997 Score with Experian, but one default from 4 years ago

The_Aquapanther

Am I likely to be considered a very low risk customer, for CC's etc, or will the default screw me up?


Cheers.

Hazzinho

The default will hinder you. Once again proves the scores are rubbish.

Tixy

The default will definitely be a problem for any potential lender who searches experian (if its also on your other files then the same applies to lenders who search them).

Potential lenders do not see the score that experian sell you.

If your default is settled then you should be able to get some credit cards (not the best deals and the 0% promos etc, but a subprime or mid level card).

ejc81

The_Aquapanther wrote: »

Am I likely to be considered a very low risk customer, for CC's etc, or will the default screw me up?

Cheers.

Use the card quote on experian (ie lower my bills) and see which cards appear and what deals. Some lenders only check the past 3 years and if that is all good they don't look any further. Lower my bills uses your experian credit file (ie soft search) which doesn't leave a footprint for other lenders to see.

Nationwide is currently offering a good balance/purchase deal and they also offer a soft search quote....I think it was discussed on here somewhere that if they offer you an APR of less than 19.9% then it was generally an accept for a card. I did a couple of quotes over a couple of weeks with an original quote at apr of 15.9% dropping to 9.9% a few days later....I was accepted for that plus 0% on balance transfers for 16 months.

I would say just have a look online. As long as the default is showing as satisfied then it isn't always a big problem, even though some folk would like you to think it's the end of the world

Tixy

If you use the lower my bills option and have a 'poor' credit file / a file with negatives then expect various loan companies to contact you over the next few weeks offering you ridiculously expensive subprime credit.

giblet10

ejc81 wrote: »

Use the card quote on experian (ie lower my bills) and see which cards appear and what deals. Some lenders only check the past 3 years and if that is all good they don't look any further. Lower my bills uses your experian credit file (ie soft search) which doesn't leave a footprint for other lenders to see.

Nationwide is currently offering a good balance/purchase deal and they also offer a soft search quote....I think it was discussed on here somewhere that if they offer you an APR of less than 19.9% then it was generally an accept for a card. I did a couple of quotes over a couple of weeks with an original quote at apr of 15.9% dropping to 9.9% a few days later....I was accepted for that plus 0% on balance transfers for 16 months.

I would say just have a look online. As long as the default is showing as satisfied then it isn't always a big problem, even though some folk would like you to think it's the end of the world

My IVA was still showing on Experian when I did the NW soft search - it came up with 19.9% and £3800 limit - when I applied it was declined.

I applied last week when all appeared good and IVA gone from Experian - rate dropped to 15.9% and limit £4500 - and was this time referred (still waiting decision)...but defaults make a difference..