Written by John Kruse, one of the leading experts on Bailiff Law, this consumer friendly guide is essential reading for anyone who comes into contact with a bailiff.
The book is easy to understand and clearly explains the rights
a bailiff has, and also what they cannot do when collecting debts and repossessing goods etc.
I've got a bad credit history from when I was with my ex. For 2 years everything has been clear & paid on time including my mortage, I've not even been over drawn (or have I?).
I've got a Aqua Credit Card but wanted to see if I could get a 0% interest card - to save me some cash.
I applied to MBNA, they called me & asked me to explain my credit history - they were happy with the explanation & asked me to forward bank statements. No problem - eveything is fine, no charges etc.
However, I get paid on the 15th of the month & some DD's & SO's go out on the same day. Not a problem, you would think. However, the bank processes the debits before the credits which shows my balance as being overdrawn - when in fact it isn't - or it would be if they processed the credits before the debits.
I've just been told by MBNA that this is the reason my application has been declined.............. argh.
I know the solution would be to amend my payment dates to the 16th - which I will - but any idea's of how I can argue this successfully with MBNA now? I'm so annoyed that they are not using a common sense approach to this. I earn over £30k a year & am managing credit - which they agreed - it's just they say I'm operating the account outside the banks terms & conditions - but the bank doesn't think that!
Halifax 1
WON - £1,355.49 21/07/06
MINT
WON - £273.81 14/09/06
First Direct
WON - £913.50 01/09/06
Capital One
WON - £130.13 03/11/06
Halifax 2
WON - £188.03 01/12/06
Kensington Mortgages ERC
MCOL for £6,204.39 Discontinued
Halifax Mortgage Admin fee
WON - £10.00
Direct Line Mortgage Redemption Fee
WON - £99.00
Halifax 3
MCOL for £109.01 reg 07/03/07
The vast majority of creditors will offer an appeal process, normally in the case of 'automated' credit decisions where you can explain circumstances to a person and not a machine.
Get back in touch with them, and explain the above and then they can review their decision as there is a simple answer and solution to the 'problem' that they cited as the original reason for the rejection.
Lived through bankruptcy to tell the tale! Worked in various industries and studied law at university. All advice is given in good faith only
At the end of the day as long as MBNA get their repayments from you on time every month then the fact that you have gone OD should not even be a concern to them.
Anyway I thought that a decision as to whether or not to give someone a credit card was based upon a credit history check that they run not the fact that you have gone od for one day.
Being od for a short time should have no bearing on the process.
If this the way that they treat you now I would try applying to a different CC company
I've spoken to their review team & the review team manager all who unfortunately have no common sense
Halifax 1
WON - £1,355.49 21/07/06
MINT
WON - £273.81 14/09/06
First Direct
WON - £913.50 01/09/06
Capital One
WON - £130.13 03/11/06
Halifax 2
WON - £188.03 01/12/06
Kensington Mortgages ERC
MCOL for £6,204.39 Discontinued
Halifax Mortgage Admin fee
WON - £10.00
Direct Line Mortgage Redemption Fee
WON - £99.00
Halifax 3
MCOL for £109.01 reg 07/03/07
It might be worth speaking to your bank and asking them to draft a letter for you saying that they internally process debits before credits and this has no bearing on the good running of your bank account?
If i was you i would do what they are suggesting and see if your bank can write you a letter, then i'd do a balance transfer from the Aqua Card i used to work for Aqua Card and the circumstances in which they take into consideration are different to that of MBNA because Aqua unfortunatley pray on the vunerable that have had poor credit rating for whatever reason thats why they can charge you something like 33.9% apr shocking, needless to say i dont work there anymore! Unfortunately credit card companys are not inttersted if your account has been clear for months its the risk factor.
Credit Card Refusal from MBNA
card - to save me some cash.
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