Capital One - Been accepted - Now what?

Leigh73

Careful_with_that_Axe wrote: »

Thank you for the info Rob, has given me some food for thought. Not sure if I could do it though - have been quite "damaged" from being so hard up and in debt for so long and was only paid off by legacy from Mum. Has left me risk averse and extremely debt averse. Saying that, I did only pay minimum by DD month before last as had a 3 week cash flow problem before something matured.
Thanks again for making me think

'careful',

You sound admirably sensible. Good on ya! :beer:

PS- I LOVE your signature, hilarious! :j

Careful_with_that_Axe

Thank you Leigh, however, I think sensible and the sig don't really go hand in hand!

Leigh73

Careful_with_that_Axe wrote: »

p.s. sorry to have momentarily hi-jacked your thread Leigh! Do post back when you get the card coz I'm nosy and want to know what credit limit you get!

No problem.

I'll keep you posted!

Leigh73

Careful_with_that_Axe wrote: »

Thank you Leigh, however, I think sensible and the sig don't really go hand in hand!

That's partly why I like it!

Leigh73

Snooze wrote: »

OSIS = Operator Services Information System. Basically, the BT Phone Book / Directory Enquiries. You're more attractive to lenders if you've got a landline and are listed in the directory.

ACORN = A Classification of Residential Neighborhoods. http://www.caci.co.uk/acorn/. Lenders use this info to get a general picture of the type of person you are. The ACORN site gives each postcode in the country it's own rating. The posh areas with a lot of wealth will receive a low ACORN number (this is what lenders want) whereas the poor areas where there is a lot of crime etc will get a high number (= bad for obtaining credit).

You have to log-in to find out your rating so you'll need to register, but it only takes about 30 seconds to do and get your pass-key. Once you've registered, click on "ACORN type" and then key in your postcode. When the results come up click on the bottom button "find out the financial ACORN type" and that will then give you your ACORN rating.

I wouldn't worry too much about your ACORN rating though. On one of my previous properties it was really low at 41 (41 = low income workers, struggling to buy) but it didn't seem to affect my acceptance rates nor credit limits.

:T

Rob

PS - Rob, thanks again for the above info, v helpful.

I just registered with 'ACORN", and ran the new address (postcode) which I'll be moving to next month...

It came back with...

3 Comfortably Off
G Starting Out
25 White collar singles/sharers, terraces

Not bad for a 'Housing Association' flat eh?! :rotfl:

Snooze

Leigh73 wrote: »

25 White collar singles/sharers, terraces

That's your property ACORN rating, not your financial ACORN rating. Your financial rating is obtained by clicking the 3rd 'go' button underneath. The financial figure will generally be lower (better) than the property figure.

Rob

sasp

Hi, just to let you know, I got a Capital One 5 months ago (my credit rating is rubbish). I started off with £100 which is low but after staying within my limits etc paying the balance every month, they increased my limit to £400 on my 4th statement. Yippee!!

Leigh73

Careful_with_that_Axe wrote: »

p.s. sorry to have momentarily hi-jacked your thread Leigh! Do post back when you get the card coz I'm nosy and want to know what credit limit you get!

Hi again,

Thanks to all of you on here, for the info.

Just to let you know, I received my Capital One 'Classic' Visa card last Wednesday, with a £500 limit. I was expecting £100!

Could any of you tell me, when I should receive my first statement? Is it 1 month from when I first start using the card, or on a set date every month for everyone?

Many Thanks,

Leigh.

Leigh73

As above, any ideas when Capital One send their first statement?

Many Thanks,

Leigh.

skyrider007

Hi Leigh

Your statement should be produced on the 1st of every month so you should get it by the end of next week.

Don't take my words for it but my statement date is on the 1st of every month. You could always call them and ask