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  • FIRST POST
    • leo_098
    • By leo_098 12th Jan 17, 9:31 AM
    • 3Posts
    • 0Thanks
    leo_098
    Cant get accepted for ratings building credit card
    • #1
    • 12th Jan 17, 9:31 AM
    Cant get accepted for ratings building credit card 12th Jan 17 at 9:31 AM
    Hi,

    I have a poor credit rating but now i have a good paying job am desperately trying to build it back up and hoped to have a ratings building credit card. I have applied for 3 in the last 2 years and not been accepted for any. Is there a specific reason why this might be and are there any cards that i might have the best chance applying for?

    Thanks

    Liam
Page 1
    • ashp
    • By ashp 12th Jan 17, 9:33 AM
    • 403 Posts
    • 138 Thanks
    ashp
    • #2
    • 12th Jan 17, 9:33 AM
    • #2
    • 12th Jan 17, 9:33 AM
    Are you on the electoral role?
    Have you moved house much?
    Is your current account well managed?
    Any defaults/late payments?
    • leo_098
    • By leo_098 12th Jan 17, 9:48 AM
    • 3 Posts
    • 0 Thanks
    leo_098
    • #3
    • 12th Jan 17, 9:48 AM
    • #3
    • 12th Jan 17, 9:48 AM
    Are you on the electoral role? Yes
    Have you moved house much? Not in the last 2 years
    Is your current account well managed? Yes
    Any defaults/late payments? I have 1 from a previous bank account which was over 10 years ago.
    • Candyapple
    • By Candyapple 12th Jan 17, 10:23 AM
    • 2,471 Posts
    • 1,846 Thanks
    Candyapple
    • #4
    • 12th Jan 17, 10:23 AM
    • #4
    • 12th Jan 17, 10:23 AM
    So what is the reason for your 'poor' credit rating?

    Any defaults drop off after 6 years and a late payment made 10 years would have no bearing on your credit history.

    Do you have any CCJs?

    Any other credit cards / loans / mobile phone / car finance?

    Have you signed up with Noddle and ClearScore - if yes, what does it say about your credit history?
    • ashp
    • By ashp 12th Jan 17, 10:32 AM
    • 403 Posts
    • 138 Thanks
    ashp
    • #5
    • 12th Jan 17, 10:32 AM
    • #5
    • 12th Jan 17, 10:32 AM
    As above. There's something not quite adding up? I managed to get a credit builder card with a default on my report.

    Suggest you sign up to Noddle/clearscore which are free if you have not already. And see what the "negatives" are.
    • DCFC79
    • By DCFC79 12th Jan 17, 11:01 AM
    • 30,252 Posts
    • 19,141 Thanks
    DCFC79
    • #6
    • 12th Jan 17, 11:01 AM
    • #6
    • 12th Jan 17, 11:01 AM
    Hi,

    I have a poor credit rating but now i have a good paying job am desperately trying to build it back up and hoped to have a ratings building credit card. I have applied for 3 in the last 2 years and not been accepted for any. Is there a specific reason why this might be and are there any cards that i might have the best chance applying for?

    Thanks

    Liam
    Originally posted by leo_098
    No 1 else can see your credit rating.

    Lenders see your credit history.

    What cards have you applied for ?
    Can people stop loaning money/being a guarator to family/friends, it rarely ends well and you lose out as your money is gone or you get shafted with being a guarantor.
    • leo_098
    • By leo_098 12th Jan 17, 3:00 PM
    • 3 Posts
    • 0 Thanks
    leo_098
    • #7
    • 12th Jan 17, 3:00 PM
    • #7
    • 12th Jan 17, 3:00 PM
    Hi thanks for you help. I just did a credit check on Noodle which linked in account which have 100% acceptance which i have successfully applied for. The limit on the account is £200 per month. I have set it up to clear the full balance every month. What is the fastest way to improve credit using this card? Spend the full amount and repay the full amount monthly or does this not make any difference to spending a smaller amount and paying that back?
    • zx81
    • By zx81 12th Jan 17, 3:01 PM
    • 14,040 Posts
    • 14,721 Thanks
    zx81
    • #8
    • 12th Jan 17, 3:01 PM
    • #8
    • 12th Jan 17, 3:01 PM
    Spend a little and clear in full.
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