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imranmaz Avatar
banned8y, 2m agoPosted 8 years, 2 months ago
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imranmaz Avatar
banned8y, 2m agoPosted 8 years, 2 months ago
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1 Like #1
Hard to say. If these are the first payments you've ever missed then I feel you're being treated harshly by Egg but due to the current climate I'm sure companies are tightening up. Consider any other debts you have, what your current account(s) are like, what salary you are earning, how long you've been in your job etc. All of these reasons will affect your credit score from a particular lender when you make an application.

I guess you could write to Experian and ask for a note of explanation to be added to the account in relation to the missed payments. This may help when lenders search in future but I don't know how they access credit scoring especially with someone like Egg where you effectively get a decision immediately online.

Regarding your unarranged overdraft fee, I would contact your bank to discuss and explain it was an administrative error on your part and see if they will refund you the charges. Your current account activity does appear on your credit file so there might be a red mark on it.

I would go onto Experian's website and use their free 30 day trial to get access to your file (even if you cancel it straight after) and check there are not other entries there that might be affecting you.

Maybe you should think, do you actually need a credit card, what would you be putting on it that you wouldn't buy in cash or on a debit card? Regarding not using debit cards online, get real, millions of people do it every single day so that is not a valid reason.

If you're really desperate for a credit card, maybe try Capital One, from what I understand, they approve anyone.
#2
Regarding not using debit cards online, get real, millions of people do it every single day so that is not a valid reason.

Terrible advice - online shopping has a much higher incidence of non conformity with contract, and thus the consumer needs the protection of s74 of the Consumer Credit Act - purchases of £100 or more made on a credit card afford you much greater protection than a debit card as the credit card company is jointly and severably liable, so if the company you bought from online is bankrupt, disappears without a trace or is otherwise not available for recourse should your goods be wrong/missing/faulty etc you can still get a refund. A debit card affords you no such protection as you are spending your own money directly.
#3
does a visa debit card not have something similar do, as my lloyds tsb account was covered by something like you mentioned happened to me, also a cashplus prepaid creditcard offers the above protection also
#4
Can't really offer advice on how to improve you rating, maybe its worth trying the provider of your first credit card again, they might let you reopen it?

When you do get one, set up a direct debit to pay off the minimum monthly amount - that way you will avoid this problem in the future. Your not the only person to have made this error and if your earning a salary I'm sure your credit record will sort itself out in the long term!
#5
Dub1;3470435
does a visa debit card not have something similar do, as my lloyds tsb account was covered by something like you mentioned happened to me, also a cashplus prepaid creditcard offers the above protection also

Debit/ prepaid/ charge cards offer no statutory protection - you may have bank goodwill/ policy reversals but they are under no duty to do so, and the processes are significantly longer for the consumer. As a general rule - spend your own money caveat emptor, borrow the money for purchase and you should be covered by CCA.
#6
oright as the whole selling point of the cashplus card was they offered purchase protection as well, thats why i went for it
#7
seancampbell
Terrible advice - online shopping has a much higher incidence of non conformity with contract, and thus the consumer needs the protection of s74 of the Consumer Credit Act - purchases of £100 or more made on a credit card afford you much greater protection than a debit card as the credit card company is jointly and severably liable, so if the company you bought from online is bankrupt, disappears without a trace or is otherwise not available for recourse should your goods be wrong/missing/faulty etc you can still get a refund. A debit card affords you no such protection as you are spending your own money directly.



Fair point about the CCA. Still, if you're buying from reputable shops online then the risk is signifcantly decreased. Fair enough if you buy from some of the fly-by-night operations that get listed on HUKD then you need that greater level of protection.
#8
You shouldn't apply to another card so quickly after being rejected. If the companies see you applying to so many cards in a short period, they would think that you are desperate in need for money and therefore hard to chase down for payments. Normally you need to wait about 1/2 year to apply again...but I suggest try applying after 3 months.

btw, just because egg card declined you, it doesn't necessarily mean you have bad credit. Companies all have different criteria for accepting new applicants. Some people with great credit and high income might find themself getting rejected from time to time. But I agree that capital one is very easy to apply to since they charge such a high interest rate.

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