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  • FIRST POST
    never-in-doubt
    The Sub Prime Credit Thread - Part V
    • #1
    • 27th Jun 10, 7:48 AM
    The Sub Prime Credit Thread - Part V 27th Jun 10 at 7:48 AM
    The Sub Prime Credit Thread - Part V

    Welcome to the 5th edition of the fantastic Sub Prime Credit Thread, originally created by Proliant and followed up by CifPower. This thread contains all previous versions of the threads and all the Sub Prime deals available right now!

    Sub Prime does not mean that it is not as good, it simply means that if your credit is far from perfect, you may be accepted by one of the companies below as their credit scoring model is designed to accommodate higher risk, whereas mainstream lenders' score a lot harsher meaning you're more likely to be refused.

    Last Updated: 27 June 2010


    Previous Threads.....

    Last edited by never-in-doubt; 28-08-2010 at 12:39 PM.
Page 168
    • guesswho2000
    • By guesswho2000 3rd Oct 12, 6:39 PM
    • 1,635 Posts
    • 776 Thanks
    guesswho2000
    Evening people,

    I have had:

    Cap1 for 1 year and 4 months. (All green ticks)
    Granite for 9 months. (All green ticks)
    Mobile phone contract for 3 years and 3 months. (3 Late payments in 2010, besides that all green ticks)
    3 Bank accounts showing all green ticks,
    1 loan with unwelcome, showing 6 late payments but now all paid off, up to date and closed.
    No CCJs, 4 satisfied dafaults in 2008.

    What would my next step be? What shall i apply for next?
    Any info appreciated.

    Also have an unused JD Williams account, havent placed an order as i find their prices over the roof.
    Originally posted by Tazer1
    Go for something issued by Creation, the Flybe mastercard seems to be a good one to go for, many others have had success. The defaults and late payments may be an issue, but one search isn't going to do any harm.
    • older_wiser
    • By older_wiser 3rd Oct 12, 6:45 PM
    • 2,263 Posts
    • 3,668 Thanks
    older_wiser
    With 4 defaults that will be your main stumbling block but if you haven't applied for anything recently then go for it

    i'd say with the defaults it would be a decline it also depends on income credit to debt ratio etc.
    • Tazer1
    • By Tazer1 3rd Oct 12, 7:43 PM
    • 29 Posts
    • 0 Thanks
    Tazer1
    Go for something issued by Creation, the Flybe mastercard seems to be a good one to go for, many others have had success. The defaults and late payments may be an issue, but one search isn't going to do any harm.
    Originally posted by guesswho2000
    Thanks, yes shall give creation a try and see what the outcome is, as my last search was in december last year.
    • Tazer1
    • By Tazer1 3rd Oct 12, 9:15 PM
    • 29 Posts
    • 0 Thanks
    Tazer1
    With 4 defaults that will be your main stumbling block but if you haven't applied for anything recently then go for it

    i'd say with the defaults it would be a decline it also depends on income credit to debt ratio etc.
    Originally posted by older_wiser
    Yes, 4 defaults in 2008 may be a stumble, but all been paid off and cleared shortly afterwards.

    Not applied for anything since last december.

    Average income, with about 15% credit to debt ratio.
    • older_wiser
    • By older_wiser 3rd Oct 12, 10:53 PM
    • 2,263 Posts
    • 3,668 Thanks
    older_wiser
    I think it will be borderline but the debt to credit is good so if you do get it won't be a huge limit but thats probably not what your looking for. if you do get it your well on your way to becoming a prime member Tazer keep us udpated
    • TheGenerus1
    • By TheGenerus1 3rd Oct 12, 10:57 PM
    • 253 Posts
    • 75 Thanks
    TheGenerus1
    Thanks, yes shall give creation a try and see what the outcome is, as my last search was in december last year.
    Originally posted by Tazer1
    Let us know what the outcome was.
    • sammie28
    • By sammie28 4th Oct 12, 4:29 PM
    • 200 Posts
    • 60 Thanks
    sammie28
    Has anyone applied for the Flybe Card and got the 7-10 day response?
    How long was it before you got the acceptance / decline letter? Don't think it's looking good for me. Nothing bad on Equifax, No CCJ's Defaults or late payments. Tried ringing them to ask, but they wouldn't tell me anything, just asked me when i applied and said wait for the letter. I said 'so there is no update on your system' and he said, 'No, we have 7-10 days to respond, they will be in touch'
    • TheGenerus1
    • By TheGenerus1 4th Oct 12, 4:44 PM
    • 253 Posts
    • 75 Thanks
    TheGenerus1
    Has anyone applied for the Flybe Card and got the 7-10 day response?
    How long was it before you got the acceptance / decline letter? Don't think it's looking good for me. Nothing bad on Equifax, No CCJ's Defaults or late payments. Tried ringing them to ask, but they wouldn't tell me anything, just asked me when i applied and said wait for the letter. I said 'so there is no update on your system' and he said, 'No, we have 7-10 days to respond, they will be in touch'
    Originally posted by sammie28
    I applied 3 months ago for Flybe and got instant acceptance.

    I then applied a month later for their Creation card and got the 7-10 day message.
    I applied on a Friday and rang them on the Monday and was told that I was accepted after the underwriter had a look at what balance transfers I wanted to do.

    Call them back in a couple days.
    • sammie28
    • By sammie28 4th Oct 12, 4:50 PM
    • 200 Posts
    • 60 Thanks
    sammie28
    Thanks for your reply. I have read on here that most people that get accepted have rang up and been told it's been accepted within a couple of days! I applied 5-6 days ago and they won't tell me anything, i think it's a decline
  • BugsyBrowne
    Thanks for your reply. I have read on here that most people that get accepted have rang up and been told it's been accepted within a couple of days! I applied 5-6 days ago and they won't tell me anything, i think it's a decline
    Originally posted by sammie28
    Forgive if I'm wrong but 7-10 days means 7-10 days so why are you getting impatient after 5-6 days.
    • sammie28
    • By sammie28 4th Oct 12, 5:12 PM
    • 200 Posts
    • 60 Thanks
    sammie28
    I just hate waiting Bugsy! I was very nervous about applying for the card. Didn't know if i should cause i didn't want to get rejected. Not had a good credit rating for the last 6 years and yes i was young and stupid but i have worked hard at improving my credit rating for the last 5-6 years. Really want rid of Vanquis and Cap 1 and this card would mean i'm on my way to mainstream cards, it probably sounds stupid to you but it's important to me. Sort of feels like all my hard work has paid off, if you know what i mean.
    Again i was stupid and didn't realise what too many searches would do to my credit file, so i haven't applied for anything in the last 9 months. I don't want to get too many searches on my files again, so just really hoping i get accepted for this card.
    • Tazer1
    • By Tazer1 4th Oct 12, 5:21 PM
    • 29 Posts
    • 0 Thanks
    Tazer1
    I think it will be borderline but the debt to credit is good so if you do get it won't be a huge limit but thats probably not what your looking for. if you do get it your well on your way to becoming a prime member Tazer keep us udpated
    Originally posted by older_wiser

    Let us know what the outcome was.
    Originally posted by TheGenerus1

    Will let you know what the outcome was, shall be looking to apply early november.
    • Tazer1
    • By Tazer1 4th Oct 12, 5:22 PM
    • 29 Posts
    • 0 Thanks
    Tazer1
    I just hate waiting Bugsy! I was very nervous about applying for the card. Didn't know if i should cause i didn't want to get rejected. Not had a good credit rating for the last 6 years and yes i was young and stupid but i have worked hard at improving my credit rating for the last 5-6 years. Really want rid of Vanquis and Cap 1 and this card would mean i'm on my way to mainstream cards, it probably sounds stupid to you but it's important to me. Sort of feels like all my hard work has paid off, if you know what i mean.
    Again i was stupid and didn't realise what too many searches would do to my credit file, so i haven't applied for anything in the last 9 months. I don't want to get too many searches on my files again, so just really hoping i get accepted for this card.
    Originally posted by sammie28
    Yes i know how you feel, im in a similar boat. Hoping to get onto the prime ship soon. Fingers crossed.
  • BugsyBrowne
    I just hate waiting Bugsy! I was very nervous about applying for the card. Didn't know if i should cause i didn't want to get rejected. Not had a good credit rating for the last 6 years and yes i was young and stupid but i have worked hard at improving my credit rating for the last 5-6 years. Really want rid of Vanquis and Cap 1 and this card would mean i'm on my way to mainstream cards, it probably sounds stupid to you but it's important to me. Sort of feels like all my hard work has paid off, if you know what i mean.
    Again i was stupid and didn't realise what too many searches would do to my credit file, so i haven't applied for anything in the last 9 months. I don't want to get too many searches on my files again, so just really hoping i get accepted for this card.
    Originally posted by sammie28
    I can't honestly see Flybe turning you down TBH.
    • sammie28
    • By sammie28 4th Oct 12, 7:51 PM
    • 200 Posts
    • 60 Thanks
    sammie28
    Thanks Bugsy, hope your right.
    • sammie28
    • By sammie28 6th Oct 12, 11:40 AM
    • 200 Posts
    • 60 Thanks
    sammie28
    Well got the Rejection letter today saying that my application fell below the minimum acceptance score
    Pretty pigged off, hoped i would be in with a chance now that my Equifax file is clear. Feels like there is no hope of getting a Mainstream card.
    • TheGenerus1
    • By TheGenerus1 6th Oct 12, 5:06 PM
    • 253 Posts
    • 75 Thanks
    TheGenerus1
    Well got the Rejection letter today saying that my application fell below the minimum acceptance score
    Pretty pigged off, hoped i would be in with a chance now that my Equifax file is clear. Feels like there is no hope of getting a Mainstream card.
    Originally posted by sammie28

    When I applied for the Flybe card, I got instant acceptance. I then rang in and asked when would they suggest I should apply for another one of their cards. They told me that I was free to apply anytime I wanted, but suggested leaving it for a month, just enough time for the Flybe to show up on my credit reports.

    They also told me that the Flybe card and their Marriot card where the strictest on criteria and hardest cards to get in their range.

    They said if I was accepted for their Flybe card, I would definatly be accepted for their Creation branded cards as it has a lower criteria for acceptance and has the same benifits such as 12 months 0% on BT (dependant on how much available credit you had at that point).

    Maybe if you don't have many searches, you could try their own Creation brand card.
    • sammie28
    • By sammie28 6th Oct 12, 7:19 PM
    • 200 Posts
    • 60 Thanks
    sammie28
    I am going to ring them on Monday and ask what the exact reason was for the rejection. I'm wondering if it is too much available credit! Between my 3 catalog accounts and my 2 credit cards, i think i have approx 10,000

    Thought about asking them to reduce limits but read so many different views about it on here, i don't know what to do for the best.

    Wanted this card so i can BT from cap 1 and vanquis and then close them down.

    I will ask them if it's worth applying for one of the creation branded cards too, if you think it's worth a try. I only have that 1 search on my file in the last 9 months.
    Just read on here something about having to be on ER for 3 years at current address for a sygma/ creation card, is that right? I've only been at this address for 18 months!
    Last edited by sammie28; 06-10-2012 at 7:34 PM.
  • gezza2k
    Hi, I'm in need of a bit of advice.

    My Default finally dropped off last week, i'm now looking to get rid of the high interest c/cards and get something mainstream.

    I have an old Barclaycard account with some AP Tags (made redundant) that was settled in November 2009, no other accounts past/present have any late markers.

    I've been declined for Halifax clarity & Sygma Creation but was accepted for a Amazon MasterCard with a 1500 limit.

    Will I have to wait another 3 years to be mainstream or maybe too many open accounts (6500 available credit with amazon card).

    Currently got:
    3x Credit cards: (Aqua, Vanquis & Cap1)
    3x Bank accounts: (1xMain 2xVantages)
    1x Argos card & 1 Catalogue

    Any help would be appreciated.
    Thx

    Edit: Can you have more then 1 card from MBNA?
    Last edited by gezza2k; 07-10-2012 at 6:32 PM.
    • alfred64
    • By alfred64 29th Nov 12, 4:37 PM
    • 4,616 Posts
    • 5,761 Thanks
    alfred64
    I have moved on from sub prime but its interesting to read the thread.
    I like to think that I have put some of the sound and honest advice given on here to some use and will always be thankful for this thread and board.
    It took a lot longer than I anticipated to get from zero to mainstream - but keep at it, be very patient and eventually you will get there.
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