Poor History Credit Cards

hurricaneangel

I've just used the eligibility calculator on the site for this type of card and based on the 'must knows' I fit the bill for sure but when I got the results for my likelihood of success they all came up with 10% chance of success! Anyone got a clue on why this may be?

Thanks.

john1002

With out knowing what you put in the form on the site and your credit history we would not know why you have only been given 10% chance.

but what that means is 10 people out of 100 were successful but of course 90 were not, the only way of telling is to apply or try capital one, barclaycard and MBNA who all have there own eligibility checkers that have a better chance of telling you the likely chance of success with one of there cards, these all have poor credit history cards.

John

SnowTiger

hurricaneangel wrote: »

I've just used the eligibility calculator on the site for this type of card and based on the 'must knows' I fit the bill for sure but when I got the results for my likelihood of success they all came up with 10% chance of success! Anyone got a clue on why this may be?

Have you checked your credit files to see how bad things really are?

Some card providers might accept people who have a CCJ/default, but may only do so if it has now been paid and was some time ago.

hurricaneangel

Thanks for your reply. Based on the criterias posted on the site I fit the bill perfectly and I have checked my files regularly and yes there is a bankruptcy order but it's 4 years ago so cannot think what else could be giving me a low chance of success.

bigadaj

hurricaneangel wrote: »

Thanks for your reply. Based on the criterias posted on the site I fit the bill perfectly and I have checked my files regularly and yes there is a bankruptcy order but it's 4 years ago so cannot think what else could be giving me a low chance of success.

Think the bankruptcy might possibly have a minor effect!

This will drop off in two years time after which you will have a better chance, though some institutions ask if you have ever been bankrupt.

Superscrooge

You should have mentioned the bankruptcy in your original post.

It's frustrating when people ask for advice but don't disclose the most relevant bit of information!

A bankruptcy on your credit history will have a huge effect on your ability to obtain credit until it drops off your file.

john1002

The bankruptcy will have an impact but there are some companies that will accept you, Vanquis been one, but it also depends on income, if you have any credit products, your address history and probably lots of other bits we as consumers never get to know.

Good luck and report back on your progress with other eligibility checks?

John

jonesMUFCforever

hurricaneangel wrote: »

Thanks for your reply. Based on the criterias posted on the site I fit the bill perfectly and I have checked my files regularly and yes there is a bankruptcy order but it's 4 years ago so cannot think what else could be giving me a low chance of success.

Look at it from a lender's point of view - what is stopping you from running up a new credit card debt then declaring yourself bankrupt again?
You probably will have to wait until the 6 years are up before most lenders will look at you - in the meantime make sure all your current obligations are up to date and keep them that way eg mortgage/rent, council tax, utilities, and especially mobile phone contracts - don't ever argue with a mobile company - pay first argue after - you would not believe how many credit files are destroyed over piffling amounts on ''points of principle''!
Good luck.

A4445

Capital one
Vanquis
Aqua

Will accept bankruptcy, capital one has an eligibility checker to see if your elegable! Failing that you could try JD Williams for a catalog account but they charge ridiculous APR.

hurricaneangel

Superscrooge You should have mentioned the bankruptcy in your original post.

It's frustrating when people ask for advice but don't disclose the most relevant bit of information!

A bankruptcy on your credit history will have a huge effect on your ability to obtain credit until it drops off your file.

Thanks for this non-helpful response Superscrooge...if you'd read my original post you'd have seen that I stated that I fit the bill on the criteria for the cards looked at, which includes bankruptcy! My income is in excess of £55k and have no other debts at all and all current outgoings are up to date and have been ever since 2012 so as stated in my original post...I have no idea why my chances are so low as far as the eligibility checkers. PS...you have no idea what I have spent my money on so your comment at the end is also unhelpful and irrelevant! Recession, loss of spouse, business are all the reasons for the bankruptcy!! :T

m4rc

I've been bankrupt in the past so no judging from me, but absolutely the reason you will struggle to get anyhting other than the worst deals is because your bankruptcy still shows on your credit history. If you had a settled CCJ for £25 5 years ago (so all paid off) you would still find that would have an impact on your credit history, with that in mind it's obvious that writing off your entire debt with a bankruptcy order will have a huge impact on your credit file.

You can get credit, start with the subprime cards from CapitalOme, Aua, Vanquis, maybe Barclaycard (not sure) and build from there. Once the 6 years post discharge have ticked by it will I longer show on your credit history and won't have any impact, but until then, whatever the credit reference agencies say and whatever you may think the lenders will treat you as extra high risk and won't want to touch you with someone else's barge pole let alone their own. Your income and lack of per debts matters not, they all have their own criteria for people they want to lend to and discharged bankrupts don't appear on many lists.

Most today are lucky, when I went bankrupt it was for 3 years, these days it is a year and often less. My credit file was bad news for 9 years and then it took time to rebuild things.

So yea, sorry but you will struggle to get credit, go for one of the subprime cards, use it, pay it off and your file will improve ready for when your bankruptcy disappears