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

Moggles_2

gowgowuk wrote: »

It was an American Express Nectar card. I have to say I was hoping for something a bit quicker than that ...

I know, I've been there. This is one area, where it pays to plan well ahead.

Obviously, I don't know how many credit cards you have on the go, but unless they're all maxed out, I'd be tempted to bung in an application anyway
(The credit limit you're handed may be lower than you'd hoped, but Barclaycard only allows BTs up to £5000 in any case.)

Very best
M

soldierboy_3

I`ve found out that my credit rating is bad. I am not on electoral roll yet (but fully intend to do that now...)

more worryingly, i have a default, wshich arose from a mobile that i never hardly used, then when i thought it was paid off, i`d not been put down to the lowest tarriff to pay off.

I`m in the army, went on tour, moved house (twice) and got a new mortgage.(since the date of the default.)

Yet on trying to get a loan i found all this out and managed to find they`d sent to my original address then handed the account to a credit company!!!

I immediately paid the balance - which a, i`d never used and b, didn`t feel i should but am now stuck with this default that lkasts for 6 years??????????

Any help or ideas gratefully recieved !!!!!

Will S-K

Moggles_2

soldierboy wrote: »

I have a default, which arose from a mobile that I thought was paid off. ... I`m in the army, went on tour, moved house (twice) and got a new mortgage (since the date of the default.)Yet on trying to get a loan I managed to find out they`d sent to my original address, then handed the account to a credit company! I immediately paid the balance ... but am now stuck with this default that lasts for 6 years

We do not have the right to have information removed, if it is correct.

You can ask the credit reference agencies to put a notice of correction on your reports (up to 200 words) explaining why you think information on file is misleading. For instance, you may want to explain your situation at the time and why it is now different. This notice will then be seen by anyone reading your credit reports, such as a lender making a search when you apply for credit.

Most credit decisions are computerised. If there is a notice of correction on file, your application must be referred for a manual decision. In other words, a person will decide whether or not you can get credit.

le22

I got my credit report and i came out fair on that, but found out that i had missed 3 payments on a current account about one and a half years ago. since then i have been accepted for cc and loans, but will this affect me getting a mortgage in about a years time?

wacaday

Some 2 years ago, i fell victim to a "bad trace" by Barclaycard Recoveries for someone with a similar name (but same DOB) who had defaulted. I told them it had nothing to do with me and I'd never held a Barclay account of any kind. Since then I've had over 20 various debt recovery companies chasing this persons (and his associates) numerous debts at my address. After 100's of calls and letters, all but 3 remain on my credit report but the link to my address is there too. I've complained to Barclaycard in writing and spoken/written to the other 2 without joy and Experian can't do any more. How do I get these items off my report? I am on the Electoral Roll and have a perfect credit history!

John_Pierpoint

As a victim of identity fraud, I can tell you it is impossible to prove a negative.

Moggles_2

wacaday wrote: »

Some 2 years ago, I fell victim to a "bad trace" by Barclaycard Recoveries for someone with a similar name (but same DOB) who had defaulted. I told them it had nothing to do with me and I'd never held a Barclay account of any kind. Since then I've had over 20 debt recovery companies chasing this person's numerous debts. After 100s of calls and letters, all but 3 remain on my credit report, but the link to my address is there too. I've complained to Barclaycard in writing and spoken/written to the other 2 without joy and Experian can't do any more. How do I get these items off my report?

If you feel you have grounds for complaint against Barclaycard, I would request a copy of its complaints procedure. This sets out the time limits allowed for dealing with your complaint.

The bank is also obliged to confirm the result of your complaint in writing.

You have the right to take your complaint to the Financial Ombudsman, if you are not satisfied with the outcome.

wacaday

Moggles wrote: »

If you feel you have grounds for complaint against Barclaycard, I would request a copy of its complaints procedure. This sets out the time limits allowed for dealing with your complaint.

The bank is also obliged to confirm the result of your complaint in writing.

You have the right to take your complaint to the Financial Ombudsman, if you are not satisfied with the outcome.

Thanks for the reply!

Complaint has been pending for months and I've had several letters from em, they have now passed it on to the fraud dept (spoke to them 2 years ago so I'm not holding me breath) and closed the complaint! They want me to send them another copy of my passport/driving licence/proof of signature to them even though I've already supplied them with one! Joke or what!..... Trouble is, that apart from the severe agrro and a few £'s of phone calls and stamps, I've not lost any money, and I dont really want any compo (although a gesture would be nice) so taking the complaint further is not really appropriate. Their trace, debt and link to my address is still on my report today and I just want it gone.... I've cancelled my Experian account as its pointless, luckily I don't require any loans etc at the mo! Any other suggestions?

CannyJock

wacaday wrote: »

Thanks for the reply!

Complaint has been pending for months and I've had several letters from em, they have now passed it on to the fraud dept (spoke to them 2 years ago so I'm not holding me breath) and closed the complaint! They want me to send them another copy of my passport/driving licence/proof of signature to them even though I've already supplied them with one! Joke or what!..... Trouble is, that apart from the severe agrro and a few £'s of phone calls and stamps, I've not lost any money, and I dont really want any compo (although a gesture would be nice) so taking the complaint further is not really appropriate. Their trace, debt and link to my address is still on my report today and I just want it gone.... I've cancelled my Experian account as its pointless, luckily I don't require any loans etc at the mo! Any other suggestions?

If you've already tried all of the above them Moggle's suggestion to take it to the Ombudsman sounds like the best step. If you've already done all of the above then it'll be zero effort to fill in the form to try and get your records sorted.

Smithy871

I took out a loan a few years ago with my bank; I was impatient and wanted a new car so took whatever rate they offered, which of course wasn’t any good. I wanted to shop around for a better rate so I checked my credit history with Experian two months ago and it showed several missed payments and a credit score of under 500. I have never missed a payment for anything so complained to Barclays (Barclay loan payments were showing a missed) to get the matter resolved there end.
It’s been 2 months now and I’m no further, in fact they have just asked for the details of the credit report to check, I took this into the bank when I first complained!
Does anyone have any advice to get this sorted, I could after all have taken out a cheaper loan 2 months ago, and I’m also going to need pay monthly insurance next month. Should I give them time or go to the ombudsman now? Should I get compensation?
Cheers