Monument Visa

PROLIANT

I must say there is so much bad press on here reference "Sub-Prime" credit cards, people should get their facts straight first and should their "perfect" credit rating become tarnished some day I wonder if they would choose the Monument card, Vanquis or Capital One etc. I cant get the generous offers from MBNA and Egg etc because of my credit score being low, no ones fault but mine to a certain degree but never the less the fact that the like's of me can get a credit card from the latter sub prime lenders is a good thing. One thing I have noticed is that the people on the internet who grief sub prime lenders walk around with 0% Gold and Platinum cards in their back sky-rocket, never seen many Capital one or Monument etc customers complain, only when they don’t pay on time and get charged for not managing their money properly and then "oh look out here come the compo brigade!"
As a final thought if any of the sub-prime card companies are reading, thank you.

Lula-Hula

Hi proliant,

sorry you're having a bad time getting credit, the reason i told you about my experience is that i applied for the providian/monument/barclaycard for the same reason as you.

I am merely trying to warn you that in my experience they were quite happy to continually increase my credit limit based purely on the fact that I was paying the minimum payment without any trouble. When i applied for the card i had a low income & at no point did they ever contact me to ask whether that had increased, so in my opinion the limit was increased out of all proportion to my means. I absolutely admit that I didnt have to spend on the card which is why I am paying it back myself asap rather than going through a debt management company ( free or otherwise).

If you are quite happy to pay about 30 % interest on your purchases then go ahead, if on the other hand you are able to pay the balance each month then I wonder why you are applying for a card in the first place ? Surely you would be better off by saving for what you want .

Either way I wish you luck

Lula

PROLIANT

Lula-Hula wrote: »

Hi proliant,

sorry you're having a bad time getting credit, the reason i told you about my experience is that i applied for the providian/monument/barclaycard for the same reason as you.

I am merely trying to warn you that in my experience they were quite happy to continually increase my credit limit based purely on the fact that I was paying the minimum payment without any trouble. When i applied for the card i had a low income & at no point did they ever contact me to ask whether that had increased, so in my opinion the limit was increased out of all proportion to my means. I absolutely admit that I didnt have to spend on the card which is why I am paying it back myself asap rather than going through a debt management company ( free or otherwise).

If you are quite happy to pay about 30 % interest on your purchases then go ahead, if on the other hand you are able to pay the balance each month then I wonder why you are applying for a card in the first place ? Surely you would be better off by saving for what you want .

Either way I wish you luck

Lula

I normally pay in full every month but I have a plan, this will strengthen my credit rating and I will always have the option to spread the payments if I choose to do so, my partner and I are going for a mortgage next year so I need the best possible credit score to get the lowest interest rate.

Lula-Hula

Hi Nickx,

Yep, you are absolutely right, the usual thing is to pay off the highest apr / balance first. I however have zero savings & my reasoning is that should I need to use a credit card for any emergency ( yes, i now know that emergency means something such as car repairs rather than new jeans or boots ) then i would rather use the card with the lowest interest rate.

Having finally got up courage to view credit report I am now going to try switching to a lower rate card... but thanks for pointing that out to me anyway, good to know you old timers are keeping tabs on we newbies

lula

Lula-Hula

Sound plan Proliant,

I do understand why you're doing it, just dont let all that lovely credit get you dizzy & remember, they're not lending it to you to be nice, they want your money & will try to entice you so be strong & smart. Use them & dont let them use you to earn money

good luck
lula

Bismarck

hi, I was amused a while back when my card with the biggest limit, Marbles was pronounced sub-prime in an article....it never used to be and I'm not sure it really matters...all I really care about is what it can do for me.....

if an MBNA card goes from 15% to 34.9% doesn't that make it sub-prime?...if Barclaycard decide that you should be at 29.9% or whatever doesn't that make it sub-prime?....it's not the card, it's the contract/deal that you have in place that matters and if I have a card that is officially sub-prime but dong what I want it to do for me then I'm really not bothered what it's called.

clio

Nee scooting off down the bigg market P with your CC in your jacksy..
I,ll be watching lol...;)

PROLIANT

clio wrote: »

Nee scooting off down the bigg market P with your CC in your jacksy..
I,ll be watching lol...;)

Na, wor lass l not let us! :beer:

clio

She knows the score eh lol

Karma67

Bosie wrote: »

Just curuious and had a look at their application, it is a short form but it asks for a 'works' number. So it doesn't seem open to anyone retired.

I stumbled across this thread and thought i would apply, Ive been trying to rebuild my credit rating for a few years..got Cap One card and Vanquis, no defaults on these account tho i do have an old satisfied default due to come off in June from old bad ways lol......anyway back to my comment.....

I put my home phone number in again for a works number..and got accepted

HTH