I made my final payment on my IVA last week

[Pagan_Dave]

I made my final payment on my IVA last week and my IP today has confirmed that the payment has cleared and told me to cancel the standing order!! What a relief!!

I asked the nice lady on the phone today if it would be ok to apply for credit again, she said i could have a go but i might not be accepted just yet, not until after the 6th year has finished when all the defaults etc have been cleared from my credit files.

Well tonight i applied for the Capitol One Classic card; the account with only a £100 limit on it and a 56 day interest-free threshold to pay back whatever the balance is, and low and behold Capitol One accepted me for the card!!! Unbelievable!!

How could they have accepted me for the card when their credit checks would have seen the IVA on my credit record??

I've seen, maybe on here, that sometimes paying your IVA every month and not missing a payment could actually increase your credit rating? Could this be the case?

[Shining]

Well done on the completion of your IVA, must be a lovely feeling and one I hope to share albeit in a few years time.

I think paying your mobile phone bill and certain other regular things builds your credit status up a little unsure about the IVA.

[Pennyless]

Pagen Dave.....thats great. Well done on completion of your IVA.....!!!!!!

[kallis3]

Well done from me as well.

You might find you were accepted for the card because it has such a low limit.

Plus, as Lesley says, things like your bank account, mortgage, mobile phone bills, if all paid up to date, will help the credit rating.

[orchid5]

well done from me too Pagen Dave, what a great achievement to have done and now you can look forward to a debt free christmas.

[Beans on Toast]

Congratulations, well done and have a fantastic Christmas [:D]

[Declan at DebtFreeDirect]

Congratulations from me as well pagan dave. Well done.

Thanks

[size5]

Well done for completing your journey, and whilst I would not usually advocate another line of credit so quickly, I suppose a £100 limit will be useful over time if you use it and pay it off in full every month.

Regards.

[MRBLUESKY]

well done pagan dave,congratulations having a credit card with a small limit will help you build up your credit rating.ive been accepted for a vanquis card with £250 limit.but like mike said i will certainly pay any outstanding balances every month if i ever use it.

[Skippy]

Congratulations Pagan Dave and good luck for your debt free future.

I have the Vanquis card, and it's actually a nice feeling to have a credit card and pay the full amount each month. It might sound strange but I feel like I'm in control.

[MRBLUESKY]

i hav,nt requested a overdraft because i would,nt feel comfortable with one.but i dont mind a credit card for emergencies and it does give you that feeling of being in control.

[Skippy]

I doubt that you'd get an overdraft this soon out of your IVA Ronald.

[MRBLUESKY]

i will never apply for a overdraft period.they may be neccessary for small business,but not for me.

[Skippy]

I wouldn't say no to a very small buffer, but that won't be happening for a while.

[Shining]

I too would never say never, maybe in the future who knows when I can control myself!