCJ against you for the debts.

izools

book12 wrote: »

According to our example, I will be accused of fraud, as per your example (i.e. lived at address for 7-8 years, and on the voters roll for a few months only)? :think:

Ah, not in my example.

My example is as follows.

Applicant lives at address one from March 2001 to February 2009. He was registered on the ER at this address from June 2005 to May 2009.

He moves to address two and registered on the electoral role in December 2010. He applies for a bank account in January 2011.

He says on his application that he has lived at his current address for three years.

His application is declined because there is proof on his credit file of having lived at a different address for most of the three years he claims to have been living at his current address.

In your example, there is no prior address, and no prior ER registration at another address.

Subtle difference I know, but that's how to tell the difference between an honest applicant who has only recently registered on the ER, and an applicant that has moved and is trying to hide adverse credit history at a previous address.

lucylucky

SPAM once again reported this unpleasant poster

lucylucky

SPAM once again

tigerlily43

Being on the electoral roll must make a difference to Capital One. I was declined when I wasn't on it but have just been accepted and I went on to the electoral roll in January (as I moved home in October).

Any idea of starting limits?

thanks
tigerlily

izools

Really does vary, I was given #300, flatmate #1,000.