Applying for 0% cards - have I inadvertently wrecked my credit rating?

Maestro.

<conspiracy theorist>

it would not at all surprise me if the banks and CRAs were in cahoots with each other and agreed to fail a certain percentage of applicants, hence steering them towards the CRA where they then oh so conveniently buy a credit report (and even a "score") so that they can find out what's "wrong" with it.

It gives some weight to explaining why one bank will consistently fail to take you on as a customer while others will conveniently bite your hand off...

</conspiracy theorist>

MoneySaverLog

InsideInsurance wrote: »

From you telling your bank to do something and it showing on the CRAs it can be anything from a couple of weeks to 3 months depending on where your instructions are in relation to the reporting cycle and the speed of their actions. Most banks only provide a monthly update to the CRAs but it takes some time for them to extract and prepare all the data.

If data is inaccurate sometimes depending on who you speak to at the bank the data can be changed the next day. They do not have to wait for the monthly reporting cycle to correct the error.

MoneySaverLog

Maestro. wrote: »

<conspiracy theorist>

it would not at all surprise me if the banks and CRAs were in cahoots with each other and agreed to fail a certain percentage of applicants, hence steering them towards the CRA where they then oh so conveniently buy a credit report (and even a "score") so that they can find out what's "wrong" with it.

It gives some weight to explaining why one bank will consistently fail to take you on as a customer while others will conveniently bite your hand off...

</conspiracy theorist>

Different banks, different customer profiles. It's like comparing apples with oranges or should I say vanquis who would accept previous insolvent customers with a mainstream lender who would reject on a missed payment for example.