Poor Credit Raiting - Looking to get CC to improve it! - Advice Needed
Options
Ryan_W95
Posts: 20 Forumite
in Credit cards
Hi MSE Forums,
I'm currently looking to get a credit card as my credit score it too low and I don't want to apply for credit in fear that I'll be declined and keep affecting my rating. My score it really low, I checked on Clearscore and I do belive it was in the high end of the 100's So pretty low... I have applied for credit a few times so that has affected it. I'm not currently on the electoral roll at the moment due to just moving house (My Partners Mum's house) and My mum also took out an account for a catalogue, never paid it. I have paid it but still have it showing as a negative on my score.
At the moment, the Typical APR or interest doesn't matter I know with my score being so low. I'll have to start at the bottom of the pile. Just need some advice!
Thank you.
I'm currently looking to get a credit card as my credit score it too low and I don't want to apply for credit in fear that I'll be declined and keep affecting my rating. My score it really low, I checked on Clearscore and I do belive it was in the high end of the 100's So pretty low... I have applied for credit a few times so that has affected it. I'm not currently on the electoral roll at the moment due to just moving house (My Partners Mum's house) and My mum also took out an account for a catalogue, never paid it. I have paid it but still have it showing as a negative on my score.
At the moment, the Typical APR or interest doesn't matter I know with my score being so low. I'll have to start at the bottom of the pile. Just need some advice!
Thank you.
0
Comments
-
Try Vanquis...0
-
As above, Vanquis are one of the better-known sub-prime cards. Lots of info here :
http://www.moneysavingexpert.com/credit-cards/?_ga=2.56751018.1875598470.1497338003-1221404320.1497338003
Look at the section called "Cards for bad credit".
Get yourself on the Electoral Roll ASAP, not being registered won't help - though it will take a while to filter through to the CRAs.
I don't understand why your mum's catalogue account would show on your file - unless she took it out in your name ???
Your credit score itself is meaningless. But from what you've described, it does sound like your credit history is somewhat less than ideal.0 -
Make sure you know how to use a credit card if you get manage to get one.
Use regularly, clear in full once you get the statement each month. Don't take out cash, don't miss payments and don't go over limit.0 -
Ebe_Scrooge wrote: »As above, Vanquis are one of the better-known sub-prime cards. Lots of info here :
<Removed Link due to being a new user>
Look at the section called "Cards for bad credit".
Get yourself on the Electoral Roll ASAP, not being registered won't help - though it will take a while to filter through to the CRAs.
I don't understand why your mum's catalogue account would show on your file - unless she took it out in your name ???
Your credit score itself is meaningless. But from what you've described, it does sound like your credit history is somewhat less than ideal.
Sorry yeah, she took the catalogue out in my name which doesn't help. I'll get the electoral roll sorted tonight.
Yeah I've appled for a few overdrafts and been denied a few time, made a few applications for CC's in the past too aswell. So I've literally been making an emergency save fund and managing my finances a lot better. It's been 3 months which is what's recommended to wait before applying again.
To be honest. I don't need a credit card I just want to improve my Rating, so buying lunch with it and paying it off the same day. Stuff like that.0 -
-
Deleted_User wrote: »No. You want to show you can handle credit, not look like you don't use it.
Wait for the statement.
So buy lunch for the month and then pay it off at the end of the month?0 -
Yes. Set up a DD so that full payment will be made each month.
A warning - if you do get a card, the credit score that the CRAs give you will drop further. Ignore it, as it doesn't measure credit worthiness. Don't let it panic you into closing the card as many people do.
Over time, your credit history will improve.0 -
So buy lunch for the month and then pay it off at the end of the month?
Not necessarily the end of the month - it depends on your statement date. The way you need to do it is :
1. Spend on card.
2. Wait for statement to arrive
3. Pay total amount in full, before the "payment due" date.
Typically the statement will arrive a couple of weeks before the payment is due, so you have plenty of time to make sure you pay it. Or, even better, set up a Direct Debit to automatically pay the full amount each month, then there's no danger of you forgetting.0 -
Deleted_User wrote: »Yes. Set up a DD so that full payment will be made each month.
A warning - if you do get a card, the credit score that the CRAs give you will drop further. Ignore it, as it doesn't measure credit worthiness. Don't let it panic you into closing the card as many people do.
Over time, your credit history will improve.
Thank you, appreciate it.0 -
Ebe_Scrooge wrote: »Not necessarily the end of the month - it depends on your statement date. The way you need to do it is :
1. Spend on card.
2. Wait for statement to arrive
3. Pay total amount in full, before the "payment due" date.
Typically the statement will arrive a couple of weeks before the payment is due, so you have plenty of time to make sure you pay it. Or, even better, set up a Direct Debit to automatically pay the full amount each month, then there's no danger of you forgetting.
Thank you!0
This discussion has been closed.
Categories
- All Categories
- 343.2K Banking & Borrowing
- 250.1K Reduce Debt & Boost Income
- 449.7K Spending & Discounts
- 235.3K Work, Benefits & Business
- 608K Mortgages, Homes & Bills
- 173.1K Life & Family
- 247.9K Travel & Transport
- 1.5M Hobbies & Leisure
- 15.9K Discuss & Feedback
- 15.1K Coronavirus Support Boards