Capital One Secured Card - Will I be successful

BugsyBrowne

bigadaj wrote: »

I don't think tis a case of making up stories, just a case of the craziness at the time, irresponsible lending, irresponsible borrowing and a lack of basic financial education. The idea that you will only be able to spend what you have is very difficult to teach apparently.

I'm trying to be objective about this, and the OP has sorted out the mess himself but unfortunately virtually very government in the world hasn't.

Pretty sure HSBC wouldn't be in the irresponsible lending criteria(bracket) in 2005-2006 TBH.

BugsyBrowne

fairfight2011 wrote: »

Hi I just wanted to chime in and respond to the poster who doubted the accuracy of your statement above - I took out student finance with HSBC at 19 - and am slowly paying it off now (I'm nearly 35!)

They had no hesitation in offering me an overdraft and a mastercard on the strength of a university acceptance letter, and I hadn't banked with them before. I previously banked with TSB (before they became Lloyds TSB) and they offered me an £800 overdraft on my 18th birthday, when I was still an A Level student and had no regular employment.

Barclays, who I had to open an account with after HSBC froze my account while I was still at Uni, offered my first overdraft of £300 in the run up to Christmas on the strength of being on Lone Parent Benefit...

In my case it's been a matter of Desperate borrowing and Irresponsible lending. To bring you up to date - I am now wondering how to get shot of my 'credit repairing' capital one card with it's ridiculous 40% interest rate...

Well done for paying everything off in 6 years!:T

We are talking 2005 not the early nineties.

When HSBC offered you this anyone with a pulse could get credit.

Maestro.

BugsyBrowne wrote: »

Pretty sure HSBC wouldn't be in the irresponsible lending criteria(bracket) in 2005-2006 TBH.

To be fair I don't really think it's your place to say that the OP is making up stories when you haven't presented any evidence against the case...

BugsyBrowne wrote: »

If the OP is around 35 it's quite possible as the 90's lenders like MBNA, barclaycard were throwing credit everywhere, criteria was easy, banks were making money etc.

Around the time Bank AmeriCard became VISA they actually sent unsolicited mail on masse through people's doors, with pre-approved credit cards... those were the days eh!

Estj87

BugsyBrowne wrote: »

Sorry mate but I am not buying that been there since 6 or not HSBC wouldn't of lent you all this money at 18 in 2005.

You don't have to make up stories.

Short of scanning in bank statements from 2005 to prove to you I'm not 'making up stories', there's not a lot I can really say!

I can assure you, HSBC offered it to me, I accepted and went a bit crazy with the money.

HSBC's justification at the time was, that I could afford it (Paying in over £1k a month since turning 16 and working and having virtually no commitments (lived at home with my parents at the time.)

I had around £800 a month play money (so to speak)

Estj87

fairfight2011 wrote: »

Hi I just wanted to chime in and respond to the poster who doubted the accuracy of your statement above - I took out student finance with HSBC at 19 - and am slowly paying it off now (I'm nearly 35!)

In my case it's been a matter of Desperate borrowing and Irresponsible lending. To bring you up to date - I am now wondering how to get shot of my 'credit repairing' capital one card with it's ridiculous 40% interest rate...

Well done for paying everything off in 6 years!:T

Thanks, glad i'm not the only one who was stupid back then! I'm the first to admit i irresponsibly borrowed - but that's because I was convinced I could afford to pay it back and didn't know the consequences if I didn't.

I remember applying via the phone for the loan, they approved it there and then, said I needed to go into HSBC branch to sign the paperwork and I was away. The money was in my account instantly. The advisor then asked me why I wanted the money and I said to buy a car, she then sold a credit card to me to cover those 'unexpected bills'.

Stupid, really stupid, looking back. But I suppose I was a perfect customer to them at the time. (Despite my age.)

BugsyBrowne

Estj87 wrote: »

I didn't ask for your justification or belief to be fair. I was asking a genuine question and thankfully, I've had some pretty decent responses.

I have nothing to gain (nor would I waste my time) by 'making up stories' on a website I'm only a member of to get advice.

I would suggest that if you're bored, and find it productive to post inflammatory comments without any reason or justification, try doing so on threads you start yourself.

Thanks in advance.

No worries thanks for sharing.

BugsyBrowne

Estj87 wrote: »

Thanks, glad i'm not the only one who was stupid back then! I'm the first to admit i irresponsibly borrowed - but that's because I was convinced I could afford to pay it back and didn't know the consequences if I didn't.

I remember applying via the phone for the loan, they approved it there and then, said I needed to go into HSBC branch to sign the paperwork and I was away. The money was in my account instantly. The advisor then asked me why I wanted the money and I said to buy a car, she then sold a credit card to me to cover those 'unexpected bills'.

Stupid, really stupid, looking back. But I suppose I was a perfect customer to them at the time. (Despite my age.)

You were not stupid then as you were not born, the OP is now 35 and they are talking about 16 years ago which makes it the middle of the nineties were credit was that easy even my cat got got a credit card.

Estj87

BugsyBrowne wrote: »

You were not stupid then as you were not born, the OP is now 35 and they are talking about 16 years ago which makes it the middle of the nineties were credit was that easy even my cat got got a credit card.

I'm 25 - I've said a few times now. It was 2005.

BugsyBrowne

Estj87 wrote: »

I'm 25 - I've said a few times now. It was 2005.

Yes I know how old you are, but you responded to another poster saying Back then when the OP was talking about the nineties where you were about 5.

pcombo

I doesn't matter what age OP has been banking at. OP asked a simple question and gets interrogated about their life.

Only way to know if you will be accepted is apply or contact them and apply.

How easy was that!!