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Credit Rating: How it works and How to improve it discussion area
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Please can someone help/advise me. According to my credit report that i got last year things should now be looking a lot better with defaults & ccj having passed the six years. However, i recently applied for an aqua card and got declined - i've been trying for 3 weeks to get my credit report from experian but its becoming a painful saga. If i've bene declined for aqua how on earth do i rebuild my credit status or at least start to.A home is not a home ..... without a dog0
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Why has it been hard getting your credit report?0
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santsharan81 wrote: »I see advice on this site that one must reduce any unrequired credit card limits to have a better credit score.
Really? Martin has never mentioned this in his articles... whereas another website says having a low usage ratio (used credit/total available credit) is good which essentially means that it's better to have high available credit limit. Please clarify what works best.
Please read #441 and #449 just above yoursPeople who don't know their rights, don't actually have those rights.0 -
I'm a discharged bankrupt waiting the 6 years for my file to clear, which will be 2012... I've got a Vanquis card with a DD set up to pay full balance to repair my credit, but even when the credit file is eventually wiped, I know that when applying for mortgages if they ask on the form 'were you ever made bankrupt' obviously I will have to reply honestly. My question is, ARE there any mortgage companies that DON'T ask this question? A chap on TV last week was told by Martin and his experts that by following these steps to repair his credit, once his credit file was cleared of the bankruptcy he would be able to get a mortgage at a competitive rate - if so, which companies would he be able to get these deals from? I'm sceptical (but hoping it's true....)0
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Claireannejames wrote: »I'm a discharged bankrupt waiting the 6 years for my file to clear, which will be 2012... I've got a Vanquis card with a DD set up to pay full balance to repair my credit, but even when the credit file is eventually wiped, I know that when applying for mortgages if they ask on the form 'were you ever made bankrupt' obviously I will have to reply honestly. My question is, ARE there any mortgage companies that DON'T ask this question? A chap on TV last week was told by Martin and his experts that by following these steps to repair his credit, once his credit file was cleared of the bankruptcy he would be able to get a mortgage at a competitive rate - if so, which companies would he be able to get these deals from? I'm sceptical (but hoping it's true....)
I am also an ex bankrupt however although mortgage companys ask this question they will look at each case and providing your credit files are spot on for the six years after original bankruptcy it is more than likely the providor will considor the application more favourably.0 -
I've just registered to see my credit score with experian, under the free trial, but they couldn't confirm my identity (foreign name, less than 2 years at current address, several ways of writing address...) - anyway, they asked me to send bills and passport copy, and all that.
I'd rather not be bothered now and wait a few more months: is it a problem if I don't send anything, will they start charging me?
They do say that the free trial period only starts once they receive the information and confirm my id, but I'm not sure...
(or maybe I should just call them and ask, but I wondered if this had happened to another person as well)
ThanksBeing brave is going after your dreams head on0 -
ScarletBea wrote: »I've just registered to see my credit score with experian, under the free trial, but they couldn't confirm my identity (foreign name, less than 2 years at current address, several ways of writing address...) - anyway, they asked me to send bills and passport copy, and all that.
I'd rather not be bothered now and wait a few more months: is it a problem if I don't send anything, will they start charging me?
They do say that the free trial period only starts once they receive the information and confirm my id, but I'm not sure...
(or maybe I should just call them and ask, but I wondered if this had happened to another person as well)
Thanks
Try logging into Experian if it comes up asking for PIN then chances are you will be charged and should phone Experian to ask them to send PIN, this happened to one of my family members after Experian had asked for ID. It should however state we have asked for ID and that you should send it after logging in.0 -
Thanks, I called them and they did say that there was nothing to cancel, however they deleted my application so that I can do it again in a few months or 1 year (that's what I said I wanted to do, wait a while so that they'd have more information).
It seems everything was ok though, the lady was going "I can see your bank accounts" --> is it true that our bank accounts appear in a credit report? Not with the balance, I hope...Being brave is going after your dreams head on0 -
ScarletBea wrote: »I called them [Experian]and they deleted my application so that I can do it again in a few months or 1 year (that's what I said I wanted to do, wait a while so that they'd have more information).... Is it true that our bank accounts appear in a credit report? Not with the balance, I hope.
This is one reason why it's a good idea to order a credit report. Once you know what lenders see, you are in a better position to improve their opinionI said I wanted to ... wait a while so that they'd have more information
You mentioned that Experian were unable to confirm your identity (foreign name, less than 2 years at current address, several ways of writing address...)
This is not explained by the fact that you have a foreign name and have lived at your current address less than two years. If there are several ways of writing your address, that could certainly be a factor, but you will need to tackle the reason(s) sooner or later. The passing of time alone won't make any difference whatever.
Btw, you don't have to go for the free trial. Your Experian report is available by post for £2 per paper copy (For details, see page 1 of the *How to obtain credit reports* sticky.) Experian sends explanatory notes which are a good read as well. Credit scores are at best a very rough guide and not worth paying extra for, IMO.People who don't know their rights, don't actually have those rights.0 -
Hi,
Hope someone can give me advice. I am currently a homeowner and lived in my address for 18 months. I am a Police officer and have been for 5 years, i have one credit card, a store card and a car on finance through black horse. I haven't been the best behaved in the past and have missed the odd payment on credit cards and store cards when i was a student. I have never missed a major payment though with any big lenders and many of my accounts have been settled in the past.
Approx 2 years ago i apparently "defaulted" on an HFC account, i was on the understanding the money was stillcoming out. However through no fault of my own "so i believed" the bank cancelled the direct debit once when it had returned. I moved house and was unaware of the letters sent out from hfc asking for the money.
I recently used experien and checked my credit file and score and was horrified to find my credit score as 370 stating that 68% of the nation was higher than me and i was considered high risk!!!!
I have been in full time employemtn all my life and never been bankrupt or had ccjs. I was appalled to find out that i was regarded as high risk. I recently had car finance rejected twice and one of those was by the same company who i have a car on fianance with already, i wanted to swap my car for one cheaper aswell and black horse declined!!!! When you phone up all you get is "sorry we cant tell you why over the phone"
In the last 12 months sincei bought my car i have less debt, lived longer at my address and am earning more and haven't missed any payments.
This just seems like a vicious circle, surely there are people in far worse situations than me who are getting credit!!
What can i do!!!???
Phill0
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