Where can I get CC with my poor rating (noddle 526)?

bear70

Hello Everybody

I didn't think that I would be able to get a CC but (much to my surprise)
I've just been accepted for a Paypal VCC. This has a limit of £800.

Now I'd like to try and use CC debt to fund a business so I want to apply for another somewhere else.

So I would like to ask the group for their suggestions. Does anyone
know of any providers who are more "willing and eager" to give
out cards? Obviously they'll charge more APR but I can live with the higher charges.

tia

Bear

Anthorn

By VCC do you mean "Virtual Credit Card" and by that do you mean "Paypal Credit"?

Paypal Credit reports to CRAs so perhaps wait until the effect of it kicks in on your credit history. Until then pay on time and don't go over limit and abide by your agreement. If you don't it will be the worst thing to ever happen to your credit history!

Overall your credit history is not exactly the best thing since unsliced bread and you're looking for more debt on a credit card? Rebuild your credit history first with other forms of credit - 1 month contract phone, catalogue, Argos card, etc. It could be a long road!

Candyapple

I didn't think PayPal offered credit cards?

Your 'score' means nothing and has no bearing on what cards you are eligible for.

You mention you have a poor rating - do you have defaults, CCJs, late payments?

Are you on the electoral roll?

How much debt do you currently have on credit cards, loans, finance etc?

Annual salary?

Have you made lots of credit searches lately?

Have you checked your credit files with Experian and Equifax too? What shows on there?

The subprime credit card companies that I know of are Capital One, Vanquis, Aqua and I think Tesco offer a card too.

bear70

Anthorn wrote: »

By VCC do you mean "Virtual Credit Card" and by that do you mean "Paypal Credit"?

Actually probably not a VCC in the traditional sense.

Paypal push this like a "Paypal credit card". But they don't actually send you a card in the mail.

You can only use it when a merchant accepts Paypal. Instead of using funds from your PP balance you can select the credit card option and put the purchase on your account.

And they also offer some kind of installment option with selected merchants. I think you can buy something online and pay in installments using your credit card.

To be honest I'm not sure how it all works yet.

Best Regards

Bear

quackers82

http://www.capitalone.co.uk/creditcards/credit-card-eligibility-checker.jsf

That will tell you 100% if they will accept you.

bear70

Candyapple wrote: »

I didn't think PayPal offered credit cards? You mention you have a poor rating - do you have defaults, CCJs, late payments? .

When I check Noddle the only thing that I can see is dated 2011. This is for a credit card default for £2100. For a card that I had previously held for 10 years

.

Are you on the electoral roll?
.

Not according to Noddle but I have recently joined. Only in the last month or so likely this has yet to update.

.

How much debt do you currently have on credit cards, loans, finance etc?.

Nothing really. Just things like my bills, rent, car insurance etc.

.

Annual salary?
.

Officially around 13K

.

Have you made lots of credit searches lately?
.

According to my search history only one in the last few months.

.

Have you checked your credit files with Experian and Equifax too? What shows on there
.

no

.

The subprime credit card companies that I know of are Capital One, Vanquis, Aqua and I think Tesco offer a card too..

Thanks for the suggestions.

Bear

Candyapple

If your default is from 2011, you may be better off waiting until next year when it will drop off and your credit file goes back to normal before applying for credit elsewhere.

Dekiany

bear70 wrote: »

Actually probably not a VCC in the traditional sense.

Paypal push this like a "Paypal credit card". But they don't actually send you a card in the mail.

You can only use it when a merchant accepts Paypal. Instead of using funds from your PP balance you can select the credit card option and put the purchase on your account.

And they also offer some kind of installment option with selected merchants. I think you can buy something online and pay in installments using your credit card.

To be honest I'm not sure how it all works yet.

Best Regards

Bear

That is correct, Paypal also gives you 0% for 4 months on any purchase that is made which cost £150 or more

circuit

Just a word of warning re: PayPal credit. If you use the interest free option, and then spend on something else, any repayments you make will pay off the interest free balance first. I don't think this is made clear on the website.