Credit Rating: How it works and How to improve it discussion area

Kez1983

never-in-doubt wrote: »

My HSBC shows on all 3 CRA's - is it new?

The mortgage won't affect anything..... if you bank with them (you must to get their CC) then they will already know you and use the CRA's as an external source only - their internal behaviour score will also help.

Nope have had it since I was 18, so about 8 years! Have banked with the HSBC since they came to my school and I opened a kids account with them! My current account doesnt show either, but on I have with the halifax that I dont use is on there!

nows_the_time

Hi i'm new here and was wondering if anyone would know if the Maternity Break that me and my husband have just taken from our mortgage will have damaged our credit rating?

I would like to get a new cc with 0% transfer (as interest i am paying on our two cards is ridiculous) but have been turned down.

Just wondered if the Maternity break would have had a negative impact?

Thanks for any help

never-in-doubt

nows_the_time wrote: »

Just wondered if the Maternity break would have had a negative impact?

Thanks for any help

No - you'll be fine.

never-in-doubt

Kez1983 wrote: »

Nope have had it since I was 18, so about 8 years! Have banked with the HSBC since they came to my school and I opened a kids account with them! My current account doesnt show either, but on I have with the halifax that I dont use is on there!

So you bank with HSBC or not, i.e. before the rule that you had to bank to get their card? If its old then they may not report, the way to get them to start reporting is to miss a payment lol - mad but it can prompt them into reporting an account.

Or send a secure message when you log-in.

Chrysalis

never-in-doubt, you have any idea how come I know people with ccj's getting credit within the 2 years? Also with bankrupty.

I know 2 people who are bankrupt managing to get loans and credit cards, one of them also managed to get a mortgage. All 3 people I know with ccj's have managed to get credits cards and catalogue's. They also all managed to get an orange contract phone which I am mentioning as orange turned me down last year (2008) and I have no ccj or bankrupty.

never-in-doubt

Different firms have different criteria, maybe they did have a CCJ but their partner is a fantastic risk or whatever so they based some score on that - who knows. Tesco are usually lenient but each company to their own...

In essence, usually a CCJ is a bad sign for at least 3/4 years. If lenders offer things within 2 then find out who and post on here lol.... Help others out. A few guys on sub-prime have got credit with defaults/ccj's - it really does vary between applicant to lender I think.

Bosie

Chrysalis wrote: »

never-in-doubt, you have any idea how come I know people with ccj's getting credit within the 2 years? Also with bankrupty.

I know 2 people who are bankrupt managing to get loans and credit cards, one of them also managed to get a mortgage. All 3 people I know with ccj's have managed to get credits cards and catalogue's. They also all managed to get an orange contract phone which I am mentioning as orange turned me down last year (2008) and I have no ccj or bankrupty.

I'm one of those naughty ones who has managed in a small way to build up my credit history again after bankruptcy in 2004.
I still don't understand how I have got the accounts that are on my sig below? All can think is that some only look back at about 3-4 years of your credit history.

I'm very very careful now and would never want to be as I was back almost 6 years ago. One thing I can't get is a full bank account, I think banks probably do a proper 6 year search etc.

nows_the_time

Thanks never-in-doubt. If you do have a poor credit rating is there a rule of thumb on how long it will take to improve that rating where there are no CCJs or Bankruptcy involved?

I definately need to get myself another 0% balance transfer card as the ones i have (virgin and Lloyds Airmile Duo) are cripling me, but have been refused for a couple so want to know how long it should take before i am in a better position.

Many thanks

never-in-doubt

nows_the_time wrote: »

Thanks never-in-doubt. If you do have a poor credit rating is there a rule of thumb on how long it will take to improve that rating where there are no CCJs or Bankruptcy involved?

I definately need to get myself another 0% balance transfer card as the ones i have (virgin and Lloyds Airmile Duo) are cripling me, but have been refused for a couple so want to know how long it should take before i am in a better position.

Many thanks

You should stop applying so much, 6 in 6 months or 13 a year is kinda maximum that the lenders like to see. Make sure you're on the electoral register and that you don't have too much debt-to-income ratio.

These should all help your credit score, long term.

deefadog

Hi all, hope i can get some advice on my wifes credit rating, Basically i went to change over a phone contract that's in my name to her's (as i have a company one) The money has been coming out of her account for over a year even though it was in my name, but we got a letter saying she did not meet their criteria, which means bad credit file. But she has no store/credit cards only a car loan and our joint mortgage, could this be the problem?

many thanks for any advice.

Take care