Sub Prime Credit Card Club

gulife

spinningsheep,

Don't worry just yet. I applied, had to phone in, got told the same. Then the next day, got a phonecall from an underwriter, who said that I did qualify, and have received paperwork today.

I'm on 19.9% / £500 Limit.

spinningsheep

thanks gulife, so all is not lost.....yet!! But on the subject of the adverse info on my credit file, is it 6 yrs from the date it was defaulted on, or 6 yrs from when the default was satisfied before the info drops off?

darcyvuqua

spinningsheep wrote: »

thanks gulife, so all is not lost.....yet!! But on the subject of the adverse info on my credit file, is it 6 yrs from the date it was defaulted on, or 6 yrs from when the default was satisfied before the info drops off?

defaults and ccjs drop off 6 years and 1 day after the date they were recieved paid or unpaid!

sscott5581

From Experian
'How long will credit account information remain on my report?


Defaulted and settled accounts are kept on our records for six years from the date of default or settlement. After this time they are automatically removed.'

If a account is settled x years after the original default the credit account will still be removed six years from original default.

Woodyrocks

darcyvuqua wrote: »

defaults and ccjs drop off 6 years and 1 day after the date they were recieved paid or unpaid!

Brilliant. Never knew that. A year more before the Natwest nasty mark on my file drops off :j

TheAnalyst

This is not strictly to do with this thread but I reckon it will be useful for anyone in here who has a current Littlewoods catalogue account and wants as many of the lovely little green 0's on their credit files as possible.

I called Littlewoods to ask them if it was ok to have more than one catalogue under the littlewoods brand (Kays, Additions, Great Universal), the woman advised you can apply for all of them if you like.

So ... I did!
Dont go to the "request catalogue" section, just click "My Account" at the top and enter your email address then click "continue". On the next page miss out the account number section and just enter name and DOB and then "continue". This will now take you through an account application and should tell you instantly.


My current littlewoods account started with a £100 limit and is now at £1400 after about 2 years.

Littlewoods Direct - applied - accepted - £750 limit
Kays - applied - accepted - £750 limit
Great Universal - applied - accepted - £750 limit
Marshall Ward - - applied - accepted - £500 limit
Empire Stores - applied - accepted - £750 limit
Additions Direct - - applied - accepted - £750 limit

Now I know people are going to think what on earth does he want with another £4000 of catalogue credit!

I'm going to make a small purchase on each catalogue and pay it in full next month leaving a £0 balance, my experience of Littlewoods is that once you have placed an initial order they report back account conduct green 0's to the CRA's regardless of wether or not you actually order from them again, each of these catalogue's will be reported as a seperate credit account on your files.

I reckon run these new catalogue accounts, my Vanquis, Cap One & new MBNA for 12 months then cancel them (so not to have too mcuh credit showing as available) and I'll be very much in "excellent credit rating" territory as I have no defaults, CCJ's or late payments anymore (had 4 defaults and a CCJ removed), just about 50 previous searches in the last year!!! :rotfl:


As I said, nothing to do with credit cards but I know lots of people here have Littlewoods accounts and as long as they have been run well I reckon you will be accepted for the others too... fantastic credit building tool if you are careful and use them wisely!

Hope this is of some use to people. :beer:

spinningsheep

Ive just done exactly the same thing!! I have a catalogue with EVERY shop direct brand and with next as well, my total available credit is over £5000 but im only using about £500, hello rows of little 0's!!

TheAnalyst

spinningsheep wrote: »

Ive just done exactly the same thing!! I have a catalogue with EVERY shop direct brand and with next as well, my total available credit is over £5000 but im only using about £500, hello rows of little 0's!!

How long ago did you do that and have they popped up on your credit files yet?

louiser123

hi all,
this is just a im wondering thing rather than a question i think,

i have been reading posts on the credit cards section and i think i may be totally out of touch with the limits that are given out these days.
i know im in the sub prime club just have cap one and aqua with the usual limits 300 and 250 only new to them so hope to have increases soon.

but i was really shocked whan i read in a fair few posts that people moaned at the limits they had got ie poor limit of 5000, teribble limit given of only 8000! :eek:

do they really give these out these days hell if i got a card with alimit of 1000 i would think oooh my status is very good!! just wondered if its just me??

spinningsheep

hi the anylyst, ive had one for over a yr and the others just a few weeks so too early to tell, but it cant do any harm i shouldnt think!