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

Tixy

triac wrote: »

- Yes I am on the electoral roll
- Both cards only quote they use Experian
- No I have no debt currently due to not owning a house (quite the opposite a big pile of money in the bank !).

I think I'm just getting shafted for not making them any money !

Have you ever had a credit card before?
Who did you apply with recently and got turned down by?
What other credit accounts do you have showing on your credit file?

Possibly could be a lack of credit history causing the problem?

lucky_monster

lee1985 wrote: »

It will automatically drop off tomorrow and no-one will ever know you had a CCJ

I have just checked my report and its still on there, i know its only been one day since the 6 years are up but obviously I want it gone ASAP anything I can do to speed up its removal? I've had it 6 years so a little while longer won't hurt but i want the damn thing gone.:p

despair_2512

can anybody help me? To cut a very long story short, I had a dormant bank account with allaiance and leicester which i was unaware needed to be funded by 500 pounds each month or else i woudl incur and under funding fee. it was an online account, and as it wasn't in use i didnt check it.

I retunred from a long business trip to find letters from santander collections dept advising that i was overdrawn. The fees had taken me 4 pounds overdrawn and then dailty unarranged borrowing fees were applied so it quickly escalated to nearly 300 pounds. I called immediately to pay it off, but sanatder refunded all the fees.

the problem was that they had reported the arrears to experian. Santander advised that they would erase teh entries, but 2 weeks later have come back and said that they now refuse to do this.

I have just been refused a mortgage becasue of these entries.

I cant get anwhere with santander, they refuse to help but a four pound accidental overdraft is going to severly impact my life.

I accept my part of the responsibility, but it was an oversight and i rectified it immediately. the crime does not fit the punishment.

Does anyone have any advice on how i can get these entries removed from my report?

many thanks

Tixy

despair

Only thing you can try is scaling up your complaint within santander. Has everything so far been done by phone? try writing a letter and copying in the CEO or some other equivalent bigwig and asking them if they will reconsider removing the entries.

What is actually on your credit file? how many months did it continue for?

If you cannot get them to agree to remove them then you could possible consider writing a notice of correction on your credit file but these only tend to have a limited impact, you'll either need to try a less fussy mortgage lender (possibly subprime) or wait until the negative entries are older and therefore have less impact before you get a new mortgage.

Tixy

lucky_monster wrote: »

I have just checked my report and its still on there, i know its only been one day since the 6 years are up but obviously I want it gone ASAP anything I can do to speed up its removal? I've had it 6 years so a little while longer won't hurt but i want the damn thing gone.:p

Which report did you check? for some reason equifax often take a week or so to remove things that are 6years old.

gerrybhoy1974

Hi folks, just a quickie I hope.
Is there a guide to how many points are added to your credit score with equifax after being added to the electoral register at your correct address?
I realise this may be a complicated formula, but thought I'd ask here.
My score is in the 'very poor' category but slowly dealing with the last remaining debts
Thanks

lucky_monster

Tixy wrote: »

Which report did you check? for some reason equifax often take a week or so to remove things that are 6years old.

It was equifax i checked, also I have just opened a cheap mobile phone contract and a credit card to help improve my rating about 3 months ago neither search or subsequent payment is shown on that report. Do they take extra time to add them?

Tixy

A search would normally appear within 24hours, often instant. Maybe the companies you used search experian rather than equifax?
It can take a month or so for a new credit account to appear on your file (although again it might be that it will only appear on one of the other CRAs not equifax).

triac

Tixy wrote: »

Have you ever had a credit card before?
Who did you apply with recently and got turned down by?
What other credit accounts do you have showing on your credit file?

Possibly could be a lack of credit history causing the problem?

Yes I have had a number of CCards before, but none in the last 3 or 4 years (have had 2nd card from wife)

Could this be the issue ?

shizzlebizzle

Hi - posted elsewhere about pre-card application nerves & advice, but this is purely a credit file question.

I had minor (c£2.5k) debt problems about 9 years ago and signed up with CCCS for help and a Debt Management Plan (DMP). I finally cleared everything early 2008, the last remaining debt was a Capital One card. I'm pretty certain that in 2002 I officially defaulted that card, but can't remember the details. Before that time (2002) I'd also failed to clear a student bank a/c o/d of £800, stopped answering letters, moved house etc - by the time it came to my DMP, the bank no longer had my details, the o/d had gone to debt collectors but they couldn't give details of who, and I didn't have any paperwork to contact collection agency and pay off - so it never got paid despite my efforts.

My credit file (Experian & Equifax) now looks very clean - no record I can see of the DMP, or the defaulted bank a/c. And fwiw, my score is 'excellent' with both. But I was refused a clutch of rubbishy cards last Spring during a family emergency, & I'm still worried why that was - hopefully because I was working part-time, not much recent credit history, the DMP would still be showing up then? worried about these old debts lurking somewhere I can't see - I was in debt trouble 9 years ago, finally got all but the bank o/d cleared 3 years ago, is this long enough for me to now be a better risk for some very modest borrowing (for uni fees)?

Don't know whether to risk an application / rejection for a 0% card, try and build my rating with a sub-prime card (even though I look 'excellent' already).. Any thoughts?