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    • NM1882
    • By NM1882 3rd May 17, 1:13 PM
    • 1 Posts
    • 0 Thanks
    NM1882
    Hello Guys

    Just wondered if anyone can help? i have got very good credit rating so i applied for a loan for £7500 to get the good rate so i could do my central heating, bathroom and kitchen all together and to my surprise i got declined! looked on my credit file and it says as i have applied for 2 previous bits of credit within a short time frame it has declined me! i have had 2 loans but payed them off early one by 6 months, the other was for 2 years and i payed off within 3 months by making the decision to use my savings to pay off which i thought would help my credit score but no it has counted against me for essentially paying these 2 off early!!! i have spoken to Experian and told them the circumstances but they have just said not to apply for any more credit for 6 months! seems really unfair that i pay off early and get punished! is there anyway i can get this removed from my credit file? does anyone have any idea's please? i have written to TSB who i applied for the loan to appeal and explained about how i have paid these 2 loans off so early and am awaiting there reply but it isn't going to fix my credit file! really frustrating that by paying off early you get knocked back because a computer says no! any advice would be great!

    Thanks in advance!
    • zx81
    • By zx81 3rd May 17, 1:23 PM
    • 14,378 Posts
    • 15,159 Thanks
    zx81
    You have no credit score. Just credit history.

    You haven't been penalised for early settlement by anyone.

    Affordability is more likely to be a reason for the decline. What is your income? Who did you apply to? What data do your other credit files show?
    • carolynw
    • By carolynw 1st Jun 17, 6:34 PM
    • 15 Posts
    • 9 Thanks
    carolynw
    Credit score on Clearscore going down but why??????
    Help please we are really worried. We are trying to move house, downsize but we still need a mortgage. Both my husband's and my clearscore score has gone down by 10 and 12 respectively but the report says no changes! We have been so careful with money this seems like a proverbial slap in the face. Can anyone shed any light and is there anything we can do about it. Our credit club score has improved! thanks
    • DCFC79
    • By DCFC79 11th Jun 17, 11:04 AM
    • 30,398 Posts
    • 19,220 Thanks
    DCFC79
    Help please we are really worried. We are trying to move house, downsize but we still need a mortgage. Both my husband's and my clearscore score has gone down by 10 and 12 respectively but the report says no changes! We have been so careful with money this seems like a proverbial slap in the face. Can anyone shed any light and is there anything we can do about it. Our credit club score has improved! thanks
    Originally posted by carolynw
    The score doesn't matter.
    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.
    • moogl3s
    • By moogl3s 16th Jun 17, 9:56 AM
    • 1 Posts
    • 0 Thanks
    moogl3s
    Hi all,

    I've read the Credit score article online here. What I couldn't find out is, whether it is worth re-opening an old current account to help show I've had an account for a long time? I closed it last year after not much use but then saw the part where a long standing account can help your score.
    • zx81
    • By zx81 16th Jun 17, 10:00 AM
    • 14,378 Posts
    • 15,159 Thanks
    zx81
    then saw the part where a long standing account can help your score.
    Originally posted by moogl3s
    D'oh!!! .
    • ben1888
    • By ben1888 23rd Jun 17, 4:03 PM
    • 1 Posts
    • 1 Thanks
    ben1888
    Overdrawn due to interest
    I had a dormant account within an agreed overdraft (balance sat at about £248, £250 was the agreed limit)

    After a few months dormant the interest on the overdraft resulted in the balance going beyond the agreed limit of £250, but I did not notice this as it was not in use. This repeated for 4 months, by the 4th month I was only beyond the limit by a few quid but I now have '6 months of late payment' on my credit report which has crippled my credit score.

    Do I have any course of action to help this? Is the bank partly at fault for allowing this to happen?

    Furthermore, upon realising the situation I immediately paid into the account to bring the balance back up to zero and closed the account, this was 9 June 2015, the account first going over the credit limit on 26 February 2015.
    • zx81
    • By zx81 23rd Jun 17, 4:10 PM
    • 14,378 Posts
    • 15,159 Thanks
    zx81
    No. It's your fault.
    • cjmillsnun
    • By cjmillsnun 25th Jul 17, 5:51 PM
    • 346 Posts
    • 224 Thanks
    cjmillsnun
    If you were not using the account, why did you not pay off the OD?

    It's your responsibility to check your own accounts.
    • Kikikickin
    • By Kikikickin 3rd Aug 17, 7:51 AM
    • 22 Posts
    • 20 Thanks
    Kikikickin
    Improving credit rating
    Hi, Can anyone help? I've just joined Credit Club and even though my finances are in good shape, my score is 'poor.' The 2 problems are lack of 'account stability' and 'credit applications.'
    I've done a switch around of my banking recently so opened a couple of accounts and have changed to a cheaper phone provider.

    I've looked on '37 Credit boosting tips' article but can't figure out how to improve my score now since it's due to several recent applications.
    I pay things on time and have a credit card which I pay off each month. I don't have too much credit.
    Can any one offer any insight/tips? Thanks in advance
    Last edited by Kikikickin; 03-08-2017 at 7:54 AM. Reason: add details
    • zx81
    • By zx81 3rd Aug 17, 7:53 AM
    • 14,378 Posts
    • 15,159 Thanks
    zx81
    The trick is to understand the irrelevance of the score.
    • Kikikickin
    • By Kikikickin 3rd Aug 17, 8:08 AM
    • 22 Posts
    • 20 Thanks
    Kikikickin
    Ok, I've had a look some more and I get that the score is irrelevant.

    But where does that leave me regarding the fact that I've opened a few accounts recently, and none of my accounts are longstanding? Does that mean there's nothing I can do to make myself more attractive to lenders aside from what I'm doing already?
    • DCFC79
    • By DCFC79 3rd Aug 17, 8:13 AM
    • 30,398 Posts
    • 19,220 Thanks
    DCFC79
    Ok, I've had a look some more and I get that the score is irrelevant.

    But where does that leave me regarding the fact that I've opened a few accounts recently, and none of my accounts are longstanding? Does that mean there's nothing I can do to make myself more attractive to lenders aside from what I'm doing already?
    Originally posted by Kikikickin

    You cant change the past but you can change what you do from now onwards using a credit card.
    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.
    • zx81
    • By zx81 3rd Aug 17, 8:22 AM
    • 14,378 Posts
    • 15,159 Thanks
    zx81
    Time will do the rest.
    • DCFC79
    • By DCFC79 6th Aug 17, 9:30 PM
    • 30,398 Posts
    • 19,220 Thanks
    DCFC79
    if you need to improve your credit score contact keinetcybertechno@@gies@gmail.com ,he did mine within 24 hours and cleared my unwanted collections,also collects payment after the job is done
    Originally posted by aponte jessica
    Anyone who sees this don't do it please as it's not possible.
    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.
    • vishva
    • By vishva 10th Aug 17, 3:13 PM
    • 3 Posts
    • 2 Thanks
    vishva
    7 steps to raise your credit score

    Watch those credit card balances.
    Eliminate credit card balances.
    Leave old debt on your report.
    Use your calendar.
    Pay bills on time.
    Don't hint at risk.
    Don't obsess.
    • Dandytf
    • By Dandytf 31st Aug 17, 6:40 PM
    • 925 Posts
    • 351 Thanks
    Dandytf
    7 steps to raise your credit score

    Watch those credit card balances.
    Eliminate credit card balances.
    Leave old debt on your report.
    Use your calendar.
    Pay bills on time.
    Don't hint at risk.
    Don't obsess.
    Originally posted by vishva

    Excellent advice.

    Maybe add Allow Time!
    sc dmp 2012 13k

    Jan 2018 8759 paid. 60% ish...
    • $hift36
    • By $hift36 5th Sep 17, 10:48 AM
    • 1 Posts
    • 0 Thanks
    $hift36
    What is the best way to improve credit with no history?
    Hi people,

    I would like to know the best (and safest) way to boost my chances of credit. I have done the free Experion check and got 999/999 but with my chances of credit being v.low, due to no history I think.

    I have only ever had one loan from the bank which I paid off early. I dont have any credit cards, only debit cards with an overdraft of £250, which I have only gone into accidently once, and for less than 24hrs.
    I did have a pre paid Mastercard a few years ago with... Pay Plus? Credit Plus? Something like that, which I only used a couple of times before it drained my pre loaded funds for non usage and then when it expired I just cut it up and forgot about it because I didn't want to pay the £10 cancellation fee. Would this be working against me, or does it not matter as it was pre paid card? Is there a way for me to check this status?

    I am currently renovating a house and living off savings, so not claiming any benefits, or earning anything to contribute tax. Living at my mums very cheaply. My only outgoings are; mobile phone contract, car insurance, car tax, all paid monthly via direct debit. I have never failed to pay any bills.

    I am 36 now and have always been risk averse when it comes to credit / debt, and prefer to save for things I want or need. If I can't afford it I can't have it attitude. I even did 3 years in Uni why living at home and managed to survive off the grants alone, no student loans, no student debt. Tight !!!! lol.

    However, I have a plan to setup a PLC and would like to obtain a loan in the future to help me get the business off the ground but looking at my Experion report have a feeling I have work to do first. I have seen there are .gov new business loans available but at 6% they are not that appealing when there are offers out there of 0% for 4 years.

    I would appreciate any help on my best way forward in improving my chances of credit and how to go about it. I have seen the special credit build cards on here but am unsure which to go for. Do I have to actually use the cards or can I just apply and then cut them up and not use them? If I have to use them can I pay them off early or do I have to wait to go into the overdraft? What size overdraft do I need to boost my history and not affect my score? If I go into the overdraft, how long do I get before I get stung?

    So many questions... so little space

    Any and all help is appreciated.

    Thank you.
    • zx81
    • By zx81 5th Sep 17, 10:52 AM
    • 14,378 Posts
    • 15,159 Thanks
    zx81
    With no earnings at all, you won't get a credit card. Once you start earning, look at a sub prime provider or your own bank.

    So until you start earning, make sure you're on the ER and that any bills are paid on time.

    You need to use a card to build credit history (not score, which is fictional and should be ignored). Spend and clear in full each month, once you get the statement.

    Credit cards don't have overdrafts. Current accounts do, but stay out of it if you have one.
    • MakeAChange
    • By MakeAChange 27th Oct 17, 8:13 PM
    • 95 Posts
    • 38 Thanks
    MakeAChange
    Hi all, just a quick one, I have some old defaults on my credit report but they say last updated 2012, why is this, i think if they were updated they wouldnt be there as very old (bad stage in my life) and iv been super careful since.

    What should I / could I do about this?
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