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

munchkinz

Hi all,

I'm wondering if any of you helpful people can give me some advice.

My husband has no credit rating as he lived abroad for 15 years and has only been back in UK for 1.5 years. We have tried getting his credit report but they cannot verify him.

He is now registered on the electoral roll, but we are renting and he is self employed. He tried to get a mobile contract but was declined.

We are wanting to buy our first house within the next 12 months but at this rate he will not be able to get a mortgage.

How can we build him a credit rating?

The capital one card says you may be declined if you have no uk credit rating, so have applied but not holding much hope.

How long does it take to build a good credit rating?

Any help would be gratefully received.

TracyT28

Dr_Cuckoo3 wrote: »

"affordability" or your bank has a conservative lending policy

does this mean I wont be able to get a loan anywhere else? my bank is Nationwide?

Maestro.

munchkinz wrote: »

Hi all,

I'm wondering if any of you helpful people can give me some advice.

My husband has no credit rating as he lived abroad for 15 years and has only been back in UK for 1.5 years. We have tried getting his credit report but they cannot verify him.

He is now registered on the electoral roll, but we are renting and he is self employed. He tried to get a mobile contract but was declined.

We are wanting to buy our first house within the next 12 months but at this rate he will not be able to get a mortgage.

How can we build him a credit rating?

The capital one card says you may be declined if you have no uk credit rating, so have applied but not holding much hope.

How long does it take to build a good credit rating?

Any help would be gratefully received.

try vanquis bank. they gave me a CC and I have no record either, except a bank account.

matthewC

Hi

I found that British Gas have me showing as having a string of defaults for an unpaid gas bill on a property that I used to live at. I did not know about the bill being unpaid and paid it as soon as I found out about it when I did a credit check on experian.

Is there anything I can do as the line of defaults showing is having a massive impact on my credit score even though the account now shows as settled

Thanks in anticipation!

dailyunnamed

Hi everyone, I was wondering if someone could help me please? For the past few years, I have been living in flats, which have all had addresses that are completely inconsistent depending on what database or service I use.

My current flat is the same, and I am starting to consider whether I should just use the general house as my address, e.g.

100 My House, as opposed to Flat 1, 100 My House

My question is that, should my address reflect the one on the electoral roll, for the sake of my credit rating, or will it be OK as long as it is along the same lines?

Any advice would be greatly appreciated - thanks!

Tixy

dailyunnamed wrote: »

My question is that, should my address reflect the one on the electoral roll, for the sake of my credit rating, or will it be OK as long as it is along the same lines?

In terms of applying for credit / items that would appear on your credit report its advised to use the exact address as you appear on the electoral roll.

dailyunnamed

Thanks a lot for your reply, I would assume this to be the address that the council uses to contact me?

celtxian

I truly believe that credit rating agencies are ripping us off. Honestly, charging £14.99 per month to check our credit rating etc - they are having a laugh!

IMHO its an infringement of my human rights to collect data secretly on me and than make financial decisions based on this information without my knowledge. Its time for MSE to start a campaign in this. Never mind the £2 statutory fee - this data is our personal data. Granted banks etc. can collate info on our activity with them but to say they can then share this info with who they like and not ask our permission - its disgusting!

Come on Martin - its time to take up the cause!

piglet39

Mmm - ok granted £14.99 is a lot (I pay £6.99 per month thro' my CC) but you can obtain these, as you say, for £2.00 each. What £14.99 (or whatever deal you can get) is paying for is the convenience of seeing your report instantly whenever you like. Sadly:)£6.99 per month is something I'm quite happy to pay as it's one of my only pleasures (actually that sounds truly sad!)

If you have a CC have you investigated deals with these - Vanquis offered me £6.99 per month and it comes with some fraud protection too I think.

Piglet

meer53

celtxian wrote: »

I truly believe that credit rating agencies are ripping us off. Honestly, charging £14.99 per month to check our credit rating etc - they are having a laugh!

IMHO its an infringement of my human rights to collect data secretly on me and than make financial decisions based on this information without my knowledge. Its time for MSE to start a campaign in this. Never mind the £2 statutory fee - this data is our personal data. Granted banks etc. can collate info on our activity with them but to say they can then share this info with who they like and not ask our permission - its disgusting!

Come on Martin - its time to take up the cause!

As far as i am aware, if any of your accounts have been opened since 2005, you will have automatically given your consent for information sharing. Thats how it works where i work. Might be worth checking with the companies you have financial services with before starting your crusade.