As A Discharged Bankrupt..

[chrissa1]

I've been thinking about trying to repair my Credit Score. I did a Moneysupermarket search of the companies who would consider me and everyone came up, "Not Eligible."

I thought, "fair enough".

However, in the post this morning was a letter from Vanquis saying I had been Pre-Selected for a card. I understand these sort of letters go out all the time and it was probably triggered by the MS.com search. I was planning on just using a card to buy my petrol each month and clear the balance in full.

Does anyone think they will give me a card, or is this just going to be another search of my Credit Report, which can be damning too?

Thanks.

[Canary42]

Any "small print" on the letter with caveats invalidating the pre-selection ?

[nungate]

Vanquis are one of those credit card companies who will lend to people with poor credit records and they may actually let you have a card. You could just try applying for one and see how it goes. There's also a credit card called Luma that has been advertising something similar.
Good luck

[chrissa1]

I've scanned the "very" small print and can't see anything that jumps out at me about bankrupts.

Thanks both.

[Buenchico]

I get those Vanquis offers. (They generally seem to target people with low credit ratings).

I'm reasonably confident that they'll give you a card (with a very low credit limit initially) but with very high interest rates. Of course, as long as you repay all (or most) of what you owe each month you won't pay a great deal of interest anyway but you'll still start to repair your credit rating.

At one time the big catch with Vanquis was that they applied a hefty annual charge to their cards but the most recent offers I've received have been for cards with no annual charge. (All the same, read the small print carefully before you sign up!).

Capital One would also be likely to offer you a Classic MasterCard:
http://www.capitalone.co.uk/creditcards/credit-card-range.jsf

Chris

[Canary42]

Just found this on the Vanquis website :-

Important: Credit is subject to: status; telephone contact; confirmation of name and address; not already holding a credit card issued by Vanquis Bank; no reasonable suspicion of fraud, and is only available to UK residents who are at least 18 years of age and are not legally restricted from obtaining credit e.g.because of bankruptcy. Please read the Summary Box and Terms and Conditions for full financial details.

[chrissa1]

Thanks Chris.

That's interesting Canary. I know that my discharge has appeared on my Credit Report now, so I might give it a try.

[RATTER15]

You probably wont get it but the search will show up and go against your credit score.

[chrissa1]

Stop beating around the bush Ratter and give it to me straight, why don't you. :)

Nothing ventured and all that.