Vanquis - 5th Month Limit Increase
Comments
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Sorry lol :rotfl:
It's a normal Cap One card not credit builder card so I think the limits work differently. They won't increase anymore tho I must have reached the limit of what they think I can afford. I hardly ever use the card anymore.
In good news, I was accepted this morning for an Addison Lee - Personal Account, where you take rides and then pay the invoice a month later. It is still considered credit as you're borrowing the service charges until the invoice date.
When she said on the phone "I am going to conduct a quick credit check" I thought, oh gosh it will be so embarrassing if I am declined over the phone :rotfl:
Luckily, she said it was completely fine and the account was opened immediately. It is weird how they said everything was perfect for their credit check, but everyone else like Capital One says otherwise.Advice provided from this account does not consist of any professional knowledge. For professional debt advice, please contact either National Debtline or StepChange. Advice may consist of personal experience, opinion and/or informational sources.0 -
Does having between 12 and 15 hard searches on your credit file, between August and January, hinder your chances of receiving credit?
As time goes on, does the negative impact of multiple hard searches fade or do you have to wait the full 12 months for them to be hidden and no longer a burden?Advice provided from this account does not consist of any professional knowledge. For professional debt advice, please contact either National Debtline or StepChange. Advice may consist of personal experience, opinion and/or informational sources.0 -
Hard searches yes as it makes you look desperate (and potentially failing to get credit) to other lenders0
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Hard searches yes as it makes you look desperate (and potentially failing to get credit) to other lenders
Not all of them was intentional.
Addison Lee performed three hard searches over the course of 3 days, despite the women performing one over the phone - I didn't consent to a credit check until our phone call this morning.
Wonga I have tried 5 times to receive a loan since October and each time declined. I should have stopped attempting after the second time, but "once bitten twice shy" is something I am bad at.
Satsuma Loans approved both applications for a loan over the course of 2 months, so those two hard searches were not wasted.
All other hard searches would be Capital One, which was successful, Vanquis which was successful and Aqua which was successful.
Not all hard searches were wasted, only Wonga primarily.Advice provided from this account does not consist of any professional knowledge. For professional debt advice, please contact either National Debtline or StepChange. Advice may consist of personal experience, opinion and/or informational sources.0 -
I would give it a rest now - especially if you're looking at payday/short term loans
These are viewed more negatively than normal0 -
Payday loans are really bad to have on your credit report, lenders view them negatively. You've had a large amount of credit searches, leave it at least 6 months before any more applications!0
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Payday loans are really bad to have on your credit report, lenders view them negatively. You've had a large amount of credit searches, leave it at least 6 months before any more applications!
The loan shows as "Provident" rather than "Satsuma Loans" and is a loan spread over 12 months, so it would be malpractice for a lender to consider it a short-term cash / payday loan.
I will stop adding hard searches now, unless I am pre-approved and guaranteed to be accepted for something, in which case it would outweigh the extra search record negativity.Advice provided from this account does not consist of any professional knowledge. For professional debt advice, please contact either National Debtline or StepChange. Advice may consist of personal experience, opinion and/or informational sources.0 -
Wonga I have tried 5 times to receive a loan since October and each time declined. I should have stopped attempting after the second time, but "once bitten twice shy" is something I am bad at.
Satsuma Loans approved both applications for a loan over the course of 2 months, so those two hard searches were not wasted.
All other hard searches would be Capital One, which was successful, Vanquis which was successful and Aqua which was successful.
Not all hard searches were wasted, only Wonga primarily.
This might explain why Vanquis hasn't offered to up your limit yet.
If I were you I'd stop applying for credit and find a new hobby to keep me occupied for the next year or so. :rotfl:0 -
This might explain why Vanquis hasn't offered to up your limit yet.
If I were you I'd stop applying for credit and find a new hobby to keep me occupied for the next year or so. :rotfl:
In your opinion, do you think the amount of hard searches recorded between July - January has wrecked my chances of receiving credit for the next 24 months?
Experian hold the data for 12 months and Callcredit for 24 months. A lot can happen in 2 years, do searches really burden your chances for that long?Advice provided from this account does not consist of any professional knowledge. For professional debt advice, please contact either National Debtline or StepChange. Advice may consist of personal experience, opinion and/or informational sources.0 -
I believe they are most damaging for the first 6 months and decrease after that. It will affect you in the short term but not for 24 months. That loan you have is very expensive the APR on their website is showing 990%. If you can't try and pay that back ASAP.0
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