Can I get sub prime credit? 5 live defaults on credit file

[Never-In-Doubt]

Re: Can I get sub prime credit? 5 live defaults on credit file

I thought you said you had a good deal with mortgage?

You'll not be able to change that externally for a while. You need some history behind you first.

The credit card helps show you can manage money so good for assessing a mortgage

[SA Gold]

Re: Can I get sub prime credit? 5 live defaults on credit file

Like this....

Thing is, this is for businesses isn't it - not like normal public - is it?

Well, i applied as a sole trader electrician (what i am going to be training for). I haven't checked Experian but guess they were happy to process the application. I guess its created for the trade because they are always in there but don't really care who you are as long as you buy your stuff from them!

[DaveyBoy]

Re: Can I get sub prime credit? 5 live defaults on credit file

My deal is great but unfortunately my house is getting to small for the kids and we dont want them sharing a room. I cant extend or go into the loft so will need to move at some point. Got about 65k equity in a house worth 165 but to get another bedroom i'd need another 35k min to 55k max to keephandy for school etc
Thanks again

[DaveyBoy]

Re: Can I get sub prime credit? 5 live defaults on credit file

Ok so they can still try and enforce at a later date so if I was you I would look to make an application to HSBC asap if you do want to move there.

If anything go into branch and just say you're thinking of moving your mainstream banking there as you are a mortgage customer and ask them to perform an account review to see if you're pre-approved for any banking facilities.

That's what I would do right now... you never know, you could be pre-approved for a £10k credit card

But deffo apply to Vanquis and Capital one as above in my earlier post.

Tried vanquis today. Put in all the relevant details and hit the process application button. A short while after I get an error message saying 'an errors occured in the processing' and the website crashes. Unsure as to what to try I start again from scratch but before I get to the process page I'm redirected to another page telling me they have mixed news and are unable to offer me credit however if I think their record are wrong I can continue my application. At this point I abort! Not sure if I've been rejected outright or whether I'm currently going through their manual reviewing process on my first application which takes 10-14 days as per post 5 of missys thread http://forums.all-about-debt.co.uk/s...ead.php?t=8298

Bloody Computers!

I also have tried the HSBC today. Tried asking about moving my banking to where my mortgage is but the greeter told me I needed to book an appointment and wasn't able to help me any further however was quite quite happy to tell me all about the monthly fee with benefits current account and their current mortgage deals neither of which I wanted to know about

Will update should i get any further response off Vanquis

Cheers

[The Tech Clerk]

Re: Can I get sub prime credit? 5 live defaults on credit file

Tried vanquis today. Put in all the relevant details and hit the process application button. A short while after I get an error message saying 'an errors occured in the processing' and the website crashes. Unsure as to what to try I start again from scratch but before I get to the process page I'm redirected to another page telling me they have mixed news and are unable to offer me credit however if I think their record are wrong I can continue my application. At this point I abort! Not sure if I've been rejected outright or whether I'm currently going through their manual reviewing process on my first application which takes 10-14 days as per post 5 of missys thread http://forums.all-about-debt.co.uk/s...ead.php?t=8298

Bloody Computers!

I also have tried the HSBC today. Tried asking about moving my banking to where my mortgage is but the greeter told me I needed to book an appointment and wasn't able to help me any further however was quite quite happy to tell me all about the monthly fee with benefits current account and their current mortgage deals neither of which I wanted to know about

Will update should i get any further response off Vanquis

Cheers

Banks etc they are all at it, ask a question and straight away afterwards have a credit card, or insurance with us, how did you rate your response to your question 1 to 10.

[The Tech Clerk]

Re: Can I get sub prime credit? 5 live defaults on credit file

Banks etc they are all at it, ask a question and straight away afterwards have a credit card, or insurance with us, how did you rate your response to your question 1 to 10.

#
Vanquis also advertises Granite same people.

[ken100464]

Re: Can I get sub prime credit? 5 live defaults on credit file

I also have tried the HSBC today. Tried asking about moving my banking to where my mortgage is but the greeter told me I needed to book an appointment and wasn't able to help me any further however was quite quite happy to tell me all about the monthly fee with benefits current account and their current mortgage deals neither of which I wanted to know about

Wonder if Banks are like supermarkets and once one starts down a new route the others follow like sheep.

Thats the sort of way that got them all these miss selling scandals.

If we joe public wanted x y or z dont they think we would come in asking for x y and z just as you have.

Be interesting what my next experience in Barclays would be. Last one just to pay a cheque in for xmas money for my kids and come out after the hard sell on mortgages, fee paying current account and saving products.

I am a savy internet banker and just used the branch to pay a cheque. I didnt want x y and z and my experience was I dont want to use that branch in a long time again.

So when I do need something Barclays wont be my first stop next time. They just cant see it can they.

[julian]

Re: Can I get sub prime credit? 5 live defaults on credit file

But is it on their screen, as they are internet bankers too. The same happens in the Post Office. Once they start a transaction they get the pop-up and they need to respond.

The marketeers consider it a value add. They just spread it all over the network without regard for individual branches. Marketing should involve some research and some refinement in choosing the audience.

From experience, these marketing execs that come up with the ideas are 12 year-olds who have never even used a branch office. The idea looks good on paper, but practice is bad.


Got another invitation form Vanquis today. I don't really want another credit car, so perhaps they will try in another few months. What really annoys me is the VANQUIS rebuild your credit logos on the front, which advertise the fact I am up the financial river without a paddle.

I never asked them, so they have taken my info from somewhere identifying that I have a poor credit score.

[ken100464]

Re: Can I get sub prime credit? 5 live defaults on credit file

CRA's I would think

We paid down a chunk of our misery at start of summer.

Lo and behold Cap One started sending out applications and all the DCA's got excited.

Cant see the creditor going round saying it got its dosh from us to them all so has to be something they all tap into.

[Never-In-Doubt]

Re: Can I get sub prime credit? 5 live defaults on credit file

Yep CRA's and even DVLA sell our info. It's shocking.

DPA/ICO are both a waste of space.

[mgfboy]

Re: Can I get sub prime credit? 5 live defaults on credit file

I keep on getting vanquis apps though the post and I was wondering why and how they knew I had adverse!!!

So if I was to write to Vanquis to ask where they got my details from , what do you think they would say???

[DaveyBoy]

Re: Can I get sub prime credit? 5 live defaults on credit file

Ok so they can still try and enforce at a later date so if I was you I would look to make an application to HSBC asap if you do want to move there.

If anything go into branch and just say you're thinking of moving your mainstream banking there as you are a mortgage customer and ask them to perform an account review to see if you're pre-approved for any banking facilities.

That's what I would do right now... you never know, you could be pre-approved for a £10k credit card

But deffo apply to Vanquis and Capital one as above in my earlier post.

Result! Vanquis call today and I've been accepted. Card and account now being set up. Will use it once a month and pay balance off in full to get some green 0's on my credit report. Have now applied to Capital One as per Niddys advice and I'm now undergoing manual reviewing process with them and can expect a response within 7 days.

Cheers Niddy and all

[DaveyBoy]

Re: Can I get sub prime credit? 5 live defaults on credit file

Just noticed I hadn't updated this. Capital One accepted me also so I now have a Granite Vanquis card with a £500 credit limit and the Capital One card as suggested in Niddys guide with a £1500 credit limit.

Semms strange being able to take my first small steps back onto the credit ladder still having £26k of unsettled debt defaulted 6 years ago that I was paying on a DMP up until a year ago until I found AAD.

£5 a year is a no brainer!

Cheers Niddy and All

[DaveyBoy]

Re: Can I get sub prime credit? 5 live defaults on credit file

Just noticed I hadn't updated this. Capital One accepted me also so I now have a Granite Vanquis card with a £500 credit limit and the Capital One card as suggested in Niddys guide with a £1500 credit limit.

Semms strange being able to take my first small steps back onto the credit ladder still having £26k of unsettled debt defaulted 6 years ago that I was paying on a DMP up until a year ago until I found AAD.

£5 a year is a no brainer!

Cheers Niddy and All

Ok so all going good here. Run both these accounts for 6 months now and other than 1 blip where due to a refund I ended up with a credit balance on my vanquis (They sent me a telling off letter pointing out it clearly states in section blah blah that the account shouldn't have a credit balance and if it happens again they'll suspend the account!) all is good. Next step on Niddy's ladder was to try mainstream lenders so done just that with my current account provider and have been accepted for a Credit Card with them. Cracking stuff so the question now is what to do with the Vanquis. No need for this now so leave it dormant or close it even though its relatively new. Which is better for the credit file as a move of house and a new mortgage is the next step for me.
Cheers

[Never-In-Doubt]

Re: Can I get sub prime credit? 5 live defaults on credit file

Close it mate & well done. I love it when a plan comes together