Hello! Help in removal of defective default from credit record

[kraygerson]

Re: Hello! Help in removal of defective default from credit record

I see.

I actually hold 4 Nationwide accounts, 2 of which are largely unused. The 5th is NatWest, also largely unused.

None of them are 'full' accounts.

So, what do you think: how best to break the catch 22?

[Never-In-Doubt]

Re: Hello! Help in removal of defective default from credit record

Yep - lack of credit! Same old catch 22, you don't have any so will struggle to get any!

You say 5 bank accounts, are any of them "full" accounts? If so who with...?

[kraygerson]

Re: Hello! Help in removal of defective default from credit record

No. The default is not doing that.

There is something else, dunno what but it's something.

From credit file;

How Many searches have you got showing?
How many live accounts show?
How much debt are you in, ie add up all your limits then add up all your current balances - both figures
How long you lived at your address?
How long shows on electoral register, ie length of residency in years

That'll help me advise better

Okey croakey, here goes:

Number of searches shown (last 12 months): 7 (2 unrecorded enquiries, 4 insurance quotations, 1 MBNA credit card application)

Number of accounts: 7 (1 credit card, 5 bank accounts, 1 defaulted account)

Total debt: erm, well I only have the one credit card, with a £600 limit. Current balance is probably not far off that. I have no overdrafts. The only other debt is the recorded default amount, which displays as £1281 (default amount) and £1558 (current balance).

Time at current address: 13 years

Can you see anything obvious there?

[Never-In-Doubt]

Re: Hello! Help in removal of defective default from credit record

No. The default is not doing that.

There is something else, dunno what but it's something.

From credit file;

How Many searches have you got showing?
How many live accounts show?
How much debt are you in, ie add up all your limits then add up all your current balances - both figures
How long you lived at your address?
How long shows on electoral register, ie length of residency in years

That'll help me advise better

[kraygerson]

Re: Hello! Help in removal of defective default from credit record

Yes, I checked my Equifax report. It's the same as Experian; the only adverse entry is the default I mentioned before. Same dates.

I tried the Barclaycard eligibility checker - albeit afterwards. The price of doing too many things at once, I'm afraid. It indicated that I would not be eligible.

That default seems to carry a lot of weight, despite its age.

[Never-In-Doubt]

Re: Hello! Help in removal of defective default from credit record

Sygma search Equifax; have you seen your equifax report lately?

I thought I suggested you go to barclays and try their pre application checking tool?

[kraygerson]

Re: Hello! Help in removal of defective default from credit record

I took the plunge - applied online for the flybe card.

Rejected.

If these guys are one of the easier, that definitely can't be good. It seems that for me, that single default is still going to prove pretty damning. There really isn't anything else adverse.

I don't think I'll try any others.

If I can't get this thing removed, there's probably no chance of getting significant (if any) credit until September 2013.

[Never-In-Doubt]

Re: Hello! Help in removal of defective default from credit record

Yep it's a stage 2 account. They credit risk you and it goes from cashcard to basic to full even though all offer similar features.

I'd look to open a new full bank account somewhere before worrying about credit cards. Try barclays or Lloyds for ease.... I hate them both but they are easiest so I'm not recommending them but I'm saying they are easiest to get a bank account with.

[kraygerson]

Re: Hello! Help in removal of defective default from credit record

Ah ... it's purple. So I guess that means I still have a naughty account.

Bottoms.

[Never-In-Doubt]

Re: Hello! Help in removal of defective default from credit record

Is it a blue visa debit or purple visa cashcard+?

Don't try NW - they are hard especially if you don't have a full account (blue card)...

[kraygerson]

Re: Hello! Help in removal of defective default from credit record

I bank with Nationwide. I have a Flex account, which initially started as a basic account with just a cash card, but as they seem to have revamped these, now has a debit card also.

So, I'm not 100% sure whether it's regarded a basic or full account now.

I'll give it a go with Nationwide today. Nothing to lose, eh?

[Never-In-Doubt]

Re: Hello! Help in removal of defective default from credit record

M&S will be upto £2k limit whilst sygma bank flybe card comes with max of £5k but starts at £1k usually then you can get a 33% increase every 3 months if you ring them.

[Never-In-Doubt]

Re: Hello! Help in removal of defective default from credit record

Basically try your bank first (who do u bank with and is it a basic or full account)? Then try barclays, sygma bank (flybe credit card) & m&s are all easy.

[kraygerson]

Re: Hello! Help in removal of defective default from credit record

Yes, that makes sense.

It might be worthwhile testing the ground by applying for another credit card. I've had a Capital One card for a good few years and never had a missed or late payment recorded.

I'll certainly give MBNA a miss, based on what you've said. Of course, it would be good to get one with a balance transfer incentive.

As far as you know, are there any others who are particularly harsh with their credit scoring?

[Never-In-Doubt]

Re: Hello! Help in removal of defective default from credit record

For instance we know that M&S (issued by HSBC) only do a 2 year search as they only need your last 2yrs address history! Amex used to ask for 5 years but mainly, its 3 years!

Some catalogues ask for one year, others ask for 3 years.....