Best credit card to build credit

gemmylouise · 22 June 2017 at 12:13AM

My husband wants to take a mortgage in the future so we have checked his credit report....

- He wasn't on the electoral role so we have added that

- He has no debts

- He has no credit cards

- He only has one open account Barclays Bank

- He has four closed accounts. Amiga which has a zero balance, he loaned £2500 and cleared this in March 2017, since March his credit score went down when this closed. He is not sure what the other three are as they as so long ago but they are still showing balances in the closed section.

- He has 2 ccjs. County Court Business Cen £659 September 2015 and Northampton CCBC £501 December 2012

1. Should we pay off the balances of the accounts in the closed section? How do we find out who they are? Just google the name?

2. Should we try to find out what the ccjs are for and settle them or ask for them to be removed?

3. A negative is that he has 'no active credit cards'... he has never had one! We were thinking this would be a good way of building credit. Some are offered as 90% on Experian Credit Matcher but we are nervous that he still won't get accepted as he has tried one previously in the past and has been rejected.

Any advice gratefully received - thank you

Jaglad111 · 22 June 2017 at 3:15AM

Try Capital one or Vanquais. They are very forgiving although initial limit will be very low and interest rate very very high. Dont worry about credit scores, they are a money making gimmick, its the data that counts. If he gets accepted avoid maxing it and pay off in full once the statement is produced.

gemmylouise · 22 June 2017 at 7:49AM

Jaglad111 wrote: »

Try Capital one or Vanquais. They are very forgiving although initial limit will be very low and interest rate very very high. Dont worry about credit scores, they are a money making gimmick, its the data that counts. If he gets accepted avoid maxing it and pay off in full once the statement is produced.

Thank you for replying. Yeh we don't mind what the limit is as we only want to make a £20 spend and then pay it in full each month to build credit.

Candyapple · 22 June 2017 at 10:41AM

Post #17 in thread below:
http://forums.moneysavingexpert.com/showthread.php?t=5667041

Always use the eligibility checker first.

You may find that your husband might not even be able to get a credit card at this stage. Make 1 or 2 applications and if rejected, I would advise you to wait until December 2018 when the first CCJ drops off and then try again.

Details about CCJ here:
https://www.trustonline.org.uk/understand-judgments-fines/ccjs-and-county-courts/removing-a-ccj

If an account is in the closed section they should have a zero balance. Can you take a screenshot please?

Have you checked all 3 credit reference agencies?

The free versions to check your credit files are below:
Experian: https://www.moneysavingexpert.com/creditclub
Equifax: https://www.clearscore.com
Call Credit: https://www.noddle.co.uk

Best credit card to build credit

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