Can I apply for a credit card before I have the magic completion certificate ?

[leighxx]

Hi last payment went out end of October (hopefully all above board). I was just wondering if I can apply for credit before I have the magic completion certificate? Not saying I want credit, but might be helpful to have a credit card for emergencies as car not too reliable at the moment. Thanks

[Stuboy22]

Hi Leigh. I made my last payment in March and am still waiting for my completion certificate, but thought I'd have a go at applying for a credit card for a): Emergencies, and b): to start building up my credit history. I got approved for an aqua card with a limit of £250. Quite a high interest rate, but as long as you pay the full balance every month, no issue.

I'm finding it harder to get a decent current account though, which is what I really want. Not interested in an overdraft, but rather an account that comes with a debit card.

[leighxx]

don't really know about bank accounts as I had 2 current accounts with no debt which I kept up during the IVA, one with Cumberland building society and the other with Natwest. When setting up IVA was advised to try Natwest so maybe worth a go

[UpToMyNeckInIt]

...Vanquis accepted me, and I'm still in my IVA, so you should be ok.

Good to use it RESPONSIBLY and pay it off each month to help rebuild your credit-worthiness.

Well done on completing your IVA!!!

[Stuboy22]

Annoyed becasue I've been with Santander all through my IVA, one of their Basic Accounts. When I told them I was coming our of my IVA and wanted to upgrade, they said "as you've had an IVA, we will NEVER offer you a current account with a debit card or overdraft" which I found rather harsh. Needless to say I'm looking elsewhere, but am also very aware that I dont' want to be applying all over the place as it will reflect badly on my credit report. No banks are willing to give you any sort of answer over the phone, they say you have to apply and see what happens. Catch 22

[leighxx]

yeah I got my one with NatWest, just before I entered IVA and just didn't apply for cheque book or overdraft. Am now going to open a savings account with them to pay my spare money into. Don't know for sure but maybe try and get some savings with a bank first and then your internal score will go up......shouldn't say this BUT this is how I managed to get my very first loan

[Stuboy22]

Weirdly, Vanquis turned me down, so doesn't seem to be any consistency there. Saying that, I think Vanquis are part of Capital One which were one of my creditors, so they may keep seperate records. I hear that does happen, so am having to avoid anybody who was once a creditor or who are affiliated to a previous creditor

[Stuboy22]

Ha ha. I've also had a savings account running with Santander for the last 3 years, but that doesn't seem to make a blind bit of difference to them.

[geoffr]

Uptomyneck...how are you able to have a Credit Card while in an IVA? Does your IP allow special consent then?

Regards

[Pandy]

geoffr
I thought the same when he mentioned it before and it was because in some proposals you are allowed up to £500 credit.

I am not mine just says no credit at all.

[UpToMyNeckInIt]

Yes, that's right. I do have a clause in my iva which allows £500 credit without me having to seek permissionf from my IP.

[Shining]

I don't think there's consistency in any of the credit card/banking decisions. I got my Natwest bank account upgraded when in an IVA and accepted for a Santander account will full debit card..on the flip side others are not able to get a basic account. Makes you wonder how the decisions are made

[Maz]

That is interesting, I was wondering the same thing. I would like to have another bank accout i.e. with Santander (not Barclays can never go back to them). For two reasons; one a savings account so i can earn interest and also I cannot rely just having one debit card as i have had horrendous problems with them disappearing with ATMs crashing and no other backup. so stressful when your card disappears and no other source of getting money! That was a nightmare! I dont ever want a credit card again because they are the reason i got into an IVA in the first place (i had no problems with loans). I just want a normal bank account so i can earn interest on savings and maybe only credit for a loan. I wonder if that can be possible now? I have completed an IVA and I would think that is depressing if a bank account is turned down just because previous credit history of an IVA. [:(]

Maz

[kazzafunk]

If Vanquis are part of Capital One I am amazed as they gave us cards and they were one of out highest creditors.

Just run it past your IP before applying Leigh - shouldn't be a problem but I would be sure I was squeaky clean until I received that completion certificate.

[ginger323232]

Vanquis is part of Provident Financial