Aqua Card, Am I being dense ?

Charliefiggis

Can anyone help me please!

We had our first statement through yesterday which felt quite nice in a way(first card to try and build back a better rating).

Anyway, looked on the back to see who the cheque needs to be made payable to and it said the prinipal account holder

Now am I being dense or does that make it seem like you are writing a cheque made payable to yourself?

Anyone who can correct my line of thinking please

darcyvuqua

i would like a aqua card but was refused about 4 months ago!!

i see where your coming from in the term principle account holder as yes that would be you but i aint sure so bump!!

Charliefiggis

Thanks for the bump.

My OH was approved for this one abour 6 weeks ago. I was allowed a Capital one about the same time. First time applying for anything since the s**t hit the fan with our finances about 2 years ago.

We have been very good with the spending and always make sure the cash is in the bank before spending. Going to leave a couple of £ balance on each one as I understand this is the best way to improve your rating, but feel free to correct me if I have misunderstood.

darcyvuqua

as you can see i have a default but cap one gave me £100 bit rubbish but its a step in the right direction

Charliefiggis

Every little helps:j

We had defaulted balances of £45k, still got 23k with a charging order on our house( the debt was never secured on the property originally).

We never thought we would be approved but just goes to show that everyone must get better in creditors eyes eventually.

darcyvuqua

i only have a £100 ccj from dvla and it has screwed me up big style

Charliefiggis

I can now say that it will get easier to deal with an indiscretion, We have had majors and every good month that passes makes it a step closer to that timescale of having a clean file.

I think I may repost my original question in Proliants neverending mind of information, see you in there.

dhassen

Charliefiggis wrote: »

Going to leave a couple of £ balance on each one as I understand this is the best way to improve your rating, but feel free to correct me if I have misunderstood.

Charlie, as far as I can tell, the idea (for a credit building CC) is to spend a few £s every month, but make sure you pay off in full every month. That way you get charged no interest, but you get green zeros all down your credit report.....
if you leave a balance you'll just get charged interest, so clear it every month.