Sub Prime Credit Card Club

Woodyrocks

clio wrote: »

isnt that a myth about if you pay your balance of in full then they wont rasie your limit and if you dont pay your balance of in full then they will raise your credit limit ??

I would love to find out without having to give any of my hard earned money to the provident man aka Vanquis but think I might leave £10 on the balance account for the next couple of months and see if it makes a difference

Thinking maybe 6months is long enough to apply for a new sub prime card anyway and see if that is any different.

cifpower

Well I have been paying my Vanquis off every month since I got it in April but last month I only paid off £150 leaving £94. Hopefully paying interest this month will encourage them to up my limit

quick-smart

I'm new here, so hi every one

I have both a Vanquis and an Aqua card, both of which have increased my limits approx once every four months that I've had the card.

Had the Vanquis one for about 18 months now, so yesterday I thought I'd try and apply for a credit card with a lower interest rate. Not even anywhere near shifting to a 0% card yet, but have been accepted for a Barclaycard inital at 27.9%, which is quite a bit lower than Vanquis and Aqua . Think one is about 39% and the other is 34% Hopefully going to balance transfer the more expensive one to Barclaycard, continue paying the maximum I can afford and therefore end up paying off my debt a whole lot faster.

Will also hopefully enable me to then close the old card, thus improving my credit score again. It's taken over two years now but paying off my debts on time and more than the minimum is obviously having an impact on my credit rating, I started out only being able to get a £150 limit with a catalogue company!

As a side, have not only capped my energy prices last weekend, but managed to do my Mum's last night too, took over an hour online cos the site was so slow but it's moneysaving all round in my family at the moment

Shaz x

Tori_Bellatrix

Woodyrocks wrote: »

Hi Tori,

Have you been paying off the balance in full each month?

I did the 1st month but not the 2nd month .. I find it quite strange it's been raised so quickly .. not that I'm complaining ... :j

clio

What limit did barclaycard give you if you dont mind me asking??
and welcome to the MR P,s mad big house on the hill lol...:)

quick-smart

ah, that is a good question!

The answer is that I don't know yet! But anything is better than nothing. Even if it's only £500, that's still a £60 saving provided I can pay it off over a year!

I should know in the next few days, most likely next week now though. I'll let you know.

From my point of view, it's still a good sign as it shows my credit file is sorting itself out. Really frustrating that after 5 years of running my accounts well, 6 months of problems has taken another 2 years to even start to sort out!

Shaz x

PROLIANT

Evening all, whats the word on the street then?

clio

Aye quick smart well done you are on the road to an 0% apr card.

PROLIANT

Just found out some inside information from the Co-Op bank, they knocked me back for a Current Account and the nice underwriter told me that they use the Experian scoring system for credit scoring new applications, they score you out of 1000 and their score is pretty high too.

dallas..

Hi everyone, I really love this site and have been reading posts on here for several months and today have registered as a member.

JJB staff invited me to sign up for their card whilst I was shopping in their store early Dec last year. The card actually arrived mid Jan 08 and with a credit limit of only £250.
After 7 months of having the card, paying off the balance in full every month and not receiving any credit limit increase after 6 months I telephoned their dept in Birmingham to enquire.
I was told that their credit limit increases were not automatic and that a customer had to phone in to request an increase. And this is allowed every 4 months.
I asked if I could have a credit limit increase, to which they agreed - however they said any increase could only be by 30% of my current credit limit. So now my card limit is £325. In 4 months time in Nov, I can have another 30% increase credit limit on £325.....and so on.

My question again - Are Sygma/Creation Sub Prime Lenders?
Do they always give initially only £250 credit limit to new customers?
Why do you have to phone in and request an increase?

btw, I used to have bad credit history years ago, but thanks to the likes of Capital One and Barclaycard Initail they have helped me to rebuild my credit rating. I now have 2 mainstream credit cards and an Alliance & Leicester Premier Account, so my credit rating is not that bad now to Sygma...or is it??