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

Hazzinho

Gazid you need to move your accounts to your current address with the electoral roll data that will help. If your debt is over 50% of your annual wage or you've got bad credit you may struggle to get a 0% card. It will also take about a month for your file to be updated.

angelis76

Hazzinho wrote: »

If you pay the minimum payments you can't be defaulted. problem is your not getting anywhere. I take it you've tried to get a 0% credit card?

I have but get refused, so tried to get the repayments reduced and the interest froze

barooba

Hi,
I went for a job interview yesterday for a call centre and it all went well but they are going to do a credit check on as part of the recruitment procedure. My rating is not good will this mean I have no chance of the job?
Vheers
Mike

chexum

barooba wrote: »

I went for a job interview yesterday for a call centre and it all went well but they are going to do a credit check on as part of the recruitment procedure. My rating is not good will this mean I have no chance of the job?

Not necessarily - depends on why is it not good. Anyone not actually supplying you with credit will not see your credit history just your public, and identifying details:
- any ccjs, decrees, bankruptcy from the last 6 years and their details
- tax problems
- ID confirmation, including electoral roll, DOB, and name aliases, and often linked addresses

Remember, they are not looking for your credit/payment history, but major issues you may have lurking in your past, that can cause problems for the employer - like debt collectors calling you every other day, and making you more stressed while at work. Missed payments won't matter, defaults might. They may see the number of your recent credit searches too.

barooba

Thanks for the advice, ehm.....I've an outstadng electricity bill from a previous address, and they asked for a five year living history and I told them about this student house and I haven't heard from the student loans company for years.....I know I'll not get a credit card but all I want is a job.
Oh and it is a call centre that deals with bank details and are FSA regulated.

catriona79

Hi,

I have just had a credit report from Experian and Equifax. Both show lots of credit cards that I used to have in the past, but which have no outstanding balance on them.
Most of them show as "Settled". Does that mean closed?
Or just unused and I need to ring the provider up and close them?

Many thanks

izools

catriona79 wrote: »

Hi,

I have just had a credit report from Experian and Equifax. Both show lots of credit cards that I used to have in the past, but which have no outstanding balance on them.
Most of them show as "Settled". Does that mean closed?
Or just unused and I need to ring the provider up and close them?

Many thanks

Yes, "Settled" means they are closed

billbones

I have recently applied to Experian for my credit report. I got an email back from CreditExpert (which they told me was the online arm of Experian) requesting more details, which I have provided. As a final check, they have asked me to send original bank statements and a copy of my passport. Has anyone else done this? I'm a bit dubious about sending off my personal info like this so wanted to check whether this practice is normal.

Aztra

Hi,

My Virgin credit card was put on suspension a couple of years ago when I lost my job. I've been in work again since March 2010. I recently asked for the suspension to be lifted which was rejected due to a bad credit rating they said.

I got my credit check and it said excellent. When I called them, they said the actual reason they will not lift the suspension is because I have no other credit for them to check. That's because I was responsible when I started working again and paid off and closed my other cards! Now Virgin, who I was prepared to be a loyal customer to, are saying when I pay my last £200 to them they are closing my account.

Will I have the same problem if I require a credit check in the future? Do I need to apply for another credit card? I'm confused that an "excellent" credit rating is being a hindrance!

Hazzinho

Each lender has their own lending criteria based on your credit information, credit scores mean nothing. As long as you have no ccjs or defaults and you are on the electoral roll it should be reasonable. I'd suggest getting a cc with your bank and go from there, over time you will build your credit rating as long as you make payents on time.