Hi all,
I am 18 and applied for the Abbey (cashback) credit card 10 days ago . I had not recieved anything yet so phoned them. to check. I was told it had been declined awaiting appeal and I could write to underwriting dept. He said its probely because I have no credit history. I asked why I didnt recieve anything saying i had been declined, he said "well its kind of like - if you dont recieve anything then you would presume it had been declined" sounds wrong to me.
Anyway is it worth appealing or should I apply for a card which I can build up my history with for a while.
I found these on the site for poor or no rating.
Capital One Classic (says online repsonse in 1min)
Monument
The Vanquis Visa Card
Which would I be most likley to get and I hope to get it asap.
Im not bothered about interest as I want to always pay it off in full.
I tried to do the experian check but I only has a VISA electron just now so couldnt - would this also affect me getting a card?
Thanks in advance.
You would most probably be able to get the Vanquis card, or Capital one.
Both cards are for people with no credit history :)
Have you tried your own bank?
Have you tried your own bank?
No I havent actually. I intially wanted a cashback card but guess I wont be able to get one yet. Is it worth asking abbey why they declined or just leave it?
No I havent actually. I intially wanted a cashback card but guess I wont be able to get one yet. Is it worth asking abbey why they declined or just leave it?'Credit scoring' is probably the answer you will get
'Credit scoring' is probably the answer you will get
Ok, not worth bothering then.
Credit cards for people with "no" "little" or "poor" credit histories do have a higher APR if you weren't to pay yours off every month but as an above post mentioned Vanquis, Capital one and Aqua along with Barclaycard Initial are for people with no,little or poor credit limits so if you want a credit card give one of those a try.
Credit cards for people with "no" "little" or "poor" credit histories do have a higher APR if you weren't to pay yours off every month but as an above post mentioned Vanquis, Capital one and Aqua along with Barclaycard Initial are for people with no,little or poor credit limits so if you want a credit card give one of those a try.
Ok cheers, which of them is best? Im tinking along the line of protection etc now. APR does not really matter as I will be paying off each month
To be be honset most of them are pretty good. You will most likely start with a small limit around 250. I would give Vanquis a try or Capital One to start with, don't apply for all 4 at once because the more credit searches you have looks like you are desperate and it lowers your "credit score" so apply for one or two and wait.
www.vanquis.co.uk (http://www.vanquis.co.uk)
www.capitalone.co.uk (http://www.capitalone.co.uk).
HTH
Applied for capital one:
We are currently reviewing your application and need to do some final checks before we can confirm our decision to you.
We will write to you next in the next 7 days to let you know our final decision. We may ask you to send in further information in order to approve your application.
So much for decison in 1 minute.
You say apply for 1 or 2 and wait. Would it be worth applying for vanquis incase capital 1 decline it or just wait and see?
Yes give Vanquis a go they will most likely ring you in a few days if you have been successfull telling you you APR credit limit and Sell you PPI as try to get you to transfer money into your bank account.
Keep us informed of what happens.
Yes give Vanquis a go they will most likely ring you in a few days if you have been successfull telling you you APR credit limit and Sell you PPI as try to get you to transfer money into your bank account.
Keep us informed of what happens.
What would I do if both card applications are accepted? What is PPI?
PPI is Payment protection insurance.
If you are accepted for both card keep both of them, use them to build your credit file up. Just don't go mad ;). Good Luck.
What would I do if both card applications are accepted? What is PPI?
No problems having 2 cards, the National Average is apparently 5. On here, many of us have over 10 ;)
PPI = Payment Protection Insurance.
Personally I wouldn't bother with PPI, its just a money making excercise for the Card Provider.
Thanks, sounds like I wont want PPI
Yes give Vanquis a go they will most likely ring you in a few days if you have been successfull telling you you APR credit limit and Sell you PPI as try to get you to transfer money into your bank account.
Keep us informed of what happens.
Capital One declined me but Vanquis accepted me and the card is on its way.
"This is a credit agrement regulated by the consumer credit act 1974, sign it only if you want to be legally bound by its terms":
Well I presume I have to sign this..?
The Consumer Credit Act 1974 (as amended by the Consumer Credit Act 2006) regulates consumer credit and consumer hire agreements. Its protections apply to agreements between traders and individuals, sole traders, partnerships and unincorporated associations, but not agreements made between traders and corporate bodies such as limited companies.
The Act lays down rules covering:
• the form and content of agreements;
• credit advertising;
• the method of calculating the Annual Percentage Rate (APR) of the Total Charge for Credit;
• the procedures to be adopted in the event of default, termination, or early settlement; and
• the unfair relationships test.
I see no harm signing to it. Its not necessarily to be signed.
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