Good for you tinsoldier and thanks for letting us know.

I'm sure that will play a part in re-establishing a positive credit record over time.

As you mention, the interest rates are horrible (!!) so it's definitely just one to use where you know it will be fully paid off before the interest starts to be charged.

I was actually surprised to get approval as my official discharge hasn't come through (7th September is the designated date) but happy at the same time!

I take it they have a far more flexible credit scoring system?

They obviously are flexible in their acceptance procedures tinsoldier, though I think what you're really seeing is "risk-pricing" where they feel if they set the interest rate high enough they can make money from lending to persons that other lenders would not consider.

I think that in the end "risk-pricing" may appear in the mortgage markets as well. Once the banks feel on more certain ground there clearly will be a market for them to enter providing mortgages to people that have less than perfect credit histories. I suspect this will develop by offering mortgages where they have set higher interest rates to reflect their perception of higher risk.

I'll put my crystal ball away now and go and do some work!

Congrats. Yes the interest rates are awful but it won't be a problem if you pay back what you've used each month and at least with a limit of £500 it's not loads. It opens more things to you like using the card only petrol pumps and hiring cars on holiday. It's a step back to normality with the fear of an obscene interest rate.

Cheers Gillian.

Yep it's the first few steps back into the world of credit

Well the card arrived yesterday, £500 limit, all activated. Here's to rebuilding my credit rating - and it also shows there ARE options available after fulfilling the obligations of your TD.

Fair play to Vanquis!

Great to hear there are options for moving on !

Applied for one last week. Expecting a call soon to finalise the application, hopefully.

Hello Kamikaze Bob.

It will be good to hear how you get on. Good luck with it.

It's great to see everyone's posts on this topic, it proves that the Trust Deed has served its purpose, and you are able to move on. It is good for all the other people who view the sight to here happy endings.

You have the right attitude towards yout new credit card, and I am sure you will be fine. Good luck.

Had my phone call a couple of days ago, approved.

They don't half try to sell you the add-ons tho...

Good news Kamikaze Bob. It's great to hear that this option is potentially open for those who consider it to be useful for them.