Hi
I completed my IVA in July 2011 and received cc some years later! Anyway we are going on holiday this summer and need to hire a car, so really need a credit card to secure the excess deposit they ask for. Are there any credit cards that are guaranteed to accept post Iva applicants? My details are no longer on the insolvency register and since the iva I don't have any debts/ credit except mobile phone contract. I don't want to end up making unsuccessful applications as I think that shows up negatively on your credit score?
Vanquis are a good starting point and will accept post IVA applications. I think you can get decision straight away online. Their customer service is very good.
Noodle will match you up with cards that they think you have the best chance of getting based on your credit report.
It won't impact on your file until you actually apply.
I've no doubt that the top results are probably "sponsored" but at least it'll give you an idea.
Credit matching by Experian or Noddle is not an exact science.They say even if you are matched to a CC bank can see still say no.It is an 'educated' guess. Applying to the bank you bank with for the CC after the iva will minimise risk of referrals or rejections as they 'know you'. From my own case.
Alternatively, I would avoid the M and S and HSbc cc and go with the Halifax and Nationwide to play safe etc.
It is crazy in a post iva period we have to take these precautions.
The Aqua and Vanquis cards are the best of the credit builder ccs.
I myself go with mainstream cc and not need them as matter of principal.
Last edited by nonewdebt on Fri Apr 03, 2015 11:07 am, edited 1 time in total.
Other alternative if you need the protection but not the credit is use a prepay mastercard etc.
IVA started March 2011, Completed March 2016 and certificate issued 11 days after final payment. It was not always easy but then some of the best decisions aren't.
