Effect of the credit crunch

[Deleted User]

danthemoneysavingman wrote: »

how did this go?

I havent recieved the card yet, but will keep you posted

Btw having a think the other day i switched my current account last year so perhaps capital marked me down on loyalty.

danthemoneysavingman

bargains83 wrote: »

It stated in the terms of the credit agreement I signed that thy reserved the right to consult a credit reference agency to further assess the application such as to set a credit limit and would supply data of the ongoing account to the agencys. So I did agree to this but nethertheless they didn't do any form of fresh search anyway.

My understanding of the monthly feeds supplied from the agencies is that they are not as detailed as a full blown credit search initially provides. I.E they will only get basic data on accounts which I hold with other institutions.

This is not true in all cases, and indeed has become rarer in recent times. A fair number of major institutions now share full data (which includes balance and limit information) through the bureaux, hence from the monthly feeds they see more about you than from an application search...

bargains83

Got my abbey card today which was from the 'guaranteed acceptance' application. The credit limit is £3k. Not bad at all in my eyes. Its the biggest limit i've ever been given at the start of opening a card. For all the complaints about abbey that appear on here & the current account board, I have to say im impressed. Its taken them just over a week to open an account, transfer a balance, send me the pin and the card.

udydudy

bargains83 wrote: »

It stated in the terms of the credit agreement I signed that thy reserved the right to consult a credit reference agency to further assess the application such as to set a credit limit and would supply data of the ongoing account to the agencys. So I did agree to this but nethertheless they didn't do any form of fresh search anyway.

My understanding of the monthly feeds supplied from the agencies is that they are not as detailed as a full blown credit search initially provides. I.E they will only get basic data on accounts which I hold with other institutions.

As long as the gauranteed offers are from organisations where you hold some type of accounst they have a full view of your current credit file ona nromal basis not necessarily monthly.

I was offered a credit card from a lender where I held a mortgage account so theyknew I had paid my account on time in the last 30 months and also get a full update due to that account from the credit reference agencies. On the form they only wanted my sign and conirmation of my name and address. no salary details.

[Deleted User]

Halifax didnt want to know, they said they would only put it up after 6 months despite me explaing i was actually better off then when they gave me a higher limit. Anyway managed to get a 12K limit on a egg card and am using that and closing down the halifax :-) . I think I shall be heading for mbna the year after as they give good limits.

Halifax are obviously just tight botty scottish gits lol.