Post Office Card - Strict?

izools

Just wondering how strict the Post Office card is?

My OH is interested it taking out a SBT card.

His credit profile is thus:

Registered to vote
Active accounts:
HSBC Bank Account (18 months)
HSBC Credit Card (18 Months - £500 limit, ~£250 balance, paid in full each month. They originally gave him £2,500 but he didn't want it so asked for reduction)
Vodafone Account (40 months)

The three active accounts have no missed payments ever.

He has a long credit history dating back many years on other settled accounts and hasn't missed a payment on anything in over 36 months (three years).

Prior to that there are two defaults (satisfied), one from November 2006 and one from Many 2007. Small amounts, mobile contracts.

One credit search in the last six months.

Debt : income of under 1%
Cumulative Limit : Income ratio of ~ 2%

Wondering if it's worth spending a search on a Post Office card if anyone has experience they can share? Otherwise won't bother

Ben8282

Shame he reduced the credit limit from £2500 to £500; £500 is a low limit. Doesn't look very good to only have such a small limit. The credit limit reduction, low credit limit and defaults won't look good even if they are satisfied. Better to try to get HSBC credit limit put back up or apply for Vanquis card.

izools

Ben8282 wrote: »

Shame he reduced the credit limit from £2500 to £500; £500 is a low limit. Doesn't look very good to only have such a small limit. The credit limit reduction, low credit limit and defaults won't look good even if they are satisfied. Better to try to get HSBC credit limit put back up or apply for Vanquis card.

Vanquis?

Funny man.

Credit limit reductions don't count against you. Was wondering about post office's strictness.

OllyM

They are strict from what I've heard, I don't think they will entertain people with defaults showing on their credit file.

Dabooka

I got knocked back for it after having the request letter for ID confirmation, but then got a mainstream Barclaycard no problem. I'm assuming they're a little stricter than others based on that, although my time at current address clicked over the three years point inbetween applications (if that'd influence it or not I have no idea).

izools

Thanks for the input.

No matter then. His defaults don't seem to be having too big an effect has in recent years he's been approved for various mobile contracts, Capital One Progress, HSBC Current Account & Credit card, and a Yes-secure.com loan with both defaults there, all this has since been paid off without a single missed payment.

Have submitted an application which has been referred, we'll just have to suck it and see I guess

No biggie if it's a decline, just that an SBT would be useful for him at the moment.

Will let you all know the outcome

izools

UPDATE - Received letter from PO today asking my OH to send in ID so isn't a decline yet

iAMaLONDONER

izools wrote: »

UPDATE - Received letter from PO today asking my OH to send in ID so isn't a decline yet

Did you get it?

jonesMUFCforever

iAMaLONDONER wrote: »

Did you get it?

Look at the date of last post - I think they are still thinking about it.:rotfl::D

iAMaLONDONER

jonesMUFCforever wrote: »

Look at the date of last post - I think they are still thinking about it.:rotfl::D

You never know! :rotfl: