Former Bankrupt applied for Capital Classic Credit Card

hoffage123

Hello,

I've very nervously applied for this card to rebuild my credit (went bankrupt nov 2007, discharged may 2008). They check Experian and Equifax (have noted it when I went to check my file online). My score was pretty good on Experian (909), but it has gone down to 863 as a result of the application, so I hope it is successful!

I certainly won't be applying for another credit card for a long while if it isn't. Is there anything I can do if they turn me down?

philnicandamy

have you had a read here 1st?

https://forums.moneysavingexpert.com/discussion/677875

fingers crossed for you every little WILL help if they refuse leave it a few months and try a different supplier vanquis etc? they have sky high APRs so use at your peril pay off every month, i've found one month SIM contracts with mobile providers help as well....shopping account too so I hear

hoffage123

Thank you I managed to clean up my credit file on Equifax (that had HSBC accounts showing as default when it should be settled) - I sent the standard letter off Monday, and I have just noticed the updated corrected report now ... so that makes me more optimistic that the application would go through *fingers and toes crossed*

kepar

Can I ask how your rating has got so high when appears that you have taken out no credit?

Have you moved or something and not given your past addresses as I know friends whose rating is not that high and are good with credit and no bankruptcy.

Have you multiple current accounts etc?

I was also under the impression that getting turned down for credit did not affect your rating , unless you applied and were denied for a lot of various credit in a short period of time.

philnicandamy

Credit "scores" dont mean a thing its a number seems plucked from the air!

as long as your files are cleaned thats all that matters...most lenders now have their own credit scoring system now anyhoo

NeverAgain_2

As Phil says, no point in getting too hung up on credit scores.

The lender advances the loan/issues the card, not the credit scoring company.

The lender may take some account of the information held by the credit scoring company, but ultimately the lender 'scores' the application according to its own criteria.

dojoman

Have you tried for a Vanquis CC? I was turned down for a Cap 1 but was accepted by Vanquis.

hoffage123

Hi Kepar,

In the previous thread that I posted here I answered your question, but basically I do have two mobile phone contracts, plus have had car insurance. All those count towards the credit history. All previous addresses are present and correct on my file. I was a bit suprised myself when I checked my file, but I have been running all my accounts post-bankruptcy very well, and it has been a few years since I was discharged ..... like other posters mentioned the number is often quite arbitrary anywho

hoffage123

dojoman wrote: »

Have you tried for a Vanquis CC? I was turned down for a Cap 1 but was accepted by Vanquis.

I think I tried for a Vanquis back in 2008 but was rejected. Hopefully it won't come to having to apply for it again - the Capital people say they'll get back to me this week if I am successful (or not)

kepar

like other posters mentioned the number is often quite arbitrary anywho

So why are you upset that your rating has gone down.

All your credit before has been minimal, although will increase your rating. But phone contracts and car insurance can be terminated whilst paying monthly, you haven't had any credit such as a loan or credit card.

I haven't checked my files since br 3 years ago and will clean them soon. I got a credit card (Vanquis) no problem last year and have had regular increases since. Also I am on a small pension and do not work.

I have two mobile contracts, sky, and three current accounts.

I got turned down by Capital One when I applied for a cc with them , but they had been one of my creditors.

If your credit score does not matter why worry about it?

hoffage123

It doesn't bother me too much now that I know about the scoring. But I'm just trying to follow Martin's advice about checking my file carefully and not making loads of applications