Hi upstream.

I cannot remember reading about such a delay here previously.

I wonder if you've been lost in their system?

I presumed as much but thought it strange that I have tried using their contact page and still getting no response. There is a phone number to use so I'll give that a go.

I tried them but as I,m still in trust deed they turned me down,they did send email back fairly quickly though

That's wierd Maverick, I was still making my monthly TD payments when they accepted me and I know from on here that they have accepted others whilst in a TD.

I think it's usually been at the end CIF, when payments have been completed even if discharge hasn't yet occurred.

Vanquis are subject to responsible lending rules. Providing a credit line to someone that apparently has a very restricted capacity to repay might leave them open to question.

Yeah but I am sure one poster was only six payments into theirs when they started getting the mail through the door. Just goes to prove that individual companies credit scoring is a nightmare to try and figure out.

It is complicated CIF.

What we've seen time and again though is getting a mailing offering you a credit card doesn't mean they'll actually give you the card. It's always subject to checks.

I got my vanquis card when still had a year to go on my deed (and it will probably be extended)

I applied for a Vanquis credit card and got turned down - had 5 months to go on my TD.

On the other hand, I got a new iphone 5c on a contract?

I honestly think it is down to luck sometimes!!!

I applied and got a credit card no problem, and im going into 3rd yr of bankruptcy

I applied for a Vanquis card last November but never heard back from them and pretty much forgot all about it. As I am almost at the end of my TD I thought it would be a good idea to start rebuilding the credit file where I can so I reapplied yesterday and got turned down flat.

I had a look at my credit file on Noddle and I am in default with the credit cards and loans that were included in my TD. I surrendered my house at the start of the TD and the shortfall and loan that was secured on it are showing as satisfied. Anything else on it is showing as up to date or settled.

I'm presuming the defaults are the reason I was turned down by Vanquis. Does anyone think there is any point in applying for a different card from elsewhere or will it just be a case of computer says no everywhere if I can't even get a Vanquis card!? Vanquis said to try again in 6 months but I'd like to start paying for a tank of fuel here and there and paying it off straight away with a credit card if I can.

Hi upstream.

Every lender will score you differently and use different acceptance criteria.

That's not to say that the computer might not say no... but there is only one way to find out.

Wouldn't it be great if credit files/scores worked in a far more simple fashion. As TDA says above, even with a good or decent credit score you do not appear to be guaranteed any credit as this depends on the lenders criteria.

It's been discussed many times, but I still find it strange that someione with a 40% + deposit may still be rejected based on something that happened 5 years earlier.

Mark

I think that the experience of individual lenders comes into this a lot. They analyse their past lending decisions to draw conclusions about which factors make a difference to their repayment and default rates.

"Groups" that had high default rates previously might be excluded from future borrowing by a change to their criteria (or offered higher cost terms to adjust for the increased perceived risk).

One of our team heard from a senior person at Experian at a conference recently. They explained that their evidence suggests that those that have completed and been discharged from an IVA (similar to a trust deed in the rest of the UK) actually have a comparatively poor repayment track record when they borrow again in the future.

This may help to explain why obtaining credit after a protected trust deed isn't as straightforward as people might hope or expect.

There seems to be statistical evidence in the lending market that actual repayment rates aren't great... as well as that perception of risk arising from previous credit problems.