Credit Crunch Credit Card Declines?

PROLIANT

Volcane wrote: »

Damage already done but I don't actually *need* any credit til August 09 now so am leaving it a full clear year now for the searches to drop off, a few more green zero's to build up and a few more settled accounts to go on file when I close some of my cards.

If I don't get repeat deals then all cards except my Egg Money will be closed down by 31st May 09 at the latest, some many months earlier.

Still awaiting decisions from Abbey and Lloyds and if I get them then it'll be a couple more stoozes but if I don't it's no loss.

I'll be restarting the stooze in Sep/Oct09 then. :eek:

My plan is in place for August 2009, whan all of my searches have dropped off and I also have a couple of on my file I want to have a go at this stooze carry on, I was working this out the other day and to make a living of stoozing you would have to stooze £250K + which would make you around £17K pre tax profit, I dont think anybody could stooze that much though?

nzseries1

PROLIANT wrote: »

...I was working this out the other day and to make a living of stoozing you would have to stooze £250K + which would make you around £17K pre tax profit, I dont think anybody could stooze that much though?

If there is anyone out there doing this, I would like to meet them and shake their hand!!!! :T

Volcane

PROLIANT wrote: »

My plan is in place for August 2009, whan all of my searches have dropped off and I also have a couple of on my file I want to have a go at this stooze carry on, I was working this out the other day and to make a living of stoozing you would have to stooze £250K + which would make you around £17K pre tax profit, I dont think anybody could stooze that much though?

No, it's more of a hobby for me and gives me some more money in the bank. I've used it to pay for an extra holiday, upgraded my hifi / home cinema and things like that. There's no way you could give up your day job.

It's strangely addictive though!

Joannef_2

Has anyone else had a referral on the Ulster card? I applied and it is saying they have to make more checks. I don't desperately need the card but just wanted a 0% for an existing small balance (about £500-£600) whilst I pay for my holiday. I haven't missed any payments on my cards and I only owe about £900 in total.

clio

Anyone no who underwrites the Saga credit card and do they give online answers or not.

nzseries1

Volcane wrote: »

...tonight have applied for the following cards in the following order :

1) Abbey Zero - referred, I understand this is normal
2) HSBC (via quidco) - decilned
3) Ulster Gold Card - accepted with £3000 limit
4) John Lewis - declined

After reading this thread, I decided to "do a Volcane" and apply for a whole lot of credit cards at once in the hope to either do some stoozing or get a moneyback credit card. Here's what I did:

1) Egg money - declined
2) Smile card - referred then declined
3) AMEX platinum moneyback - referred then declined
4) Post office - referred then declined

So needless to say I got a bit down. Then, the next week I thought I'd apply for some more, I'm bound to get rejected but I'm not planning on taking any more credit for the next 18 months anyway so what the hell. It was surprising:

1) Virgin - referred then accepted :eek: (I don't even have 3 years of address history, so I'm shocked.)
2) A&L moneyback rewards - accepted
3) Tesco CC - referred (heard nothing yet)

I was shocked that I actually got accepted after so many appications in a month. So I guess it just goes to show that companies clearly have different criteria for scoring applicants. I'm still awaiting the card limits.

Thanks Volcane for inspiring me

clio

nzseries1 was ulster an instant acceptance or did you have to wait for mail through post??

Volcane

nzseries1 wrote: »

Thanks Volcane for inspiring me

I'm not so sure you should be thanking me but if you're credit rating can take the hit then fair enough.. and the gratitude is appreciated!

What sort of credit limits did you get on your acceptances?

An update for the following :

1) Lloyds TSB - declined
2) Asda - declined

That's it for me now, will wait until my searches drop off and my stoozes are clear and my remortgage has gone through (all three will be done by Aug09) and then I will have another bash (and hopefully some repeat deals).

nzseries1

clio wrote: »

nzseries1 was ulster an instant acceptance or did you have to wait for mail through post??

Actually it was Volcane who applied with Ulster... hopefully he can tell you

Volcane wrote: »

What sort of credit limits did you get on your acceptances?

I don't actually know yet, I realise I could ring up Virgin and A+L and ask, but I like having surprises come through the mail I'll post further when I know.

nzseries1

Volcane wrote: »

... if you're credit rating can take the hit then fair enough...

I figure that my credit rating can't be that great if I got so many declines initially, but I'm not the sort of person who takes out loans, I prefer to save up for something. And I'm not planning on buying a house for at least another two years so I figured it was okay.