Queries re: Credit Approvals post bankruptcy

NewLeaf1986

Just wondering about others' experiences here.

Bankrupt 04/2019 Discharged 04/2020.

17 Defaults and 3 CCJs included in bankruptcy.
All defaults and CCJs appearing on credit files as closed and settled with £NIL balances. Had to settle one of the CCJs myself for it to be marked as satisfied but it was tiny, I don't mind.
Had Nationwide FlexBasic open for 12 months
Three mobile contract open for 17 months
Zopa credit card open for 7 months, paid in full each month £0 balance
I've two or fewer credit search footprints left against me in the last year on each Equifax, Experian and TransUnion

Financial situation today is completely turned on it's head versus two years ago.

Embarked on new relationship 10/2019
Been living together happily since 12/2019
Moved to more affluent part of the country and earning around triple what I was when declared bankruptcy
We are on target to have a 15% deposit saved for a £350,000 house by 04/2024, and equally share all our joint household costs and saving obligations
When we do purchase with a budget of £350,000 I'll have been discharged four years and our income multiple for borrowing will be 4.25 with no debt elsewhere.

I feel happy, confident and renewed about everything except for one bugbear:

I neither need nor want any more credit cards, but even Vanquis, Aqua, and Capital One pre-decline me for all their basic cards at the pre-application checker stage. My credit card hit rate (including "Bad Credit" credit cards) using online tools like the moneysupermarket credit card search tool yield absolutely nothing. Bupkiss.

I have no financial associates on any of my credit files, my OH and I share no joint accounts. We keep it this way due to his impeccable credit history helping him benefit from excellent offers of credit to constructively help with our budgeting (e.g. he needed to replace his car with one that is ULEZ compliant following our move and was able to place this purchase on a 0% credit card, which he probably wouldn't have been able to if we had a joint account of any kind. This is on target to be paid off by Christmas).

I'm just a little suprised that a year after discharge even Vanquis, Capital One and Aqua still all refuse me at the pre-application stage.

Has anyone else had similar / different experiences? Does this point to there being some other data lurking about me in a place I haven't checked that I need to address?

TinyPomegranate

I thought BR affected your credit ability for 6 years?

NewLeaf1986

TinyPomegranate said:

I thought BR affected your credit ability for 6 years?

Yes a record of the fact that someone was bankrupt remains on their credit file for six years from the date of the original bankruptcy order but that doesn't mean "no credit or accounts of any kind for six years".

Nationwide for example, are happy to look at mortgage applications from anyone who's been discharged for three years and Skipton anyone who's been discharged at least four years.

MetroBank even have a special line of mortgages available to people who were discharged from Bankruptcy only two years prior but these do mandate a minimum 20% desposit (understandably). 

Most mobile networks and utility providers aren't that fussed as long as the bankruptcy is discharged and the applicant isn't showing signs of debt stress again.

Most sub-prime credit cards advertise their cards (Vanquis, Capital One, Aqua) as being open to people who have been bankrupt but have been discharged at least six months.

My question is relating to other peoples experiences with Vanquis, Capital One, and Aqua post bankruptcy, as I found it a little odd that all of their pre-application checkers flat out refuse me a year after discharge. It's almost like there's some other information lurking that's giving these sub-prime lenders the willies which I'm unable to see and I'm looking for more input on the matter.

Newbuyer88

My husband and myself filed voluntary bankruptcy in 2014, he applied for a vanquis card about 2 years ago and was successful and I applied for a Aqua about 3 months ago and was successful so  I would definitely check your credit background just in case anything was missed off your bankruptcy and is still floating around. Obviously ours was a lot longer ago but I can’t imagine it would just be a timing thing for you

NewLeaf1986

Yeah this is why I'm wondering what's going on. Thank you.

I've trawled through my Equifax, Transunion and Experian credit files.

No financial associates or notices of correction on any of them.
All old defaults marked as satisfied from the date of discharge and default dates no latter than the date of the BR order.
All payments recieved on time for the last 25 months on all accounts.
All old CCJs recorded as satisfied with £NIL balances.

But if I ever use things like the Clear Score offers page, or money supermarket, MSE credit club, all those things, they all come back saying 0% chance of approval for any card including Vanquis, Cap One, and Aqua.

RBS group and Lloyds Banking Group won't even let me open a cash account. They close it within a couple of days of opening it. They were both lenders included in my bankruptcy so perhaps they've made a "Business Decision" to not have me back as a customer. That in and of itself doesn't concern me greatly.

"Level" card came up as a 100% Pre-Approved offer in Clearscore a few months ago too and that was also declined by Level following submission of a full application.

They are never specific on why though they just say "Based on data we collected from you during your application, credit reference agencies, fraud prevention agencies, and data we and our group companies already hold on you".

Well, that narrows it down (/sarcasm).

I don't need or want any more credit cards, but I do want to address whatever the underlying issue is here before other half and I go shopping for our forever home. 

Newbuyer88

Did you file on your own or with someone else? Ex partner or business partner? If so and it was a join application, could it be something still on their history that you are still connected to?

Newbuyer88

Some friends of ours who filed for bankruptcy (also a failed pub, the same as us -gotta love the pub trade!) 
they missed off a phone bill from their bankruptcy and they tried going after her almost 5 years later (honest mistake they just forgot to declare it on their application)

NewLeaf1986

Newbuyer88 said:

Did you file on your own or with someone else? Ex partner or business partner? If so and it was a join application, could it be something still on their history that you are still connected to?

Nope, sole bankruptcy, no joint accounts, no financial associates or aliases, no business involved. 

NewLeaf1986

Newbuyer88 said:

Some friends of ours who filed for bankruptcy (also a failed pub, the same as us -gotta love the pub trade!) 
they missed off a phone bill from their bankruptcy and they tried going after her almost 5 years later (honest mistake they just forgot to declare it on their application)

Yeah there were a couple I missed off too but they've been happy to close things off their end when I forwarded them a copy of the BR order. 

NewLeaf1986

... it transpires I have a CIFAS marker against me for having neglected to mention a previous address in an application I made some years ago.

This was a long time ago and the marker lapses in Mid-January.

Such a silly error to make. At least I understand what the cause is now and know when the data will vanish from my record.

And definitely learned a lesson about accurately reporting all prior addresses on an application form.

TinyPomegranate

NewLeaf1986 said:

Nationwide for example, are happy to look at mortgage applications from anyone who's been discharged for three years and Skipton anyone who's been discharged at least four years.

Most sub-prime credit cards advertise their cards (Vanquis, Capital One, Aqua) as being open to people who have been bankrupt but have been discharged at least six months.

I didn't know that, thanks for the info.