apples24

iTrader: (1)

my friend just got finance on some wheels he told me he got instant credit as he had a credit card? no credit check
whats thhat all about then never heard of it before??

whats it actually called ... instant credit?

KiwiGTI

I'm pretty sure he will still have been credit checked, but the fact he has a credit card probably means that he will already have a credit record and therefore his details are verifiable by a 30 second check rather than having to properly check out all details.

Notorious

A credit check of some form must be done as said above....they are not Gold wheels by any chance are they .....if so thats probably right, they prob just give them away!!

NotoriousREV

Some shops can offer credit with no credit check if you already have a credit card (plus a few other minor requirements like certain amount of income etc.) but I guarantee you that the interest rate will be astronomical (30%+ APR probably)

Jamo

iTrader: (23)

no its factual, when a credit card is held theres lots of valuable information that relates to it, a company will usually use this information over a credit check as it shows basically the same info as a credit check anyway. however the company dosent have to pay for the information, basically if a credit card is being run well and paid on time, the better behavioural score you get.

thats how these pre approved loans work.

I work for one of these banks that use this information.

shaggy

fast bloke

would the card be Egg by any chance? I have an Egg card and and an Egg Blue - they have told me I can borrow up to 50k and the money will be in the bank the same day - they don't need to do an experian/equifax check as they can see that the two cards have been properly managed