pp online betting/problems applying for a mortgage/pp cash cards???

vipervillain

i have an online paddy power account and put a couple of football bets on at the weekends.i deposit money into my account from my debit card....ive heard now of people that have applied for mortgages and them being refused on the basis that deposits have shown up on there last 6 months bank statements....if i was to apply for a mortgage id suppose id have to just stop depositing money onto my account for 6 months and then my bank statements would be clear but i was wondering about the pp cash cards and exactly how they work.has anyone used them,im not sure about the withdrawals on them.....can winnings only be withdrawn when you bring the cash card into a pp store or can they be withdrawn back into your bank account as normal....????

dan de man

you can use the paddy power cash card to deposit and withdraw monies in any pp shop,no bank account details required

Nulty

Live Help

CrabieCrawford

I'm not sure what the story with the card is but I deposit money into my betting accounts via pay-pal, meaning no betting accounts showing up on the bank statements

hitman79

Are you serious OP? I throw about 20/30 euro a week into my online account and will be looking to get a mortgage within in the next year. Should i quit my account and just go back to betting in the shop?

El Horseboxo

Yeah i use pay pal for my accounts. On PP just go to payment types and select paypal. No trace of gambling on your bank statements then.

UrbanSea

Since when can you take the money out in the shop? Last I tried I couldn't,I used Boyles now. Deposit and withdraw in the shop,awful handy.

JONJO THE MISER

Yeah i know a close family member who was refused a mortgage because of Gambling activity online.
I think the best bet is to use moneybookers and then deposit from there, requarding the cashcard i got one last week, just deposit in shop and you can withdraw in shop to a ma of 500 Eur per day.

vipervillain

great stuff i ll have to look into that with paypal

hitman : yeh i probably would stop the deposits straight off the card
i was refused a mortgage myself but the reason i was given was that i didnt have enough of a credit history to base an assessment on myself but im thinking the little pps on my last 6 months statements could of had a lot more to do with it. i had only sent the stuff off and was told about the online gambling being looked on negatively and that even the odd flutter could decide whether its approved or not. but what the others have said about paypal should sort that out

hitman79

Cheers for the heads up Viper. Havent thrown anything in the account for 3 weeks so might try staying away from it altogether.

vipervillain

probably best thing, like you said you are looking to apply for a mortgage but im sure what the others have said should work out fine....then again if ya can stay away from it thats probably the best thing

vipervillain

as a test i went onto pp online and added paypal as my payment method and it brought me to my own paypal page that i had set up previous and attached my cc to it...thing is i made the transfer from paypal to pp online account but it says it will still show up on my cc statement as paypal-pp online im assuming meaning paypal paddy power online.this will defeat the purpose as i dont want a record of the online gambling to show on statements..i havent used paypal in ages but i thought you could first put money from a cc into my paypal account so this will rest there and then i move it to my pp online account so the record will only show on my paypal account and therefor the cc statement record should just say paypal or something like that.its not giving me an option to do this only to transfer money from my bank account......i must be doing something wrong here...any ideas???

Verance

Moneybookers? It comes up as moneybookerseur on your statement.

El Horseboxo

vipervillain wrote: »

as a test i went onto pp online and added paypal as my payment method and it brought me to my own paypal page that i had set up previous and attached my cc to it...thing is i made the transfer from paypal to pp online account but it says it will still show up on my cc statement as paypal-pp online im assuming meaning paypal paddy power online.this will defeat the purpose as i dont want a record of the online gambling to show on statements..i havent used paypal in ages but i thought you could first put money from a cc into my paypal account so this will rest there and then i move it to my pp online account so the record will only show on my paypal account and therefor the cc statement record should just say paypal or something like that.its not giving me an option to do this only to transfer money from my bank account......i must be doing something wrong here...any ideas???

I've been using pay pal for a while because i was told it doesn't show a record on statements. But i went to top up today and sure enough it says pay pal pp online will show up on my statement. I never check my statements but i have never noticed it before. Not sure if it's being doing that all the time. Must check back over statements. Gonna look into this moneybookers thing.


EDIT

Actually i think i have transferred money from my bank to paypal in the past and paid that way. Because i have no money in paypal at the moment the option to use it must not be coming up.

Fowler87

Cheers for the heads up on the moneybookers account lads...

El Horseboxo

I remember how i done it with paypal.

To use the pay pal method you need to transfer money from your bank account to pay pal. This is done through your online banking and you just set it up as a transfer. The details for sort code and reference number is on the paypal site. When the money transfers into your pay pal a/c (usually over a day later) the option comes up by default to use your pay pal balance when you select that option on PP. So no Paddy Power on bank statements that way.

Collie D

This has actually been going on for years but is only really being mentioned now in the media. I applied for a loan seven or eight years ago and they asked what the credits and debits to PP.com were. Was pretty bloody obvious what thye were so had to fess up. Got the loan but in those days I was working for the bank in question so maybe I was given a bit of leeway as the amounts in question were in multiples of a hundred befoe I got sense.

FortuneChip

I've gambled quite a lot over the last few years, straight from laser to the lads at PP. Now I reckon it's safe to say I'd be on the naughty list should I apply for a loan, or look to take out a mortgage (luckily, I have no intentions to do either in the near future), but I was curious if anyone has any idea of how far back the bank would be looking, if in a few years time I intend to try get either off them?

Hypothetically, I open a Paypal or MB account now so no more PP transactions on my bank statement, and two years down the line decide to take out a car loan etc? Would that sort of time period be enough to "clean up my image?"

vipervillain

i applied for a mortgage and the mortgage crowd asked for the last 6 months statements of my bank account so if you were to clean things up 6 months before you apply i assume that you would be fine...

new shoes

No wonder i cant get a loan... bit stupid.. surely it shows that you can manage ur gambling if anything..

Devastator

Collie D wrote: »

This has actually been going on for years but is only really being mentioned now in the media. I applied for a loan seven or eight years ago and they asked what the credits and debits to PP.com were. Was pretty bloody obvious what thye were so had to fess up. Got the loan but in those days I was working for the bank in question so maybe I was given a bit of leeway as the amounts in question were in multiples of a hundred befoe I got sense.

I've never heard of anything like this in my life and I've worked for banks for many many years!

I've sold mortgages and at present I sell personal loans(among everything else) and I've seen plenty of punters coming through making an application and I can 100% guarantee you that because they gamble is not the reason they are declined, its because they credit score is sh*te or they have too many debts!

Also, never in either of the 2 major UK banks that I've worked for have I ever been told to check a customers bank statement and to decline a mortgage/loan if anything gambling transactions are on there.

If you really think that is the reason that you've been declined try making a complaint to the ombudsman or the FSA(or whatever equivilant is down south) and see just how seriously they take it.

Its called discrimination, its not allowed!

In the same why of thinking what if the off licences transactions showed up on a bank statement, would they turn that down because their new potential customer may be an alcoholic?

vipervillain

thats interesting

i had applied for a mortgage but it was for the sole purpose of testing the waters to see how much i can get so i would have an idea of what to look for then...i had sent all the particulars and it was after that i was told by people and read that if there was a hint of online betting no matter how big or small that the loan would be refused.i didnt hear from the mortgage people for a few wks and when i emailed them to find out what was happening i got a quick enough reply saying that the banks would not loan me any amount because i had no credit rating to make an assessment on..at that time i didnt have a credit card as i never needed one but i thought it was them not giving me a loan because of the online betting showing up on my bank statements and they just werent saying so...

Devastator

so you alreadyy knew that you didn't have a credit rating.....but you came to the conclusion that it was due to gambling that you were knocked back. Do you realise how ridiculous that sounds?



Get yourself a credit history(this does not mean having a credit card) and don't waste your time applying for a mortgage until you've built up a couple of years history.

Devastator

read this

http://experian.metafaq.com/templates/experian/main/answerPage?_mftvst:answerRef=%24http%3a%2f%2fapi.transversal.com%2fmfapi%2fobjectref%2fEntryStore%2fEntry%2fhttp%3a%2f%2fwww.metafaq.com%2fmfapi%2fMetafaq%2fClients%2fexperian%2fModules%2fHeadlines%3a163917%3a2&_mftvst:moduleID=%24Headlines&_mftvst:topicID=%24&id=PCJBN58QTERHRJ0DOKERC3E4K2


also few very simple points to improve credit score:-
repay any debts/credit on time
DO NOT use cash withdrawls on credit cards
TRY to repay credit card balance in full every month. - This is a cracker! Use your card for a small purchase(£10) every month and repay in full.
TRY to live at 1 address. If you've had 3 or 4 address' in last few years your loan app is about 95% to fall flat on its face.

If your moving around rented places try to use your parent's or someone's address as your 'permanant base' and register your bank accounts,etc to that address

vipervillain

thanks for that...its answered a couple of questions i had about.....
will be following those guidelines pretty closely....

new shoes

Im pretty goosed so!!

Banks should take a long hard look at themselves. I applied for a loan 5 years ago. She said I cant pay back a personal loan over 5 years so she said "If you were to say its for education that would be fine"

She rang back 2 minutes lates, and asks what sory of loan I'm looking for..

For education I says..

APPROVED!!

No wonder they're in the state they're in!

electron

Devastator wrote: »

DO NOT use cash withdrawls on credit cards
TRY to repay credit card balance in full every month. - This is a cracker! Use your card for a small purchase(£10) every month and repay in full.

ok, these are helpful tips!


but that's discrimination, to say the least:

TRY to live at 1 address. If you've had 3 or 4 address' in last few years your loan app is about 95% to fall flat on its face.

Collie D

Devastator wrote: »

I've never heard of anything like this in my life and I've worked for banks for many many years!

I've sold mortgages and at present I sell personal loans(among everything else) and I've seen plenty of punters coming through making an application and I can 100% guarantee you that because they gamble is not the reason they are declined, its because they credit score is sh*te or they have too many debts!

Also, never in either of the 2 major UK banks that I've worked for have I ever been told to check a customers bank statement and to decline a mortgage/loan if anything gambling transactions are on there.

If you really think that is the reason that you've been declined try making a complaint to the ombudsman or the FSA(or whatever equivilant is down south) and see just how seriously they take it.

I said I got the loan. They asked me about the debits and credits. Believe what you like

Devastator

electron wrote: »

ok, these are helpful tips!


but that's discrimination, to say the least:

Its not discrimination, I belive you may have mis understood what I meant. Banks/finance companies will not frown upon this, but moving to numerous address' will destroy your credit score and this is mainly what the banks/finance companies base their acceptance on. So staying (or being registerred) at 1 address helps you maintain or increase your credit rating.

Collie D wrote: »

I said I got the loan. They asked me about the debits and credits. Believe what you like

Like what? My own eyes,ears and experience? Ok I will!

Collie D

Devastator wrote: »

Like what? My own eyes,ears and experience? Ok I will!

Fine. And I'll recount my own experience without being called a liar by you, thanks very much. I'm not in the business of making stories up to impress people on an internet forum who I will more than likely never meet.

Devastator

Collie D wrote: »

Fine. And I'll recount my own experience without being called a liar by you, thanks very much. I'm not in the business of making stories up to impress people on an internet forum who I will more than likely never meet.

dry your eyes and stop acting the victim. So you just make up stories about being called a liar.....love to know what I apparently called you that :rolleyes:

I'm not going to respond to any more off topic posts but if anyone wants any help/advice about credit ratings gimme a shout

electron

Devastator wrote: »

Its not discrimination, I belive you may have mis understood what I meant. Banks/finance companies will not frown upon this, but moving to numerous address' will destroy your credit score

no, that's exactly what i meant off topic though, i guess.