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

anniecave

3676will wrote: »

my daughter can`t get a chip and pin account at her bank because her flat has a previous bad rating going back several years due to previous unconnected tenants debts how can she resolve this :mad:

I believe they stopped "blacklisting" addresses a while ago - if they ever did!

Has she been told this specifically? (That this is the reason they are rejecting her?)

Is she applying for a normal current account (eg with an overdraft/debit card) or a basic bank account, or a savings account?

Is it possible they have credit checked her and she has failed because eg she's not on the electoral roll there

If they are just worried about security, she could offer to pick up the card from the bank rather than it be sent to the flat?

Moggles_2

3676will wrote: »

My daughter can`t get a chip and pin account at her bank because her flat has a previous bad rating going back several years due to previous unconnected tenants' debts. How can she resolve this?

Credit ratings assess people, not dwellings. If you share a financial product (eg. joint bank account) with someone else, then you are financially linked to them and their
affairs could have an effect on your credit rating, but simply occupying the same flat as someone with a poor credit history, has no effect whatsoever.

Has she checked her credit reports lately to see what's on there? For help, see page 1 of the *How to obtain credit reports* sticky

marshmallows

Hi All,

My hubby has a quite poor credit rating, it has got much better since we got together, his x left him in alot of debt, they were in joint names. She didnt care about paying them so my hubby did

I am just wondering if any of the debt has been put against the house will that affect my credit rating when i officially move in (have been living with my parents for a while) and change electoral role/surname to hubbys etc

Moggles_2

marshmallows wrote: »

My hubby has a quite poor credit rating. His x left him in a lot of debt. It was in joint names. I am wondering, if any of the debt has been put against the house, will that affect my credit rating when I officially move in (have been living with my parents for a while) and change electoral roll/surname to hubby's etc?

Do you share a financial product (eg. joint bank account) with him? Simply occupying the same house as someone with a poor credit history, has no effect on your credit rating whatsoever. (Please read # 393 immediately above yours.)

marshmallows

Thanks moggles i did not see that above, seemed to have missed it

we do not have any joint finances , i knew that would affect my rating.
Need to keep mine the way it is while he is fixing his

Moggles_2

marshmallows wrote: »

Thanks Moggles ... We do not have any joint finances. I knew that would affect my rating. Need to keep mine the way it is, while he is fixing his

That's the idea. If you keep your financial affairs quite separate, you'll be fine

scoodies

Hello.....I just wondered if anyone would be able to point me in the right direction please?

I have a credit card with Capital One and am wanting to transfer this balance to another company (Virgin.....0% for 15 months). The problem is, I think my credit score is 'Good' but I'm not sure if they would accept my application or not. Also, my outstanding balance is £6k......SO, if I am accepted, do I have to ask for a £6k limit or will they just turn me down flat??????????

Any advice would be gratefully appreciated!!

b00kworm

Hi, looking for advice
Im a student at uni and looking through this site it would appear that no credit history is only marginally better than a bad credit history. I have no credit type things, only a student loan and a student account with an overdraft that I'm not using (though I will stick it into a savings account soonish). At some point I'll need to apply for morgage, loans, etc. Is it worth applying for a credit card just to boost my score? (though if I pay it off every month will that mark me as a bad customer as they wont make any money off me??)

I have everything registered at my parents house, including the electoral role (though I'm only 18 so haven't been on there for very long!) mainly so I don't have to change everything every year. Any suggestions to improve my score in the future?? I don't plan to need any serious credit for a while but I'm thinking ahead to when I finish university and a good record will seriously help.

Moggles_2

scoodies wrote: »

I have a credit card with Capital One and am wanting to transfer this balance to another company (Virgin.....0% for 15 months). The problem is, I think my credit score is 'Good' but I'm not sure if they would accept my application or not. Also, my outstanding balance is £6k so, if I am accepted, do I have to ask for a £6k limit ...?

Please see *Best Balance Transfer* thread, where you also posted

Moggles_2

b00kworm wrote: »

I'm a student at uni and looking through this site it would appear that no credit history is only marginally better than a bad credit history. I have no credit type things, only a student loan and a student account with an overdraft that I'm not using. At some point, I'll need to apply for mortgage, loans, etc. Is it worth applying for a credit card just to boost my score?

Yes.

Also, with today's online facilities, it's never been easier to keep track of cc spending than it is now and, used sensibly, plastic has many advantages, IMO

There's risk attached to everything but, in general, credit cards are the safest way to purchase goods/services. (If you carry cash, it could be nicked. If you use cheques, they could get altered - assuming you can find somebody that still accepts them)

... though if I pay it off every month, will that mark me as a bad customer, as they won't make any money off me?

Nothing could be further from the truth.
If you only ever spend what you can afford to pay back each month, you'll never pay interest and you'll be building a credit rating in the process