mainstream

skintdad

it was my friends and colleagues i was embarrassed in front of. they knew my approx salary etc and the only cards in my wallet were same ones available for schoolkids accounts. i wasnt saying that i should have a mainstream credit card because i have a decent income. i was saying that 6 years is a long time especially as circumstances change and so does a persons financial perspective. i had paid all of my debt off and had some assets by mid 2008 and was planning to start a family. there is no way i could have the financial perspective i had when i was 18-22 years old now that i have a business to run and a family to support.

skintdad

having a blanket ban on defaultees is wrong IMO. Defaults and CCJs should dilute over time provided everything else on the credit report is good. if there are a few recently missed payments showing then its obvious that the debtor hasn't learnt their lesson and is still a bad risk. However, if someone with an otherwise perfect record gets a default as a result of a dispute with a financial organisation then are you saying they should be refused all credit? there has to be common sense applied and hence the reason for defferred applications and notices of correction on credit files

BugsyBrowne

skintdad wrote: »

having a blanket ban on defaultees is wrong IMO. Defaults and CCJs should dilute over time provided everything else on the credit report is good. if there are a few recently missed payments showing then its obvious that the debtor hasn't learnt their lesson and is still a bad risk. However, if someone with an otherwise perfect record gets a default as a result of a dispute with a financial organisation then are you saying they should be refused all credit? there has to be common sense applied and hence the reason for defferred applications and notices of correction on credit files

I agree disputes should be loOked at differently and corrected accordingly, but someone who blatantly run up credit debt etc with no intentions of paying back should have a trashed credit report for 6 years and in those 6 years shouldn't be able to get APR rates like us who don't miss payments.

skintdad

The blanket ban would likely be part of the scorecard. Eg default or ccj present = instant decline. I paid all my debt off I didn't run away from it. I agree that people that spend and run should be stopped from getting credit. Its basically a form of theft. That would show in their credit files as unsatisfied defaults. Many banks still decline automatically when satisfied defaults are present in CRA files. im pretty sure the subprime lenders won't issue cards to people with unsatisfied defaults and ccjs

skintdad

Got my acceptance email from MBNA this morning. £2k limit @ 16.9%. Thankfully their blanket only covers 5 years, not the full 6

BugsyBrowne

skintdad wrote: »

Got my acceptance email from MBNA this morning. £2k limit @ 16.9%. Thankfully their blanket only covers 5 years, not the full 6

Well done mate they are normally very good MBNA just watch your credit limits as they up them very frequently.

Bravehearted_2

Good stuff - congrats.

You have the right attitude - what I despise are the ones that run up unpaid debts, then come here angry at lenders for declining them.

BugsyBrowne

Bravehearted wrote: »

Good stuff - congrats.

You have the right attitude - what I despise are the ones that run up unpaid debts, then come here angry at lenders for declining them.

My exact thoughts also.

skintdad

Thanks. My lessons have been learned the hard way. I'm probably better for it tho as im ultra careful now

giblet10

Does anyone know if mbna issue cards to previous bad debtors? I had mbna 7 years ago that was part of my IVA - all done and paid off now - just wondered...

And yes, I was reckless and all that..