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  • easyboy
    Hi,

    Im am trying to sort out my credit to get a morgage in 2010.

    I have lived at 5 different addresses in the last 3 years as my parents moved away so was renting from place to place. I have £5K in credit cards and 2 overdrafts totaling £1600.

    I am not on the elctrol roll. Can i register this to my brothers address as i did live there for a year. I cannot register to where i am living as im just lodgin with friends at the moment.

    I dont really know where to start to get myself sorted! I earn a good enough wage to afford a morgage but my credit is very bad through missing payments and applying for too many things.

    Can anyone help me?
    Thanks
  • NickX
    I am not on the elctrol roll. Can i register this to my brothers address as i did live there for a year. I cannot register to where i am living as im just lodgin with friends at the moment.
    Originally posted by easyboy
    Well you should get on the electoral role, this is crucial to obtaining a decent line of credit.

    However, if you do not live at your brother's address then you should not register there. For one thing if your brother gets a single occupancy discount on his council tax then this would look as though you were both at this address and he may lose that discount.

    You should register wherever you are living even if it is temporary. Then when you move on, just send them a change of address letter. No problem really.
  • mumsywumsy
    Credit card where all others have failed?
    Hi - this is the first time I've posted anything, so I hope I've done it right!

    Can anyone help me please? Thanks to my now bankrupt ex, with whom I have a joint mortgage, I can't seem to get a credit card. I checked on my credit score and it didn't seem too bad so I think it must be the mortgage and dodgy ex that's going against me!

    I've seen the Vanquis card advertised for people with not great credit but am slightly scared by the interest! Does anyone know of any others I could try?

    I've been looking at some older threads and seen the names Aqua and MBNA but don't know if they're still relevant.

    Thanks to anyone who can help me.
  • dragon2121
    credit report help
    I recently got rejected for credit and got my experian and equifax reports.

    The equifax was in the good category and experian in the poor category.....the only differences between the two were:

    1. experian had more recent searches
    2. experian does no have me down on the elelctoral roll - but experian does and they are both exactly the same address!?
    3. Neither have all my current credit accounts, both only have credit cards and no loans?
    4. I have a CIFA entry on my experian report in someone else's name for a current account at Lloyds - what does this mean? It was very recently.

    My experian score back in April was in the good category so not sure why it is now so bad?
  • MoneySeeker
    [quote=MSE Dan;13090901]


    This thread is specifically to discuss the


    Including the new, unique Credit Checker

    Click reply to discuss
    Metro newspaper are allowing you to check your credit report online for free metro.co.uk/creditreport
    Is it a good way of checking it, not sure if it is free or what or relaible?
  • toofingers
    Just been rejected :confused: for my first credit card and I phoned the company and they said to write to Equifax to ask them how they rated me and why. I don't know why as I have regular income and no outstanding debts except student loan which is the only thing I can think of. Rejection was because my rating wasn't high enough. Could it be from lack of credit to check on? I always paid rent and bills by direct debit as a student so never late or missed payments. Will Equifax just tell me to pay for the info? Will this look bad if I apply for a different card?
  • kirstydubh
    No Credit Rating
    My 25 year old son has been trying to get a loan to buy a car. He tried on line first and was turned down. He then went to the bank and got the same reaction and was told that it was because he has 'no' credit rating. He has no credit cards, no loans, recently moved house and lives with his girlfriend. I am assuming that all this is bad news but wondered if there is any way he can rectify this. I think the problem now is that he has tried several companies on line which was probably the wrong thing to do at this stage. He has a steady income. Any suggestions? Would anyone be likely to give him a loan if I agreed to stand as guarantor?
  • animal_magic
    earlier in the year i was rejected for a card and thought it was due to an excess of credit, which i drastically reduced then appealed to the company much later only to be rejected again.

    I recently got my report from experian.

    my report shows that the record of that search made by that card co. said i had been living at my current address for an incorrect length of time.

    i am sure there were no typos when i made the application online and i am thinking that perhaps this gross error (the difference between actual time and the amount of time i had lived here was way off) contributed to my rejection.

    however, the record experian themselves have of me is accurate.

    is this something i need to contact experian about to set the record straight?

    (the only previous rejection i had was in the pre-credit crunch past. I was similarly rejected when my report revealed that the cloth-eared fool on the phone i was applying to made some serious address spelling errors.)

    ta in advance
  • knappo28
    Credit rating when changing loan terms
    Im having trouble paying a loan due to a short term reduction in my working hours due to the decline of the housing market and have asked my loan company if i can reduce my payments for upto 6mths and maybe extend the term by 6mths or increase the payments after this period, they have told me i would have to take out a new loan to do this, I told them i didnt want to do that as it will mean that all the interest i had paid will be pretty much killed off and they said the only other way would be to send in a letter outling the change in my personal circumstances and they will look at doing something but it would effect my credit rating...is this true as i wont have missed any payments, im just wanting a little help for a few months with reduced payments?

    thanks in advance
    • JimmyTheWig
    • By JimmyTheWig 28th Aug 08, 12:39 PM
    • 11,520 Posts
    • 11,168 Thanks
    JimmyTheWig
    Just been rejected :confused: for my first credit card and I phoned the company and they said to write to Equifax to ask them how they rated me and why. I don't know why as I have regular income and no outstanding debts except student loan which is the only thing I can think of. Rejection was because my rating wasn't high enough. Could it be from lack of credit to check on? I always paid rent and bills by direct debit as a student so never late or missed payments. Will Equifax just tell me to pay for the info? Will this look bad if I apply for a different card?
    Originally posted by toofingers
    My 25 year old son has been trying to get a loan to buy a car. He tried on line first and was turned down. He then went to the bank and got the same reaction and was told that it was because he has 'no' credit rating. He has no credit cards, no loans, recently moved house and lives with his girlfriend. I am assuming that all this is bad news but wondered if there is any way he can rectify this. I think the problem now is that he has tried several companies on line which was probably the wrong thing to do at this stage. He has a steady income. Any suggestions? Would anyone be likely to give him a loan if I agreed to stand as guarantor?
    Originally posted by kirstydubh
    These seem to be asking a very similar question.
    Yes, the lack of credit history will be going against you. It's not as bad as a bad history, but it's not good.

    Imagine going for a job in McDonalds. If you've worked in McDonalds before then they are likely to look at how you did then to decide whether to imploy you again. If you've worked in Burger King before and were terrible they're not likely to give you a job. But if you've worked in Burger King before and did ok, they're more likely to employ you than if you've never flipped burgers before.

    The same is true here. if you've got no experience of credit, that's not going to be as good as someone who's got a good experience of credit.

    Read Martin' article: http://www.moneysavingexpert.com/banking/credit-rating-credit-score#improve.
    Get a credit card (even if it has to be a high interest one, or one you have to pay for). Use it for a few things that you would have bought anyway (petrol, supermarket shopping, etc) and pay it off in full each month.
    If you can do that with no problems then others will see that and be more willing to give credit in the future...
    • JimmyTheWig
    • By JimmyTheWig 28th Aug 08, 12:44 PM
    • 11,520 Posts
    • 11,168 Thanks
    JimmyTheWig
    Checking credit reports for free... a second time?
    Hi,

    I signed up to check my credit report for free with Credit Expert last October through TopCashBack (as suggested by MSE) to have a look and get the free cashback.
    I cancelled it after having a look as I didn't want to pay for it.

    I would now be interested in having another look. No real reason, just out of interest.
    Presumably I can't do it for free again? Or can I?
    I could use one of the other agencies this time, but if that's the only chance I'll get would rather save it in case I needed to have a look.

    Am not looking for more cashback to do this (though wouldn't say no if some was available!) just would like to have a look.

    Jim
  • Moggles
    I signed up to check my credit report for free with Credit Expert last October through TopCashBack (as suggested by MSE) to have a look and get the free cashback. I cancelled it after having a look as I didn't want to pay for it. I would now be interested in having another look. Presumably I can't do it for free again? Or can I?
    Originally posted by JimmyTheWig
    Sorry to disappoint you, Jimmy. It's just the one free trial per customer, unfortunately.
    People who don't know their rights, don't actually have those rights.
  • Prodad
    Hello all, new to this so sorry if it's not in the right place but can anyone tell me if it is worth applying for a card with a low balance transfer rate and which one should it be. I currently have a Bcard Gold with a £13k limit and a £12k balance, Bcard Football with a £2k limit and near max, Tesco card with a £3k limit near max. I've recently been refused a BT card which I intended to use for this purpose but didn't state on the app form which card I wanted to repay. Can't think of any reason for refusal except being slightly over limit on Tesco card probably for not taking into account the Cardholder Protection Plan.
  • Moggles
    I currently have a Barclaycard Gold with a £13k limit and a £12k balance, B'card Football with a £2k limit and near max, Tesco card with a £3k limit near max. I've recently been refused a BT card. Can't think of any reason for refusal except being slightly over limit on Tesco card, probably for not taking into account the Cardholder Protection Plan.
    Originally posted by Prodad
    You don't mention which card company turned you down, but bear in mind that potential lenders cannot assess the way you handle credit directly. The best indication they have is the payment history and credit limits on your existing cards with other lenders. Having three credit cards which are all maxed out, may signal over-commitment, so it's wise to leave some leeway

    That said, there are any number of reasons why a given lender may refuse to extend credit. For tips to improve your chances of credit card acceptance, have a look at the *Credit Rating: how it works and how to improve it guide* especially Martin's *Manage and Improve your credit score* article,which gave rise to this thread.
    http://www.moneysavingexpert.com/banking/credit-rating-credit-score#improve
    People who don't know their rights, don't actually have those rights.
  • nicholas88
    I'm a 20 year old student about to start my second year of university, at the beginning of my first year I applied for a student account, but I was refused due to not having enough of a credit history . Recently however I've had a lot of financial trouble due to rent and studenty things, (not surprisingly had I had a student account it would have been avoided), and I'm thinking maybe I should try and get one again, only problem is due to said recent financial problems my credit history will now be a pile of !!!!, also due to moving in and out of student housing and changing my address on the electoral role I've moved about a bit aswell.

    I'm getting my mum to add me at her address on the electoral role, as I didn't realise as a student you can be on both addresses, but she was forced to move a year ago as they're knocking our old house down. So really .... is there ANY hope of getting a student account and if not where should i start trying to fix it?
  • Moggles
    I'm a 20 year old student about to start my second year of university. At the beginning of my first year I applied for a student account, but I was refused due to not having enough of a credit history . Recently however I've had a lot of financial trouble due to rent and studenty things, (not surprisingly had I had a student account it would have been avoided) and I'm thinking maybe I should try and get one again. Only problem is due to said recent financial problems my credit history will now be a pile of !!!!. Also due to moving in and out of student housing and changing my address on the electoral role I've moved about a bit as well. I'm getting my mum to add me at her address on the electoral roll, as I didn't realise as a student you can be on both addresses, but she was forced to move a year ago as they're knocking our old house down. So really .... is there ANY hope of getting a student account and if not where should I start trying to fix it?
    Originally posted by nicholas88
    This is not really a credit card question, as I think you realise, and you may get replies more quickly, if you post again on the *Budgeting & Current Accounts* board

    http://forums.moneysavingexpert.com/forumdisplay.html?f=20
    People who don't know their rights, don't actually have those rights.
    • Belnahua
    • By Belnahua 3rd Sep 08, 7:27 AM
    • 1,349 Posts
    • 1,675 Thanks
    Belnahua
    Interestingly I've got 2 credit cards I've had since I was legally able to, and they don't appear on any of my credit records.

    Thinking about it, it's probably harming my credit file, as I use them a little, but usually pay them off each month. So I don't really have credit that I use sensibly on my files!
  • ellie100
    building up a credit rating as a student
    im about to start university and have already opened a student account and have a credit card with this account. i was considering using the credit card ONLY for small managable sums (ie the shopping each week) and then paying it off automatically via direct debit (which has already been set up.)

    would you recommend this as a way to build up a good credit rating or would it, as the article warned, perhaps make me 'too safe' for the banks to lend to if, in the future, i need loans for other things?
  • NickX
    im about to start university and have already opened a student account and have a credit card with this account. i was considering using the credit card ONLY for small managable sums (ie the shopping each week) and then paying it off automatically via direct debit (which has already been set up.)

    would you recommend this as a way to build up a good credit rating or would it, as the article warned, perhaps make me 'too safe' for the banks to lend to if, in the future, i need loans for other things?
    Originally posted by ellie100
    What you suggesting is an excellent way of building your credit rating and will lead to better lines of credit in the future.

    You just need to make sure that you pay the entire balance off before the Due Date every month to avoid getting stung for interest and charges.

    If you do this successfully, you will much "safer" than someone who has not used Credit Cards before.

    Good Luck.
  • harryhound
    Hidden relevant facts?
    Did I read Martin's news letter correctly this week?

    The credit agencies cannot know you have:
    Been to Prison?
    Got a huge student loan?

    Doe this mean that the bank is not allowed to ask these questions ?

    Or if they do the punter is allowed to lie?

    Harry.
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