how long do i have to wait to try to apply for a credit card

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william704
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by william704 » Thu Sep 21, 2017 5:36 pm
hi
i have had my full final offer accepted
i havent got my receipt yet
how long do i have to wait to try to apply for a credit card with a medium limit on it
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Foggy
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by Foggy » Thu Sep 21, 2017 5:56 pm
It would be better to wait until you get your certificate and come off of the Insolvency Register ... better still to wait until your credit file clears. I applied, and was accepted, for a Vanquis card after coming off the Register, but while the IVA was still on my credit files ... some others have been refused. It isn't always just down to your history, but the lenders targets also come into play and they get more receptive when they need to "make up the numbers". If you appy and get refused wait a while before trying again as you don't want clusters of refused searches cropping up.
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kallis3
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by kallis3 » Thu Sep 21, 2017 6:28 pm
Agree with Foggy - I would also say that you do a 'soft search' first so that no other creditors can see if you are turned down.
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Lisa Thomas
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by Lisa Thomas » Fri Sep 22, 2017 8:14 am
When did your IVA start?

In addition to getting your CC and coming off the register you will need to wait until 6 years has passed since the start.

You might find this quick video I made about cleaning up your credit record useful:

https://youtu.be/PV4RzUY4BRM
Noddle and Clearscore are also free credit agencies to consider using:

https://www.noddle.co.uk/
https://www.clearscore.com/
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Imhotep
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by Imhotep » Sat Sep 23, 2017 8:59 am
The Insolvency Register will take three months before your name is removed.

We completed on August 4th and I'm still on there.

FWIW our IVA was over six and a bit years (81 months I think it was). So all defaults dropped off our records within a few days of completion.

Clearscore, Noddle Equifax etc. update monthly so this can also take a few weeks.

This morning my Clearscore rating jumped by 105 points to a whopping 493.

I'm waiting for the Insolvency Register to update before I get a new car though.
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Lisa Thomas
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by Lisa Thomas » Mon Sep 25, 2017 9:41 am
Just to add you may have to wait 6 months for your CC then 3 months to come off the register so up to 9 months...
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