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

BugsyBrowne

mate if your equifax is pretty good,this card is not sub-prime but not as harsh on credit scoring as other prime lenders.http://www.flybe.com/card/
or try sygma silvermastercard..

carlbrooks

Hi

Can someone help me, I have a number of debts many of which are old but i checked my credit report and there are only 5 on there one of which is appearing as settled?? dont understand please help

mnomis

never-in-doubt wrote: »

Hiya

Late Payment Markers don't really do much damage if in proportion, i.e. a couple a year - but if it shows like 1,2,3,4 (late) then it'll affect you for a while.

Most lenders refuse to remove them cos they are reflecting a true account of the payment history. If it is just the single late entry then it will have no affect whatsoever....

If you describe personal circumstances, it'd help answer you easier

Hi mate

and thanks for the reply.

I have discovered 5 "1's" and 1 "2" on two of the shop direct accounts that my wife opened and are also showing in my name.

These occured during her pregnancy, when she was in and out of hospital and I had no idea that payments were not being made! :mad:

On two of these hospital visits, we feared for the babys life and on one of those, the wife was in danger too.

Wife recovered and baby born healthily in August 09.

My wife has now been diagnosed with cervical cancer, so I've taken over the running of the accounts, setting up DD for min payments.

I've put all of the above and more in a letter to Shop Direct, hoping for some leeway from them.....

Any further ideas?

DonGotti

Hi all

I recently changed bank accounts and amended my bank account details on Barclaycard's website 3 weeks before my next payment was due. There was not information on screen to suggest that it would take longer than 3 weeks and I was not provided with any information that this would be the case.

Anyway a few days after my payment was due I received a call from Barclaycard stating a payment had been missed and that I could make a minimum payment via debit card to avoid late payment charges. I wasn't keen on giving my debit card details over the phone but did do so in order to avoid the charges and adverse information on my credit file.

However I checked my account the next day online and found that I had been charged £12 for the late payment with interest applied. I wasn't too concerned about the charges but am worried about having any negative information on my credit file. I therefore complained and although the charges were refunded, Barclaycard has placed information on my credit file stating that I was one payment in arrears. It has stated that it has a legal duty to ensure the information matches the status of my account, but I genuinely believe that I am not in the wrong as none of my other direct debits took this long to set up.

I'm really worried about this now as I am hoping to apply for a mortgage in the next few years. My credit file to date has been completely clean and I have never missed a payment on a credit card or even gone overdrawn. How long will this info remain on my file and will it have a big impact on future mortgage applications? What should I do?

TCB1

Hoping someone will be able to help.

My husband applied for an amex card for us both to use for all monthly outgoings with a view to getting the cashback.

However he was rejected, the letter stated
'the information we obtained from the credit bureau report does not satisfy our current membership requirements'

We have a mortgage, no loans and some credit cards that are paid regularly.

Do we need to get one those credit reports to see what the problem is or does amex have unusually high credit criteria?

BugsyBrowne

You need to have a look at your experian report,get the free 30 day trial..
And take a good look through that..electoral roll etc.

SomersetSaver

Hi don't know if anyone can help, please?

In March this year, RBS erroneously said we'd missed 3 months of payments on our mortgage. They admitted this was their error, there had never been an issue and (as of Monday this week) have updated at least my credit reports (not checked OHs yet). Between 16th March and 24th April it was showing up as 3 missed payments but was corrected on 25th or 26th April.

On the evening of Thursday 29th April my Smile CC was declined when I went to pay for my petrol and I got a secure message from Smile saying they'd reduced my credit limit from £5000 to £650 - leaving me £10 of credit left. I got a load of guff about how they monitor people's accounts constantly and it's to ensure they, or people they're financially associated with, don't borrow more money than they can afford. And said they may be able to review the position "once you have reduced limits/balances held elsewhere or corrected any issues with your credit profile".

I have no other debt (apart from the mortgage) or overdrafts, neither has my OH, so can only assume it's because of the data from RBS. I pay off my CC each month in full, so it's not as if I've ever had any long term debt with Smile either (i.e. it's just what I pay in the month - and I'd had a more expensive month than usual hence it being at nearly £650).

I've checked my credit report for all 3 agencies, and it all shows as clear.
I therefore don't know if
1) Smile are using 'old' data (i.e. when the erroneous data was there)
2) There are still items on my OHs credit files
3) Smile are using this as an excuse to cut my credit limit

Has anyone else got experience of this happening and think it is likely to sort itself out?
I feel really upset/angry that this has happened, especially as it's over a Bank Hol when I can't contact the Smile people to sort it out as they only work Mon to Fri 10am to 4pm. So I can't contact Smile until Tuesday and will have to try and do at work which is really hard in an open plan office.

I've drafted a complaint to the Ombudsman since I'm fed up with the way that RBS have dealt with this (as I had to phone twice to get it sorted as the first time they just showed it as clear at April, with 3 months payments still showing as being missed in March. At the worst, it should have shown up only as 1 month, rather than 3 - but that's a separate issue!) and they raised erroneous data in March 09 too (I didn't find out until December as it t luckily have any consequences)

Any views/help would be appreciated.
Many thanks
SS

CannyJock

Now that the data's been corrected, why not just apply for another card? If Smile don't want your business, there's plenty of others who will.

djbum_syd

Hi.

Sorry, if this in the wrong discussion area, I wasnt sure where this would go.

Just wondering if anyone can help me out with a query (or 2)?

I just checked my credit report and it said I have a Financial Connection with an ex-boyfriend from 4 years ago.
We never applied for anything together, just had both names on the home tenancy agreement. Havn't lived together for 4 years now.

Will I always be financially linked to him?
Neither of us had good credit, but as I'm trying to improve mine I'm worried his rating will hold mine back.

Also, I settled all my debts in January, and a couple of them are still showing as Defaulted or Money Owing.
How long does it take, generally, for accounts to show as settled?
I paid the full outstanding amounts for all debts.


Any advice people can give would be very much appreciated.
Thank you very much.


Lucy.

CannyJock

djbum_syd wrote: »

Will I always be financially linked to him?
Neither of us had good credit, but as I'm trying to improve mine I'm worried his rating will hold mine back.

Also, I settled all my debts in January, and a couple of them are still showing as Defaulted or Money Owing.
How long does it take, generally, for accounts to show as settled?
I paid the full outstanding amounts for all debts.

You need to record a Notice of Disassociation - the credit reference agencies can give you the details.

Can take a couple of months for accounts to be updated, though I've had LTSB accounts not updated for nearly 4 months. Was the account actually defaulted or did you just have a missed payment?