We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Sub Prime Credit Card Club
Comments
-
-
Well I am off to bed so all you MSE'ers have a good one.Since when has the world of computer software design been about what people want? This is a simple question of evolution. The day is quickly coming when every knee will bow down to a silicon fist, and you will all beg your binary gods for mercy.0
-
I have one default from experian from 2004 . Is that why they all keep on saying no? A lot of searches as well.0
-
Yes mate, it should drop off in 2010, but I would try Capital one or Vanquis for a card, let the searches drop off too.I have one default from experian from 2004 . Is that why they all keep on saying no? A lot of searches as well.Since when has the world of computer software design been about what people want? This is a simple question of evolution. The day is quickly coming when every knee will bow down to a silicon fist, and you will all beg your binary gods for mercy.0 -
I have just been reading an interesting article on credit scoring and how lenders can decline applications, here is something I think people should do as an exercise today, debt to income ratio and how to calculate and what is considered as acceptable risk to a lender:
Calculate all of your monthly debt repayments that are registered on your credit file, i.e. what a lender can see then include your rent or mortgage, multiply this figure by your net monthly income and it should give you a decimal figure which you take as a percentage value.
Example:
Rent = £300
Debt repayments = £395
Total = £695
Wage = £1300
Other = £200
Total = £1500
DTI Ratio = 695/1500 = 0.46 or 46% which in lending standards is over committed, the ideal DTI should be 36% or less according to the various articles on the web.
Since when has the world of computer software design been about what people want? This is a simple question of evolution. The day is quickly coming when every knee will bow down to a silicon fist, and you will all beg your binary gods for mercy.0 -
I have just been reading an interesting article on credit scoring and how lenders can decline applications, here is something I think people should do as an exercise today, debt to income ratio and how to calculate and what is considered as acceptable risk to a lender:
Calculate all of your monthly debt repayments that are registered on your credit file, i.e. what a lender can see then include your rent or mortgage, multiply this figure by your net monthly income and it should give you a decimal figure which you take as a percentage value.
Example:
Rent = £300
Debt repayments = £395
Total = £695
Wage = £1300
Other = £200
Total = £1500
DTI Ratio = 695/1500 = 0.46 or 46% which in lending standards is over committed, the ideal DTI should be 36% or less according to the various articles on the web.
great i am very over comited then lol0 -
Quiet on here tonight, everyone having a day off?Last Cigarette 24/6/090
-
hey guys i just want to clear something up when you have defaults or ccj or even a mix of both paid or unpaid is it only the sub prime cards that will accept you or can you get a normal card??
im just curious at the moment and bored i suppose! lol
how is everyone?you cant change yesterdaybut you can make tomorrow better0 -
hello chris, nowt much happening today, what you been up to?Since when has the world of computer software design been about what people want? This is a simple question of evolution. The day is quickly coming when every knee will bow down to a silicon fist, and you will all beg your binary gods for mercy.0
-
Sorry mate it is a no no, until the defaults have dropped off your file then you will just get knocked back, have you asked the companies to remove the defaults and ccj's as they are now settled?darcyvuqua wrote: »hey guys i just want to clear something up when you have defaults or ccj or even a mix of both paid or unpaid is it only the sub prime cards that will accept you or can you get a normal card??
im just curious at the moment and bored i suppose! lol
how is everyone?Since when has the world of computer software design been about what people want? This is a simple question of evolution. The day is quickly coming when every knee will bow down to a silicon fist, and you will all beg your binary gods for mercy.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.1K Banking & Borrowing
- 253.6K Reduce Debt & Boost Income
- 454.2K Spending & Discounts
- 245.2K Work, Benefits & Business
- 600.8K Mortgages, Homes & Bills
- 177.5K Life & Family
- 259K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards