Close accounts or not?

sammie28

Yeah, think i will focus on paying off and closing a catalogue account as that will reduce available credit by £3600 and possibly reduce the other 2 limits as they are £3600 and £3900!

jo-bo

There is something wrong with your credit agreements section if it is yellow. I have more than 15 credit agreements active ( loan/credit cards/catalogues/bank accounts ) and mine is green.
If I were you i'd take a closer look at those agreement details.

sfax

jo-bo wrote: »

There is something wrong with your credit agreements section if it is yellow. I have more than 15 credit agreements active ( loan/credit cards/catalogues/bank accounts ) and mine is green.
If I were you i'd take a closer look at those agreement details.

This is true. Mine is yellow because of a "1" in my payment history from May 2009. This is my only late payment across 14 active agreements and about 30 agreements in total. So any late payment in the last 3.5 years (not sure how far they go back) would make it yellow. Whether it's material or not is another matter. In my case the yellow status makes no odds

sammie28

I have taken a closer look, I do have a '1' on a catalogue account :eek: It was march 2011, thinking back, i went into hospital and thought i had paid everything before i went in, only to find when i came out that i had missed 1. Guess that's why it's yellow. (obviously my own silly fault )
It was 19 months ago and have had regular increases in limit with the company since. How bad will that look to a mainstream lender? Could that be why Flybe declined me?

sfax

sammie28 wrote: »

I have taken a closer look, I do have a '1' on a catalogue account :eek: It was march 2011, thinking back, i went into hospital and thought i had paid everything before i went in, only to find when i came out that i had missed 1. Guess that's why it's yellow. (obviously my own silly fault )
It was 19 months ago and have had regular increases in limit with the company since. How bad will that look to a mainstream lender? Could that be why Flybe declined me?

Very unlikely, as I have been regularly getting accepted for new credit agreements since my "1" in May 2009. It's made no difference at all for me as far as I can tell

sammie28

That's encouraging. I will ring them tomorrow and see if i can get the decline reason out of them! ie too much available credit etc. I will let you know what they say and then see what you lovely helpful people think i should do next

Don't want to keep applying if i'm not going to get accepted. Been silly in the past and did far too many searches, not realising how much it affected credit rating! Definately not doing that again.

sfax

Good luck with that. They're very unlikely to give you more detail on why they declined your application. I've asked a few times and got no detail. It's annoying but they're under no obligation unfortunately

sammie28

Well i will give it ago, not holding much hope but it does say on their letter that you can ask what the reason for decline was and i have read on here that Creation have told people the actual reason. Worth a try.
Thanks for your advice, it's appreciated.

sammie28

Ok, so i rang Creation, who told me to ring Equifax! Apparently there are 2 accounts linked to an old address which were not showing up on the report i got due to me only inputting the last 3 addresses i have had. Which i am sure it only asked for 3, anyway they have missed payments on from over 5 years ago but were settled in 2007. (Bad patch i had 5-6 years ago) They think this is what is causing me to have a bad 'score'. She said there was nothing else that would be of concern.
I though after the ccj had gone last month, that was everything!
Anyway, i have decided to appeal. Figured it can't harm to explain the circumstances of the late payments back then. Not getting hopes up but it's worth a try.

sammie28

Ok, cancelled Cap 1 card with £200 limit. Not holding out much hope of getting a better card so i am thinking of trying for the Cap one, One Rate and transferring the balance from Vanquis. It says you need a very good credit rating though! I got the Progress card approx 18 months ago which said you needed a 'good' credit rating, at that time i had a ccj and an unpaid default.
I was accepted online Instantly. Not sure whether to apply for the One Rate though. The ccj has gone and the default is satisfied but it is still on for the next 10 months.
Anyone got one, and did you have any satisfied defaults / late payments etc and got accepted.