Experian credit score PLEASE HELP!

Innocent_Guy

Hi All,

I am brand new to credit and wonder if you could help. I earn over 30k but have no credit apart from my bank account ( Plus account with cheque guarntee and overdraft ) I am trying to get a Credit card to start to build up a rating. My score is marked as POOR and is 590 currently. Would it be easier to get approved for a store card to start with?

Thanks in advance

sutton111

Have you asked your bank for a credit card? who's your bank?

Innocent_Guy

HSBC - They say the system doesn't automatically recommend it so I have a 95% chance of being rejected

Sammy_Girl

Hi Innocent Guy,

You need to try the "sub prime" cards to build up your credit. The apr is horrendous but if you make sure you clear the balance in full each month then you won't get charged for any interest. I'd suggest you try Aqua, Capital One, or Vanquis.

Do you have a contract mobile, as these are usually recorded on your credit file? Also, try getting a catalogue like Next or Littlewoods who both report to the credit reference agencies. Run them well for 6-12 months and you will see your score improve

sutton111

well, if you want to build your credit, with a credit card there is Barclaycard, capital one and vanquis. But bear in mind the APR is higher on these cards. hears a link to the barclaycard one it strengthens your credit history http://www.barclaycard.co.uk/personal-home/cards/initial/index.html. be careful with too many applications for credit they can harm your credit score futher, does HSBC report your account conduct to the CRA's?

Innocent_Guy

Hi Sammy Girl
I am not to concerned with regards to the APR as I plan to clear it anyway. No contract phone or anything.

Does anyone know what your credit score you start off with and what is your score?

Many Thanks tho!

Innocent_Guy

sutton111 wrote: »

well, if you want to build your credit, with a credit card there is Barclaycard, capital one and vanquis. But bear in mind the APR is higher on these cards. hears a link to the barclaycard one it strengthens your credit history http://www.barclaycard.co.uk/personal-home/cards/initial/index.html. be careful with too many applications for credit they can harm your credit score futher, does HSBC report your account conduct to the CRA's?

They do not report on CRA's unfortunatly!!! The only thing i see on my report is a Credit Check for the upgraded account that i have

Thanks tho

Innocent_Guy

Is it easier to get a store card? If so who with?

sutton111

personally, i would go for a credit card before a Store card you find you can only use them in that particular store(M&S store card is a credit card, but is issued by your bank!!!). A catalogue as sammy girl said is good next, littlewoods, jdwilliams etc. Or a credit card like the ones mentioned above. I thought they would report to the CRA's being its an overdraft how stuiped that!

Innocent_Guy

sutton111 wrote: »

personally, i would go for a credit card before a Store card you find you can only use them in that particular store(M&S store card is a credit card, but is issued by your bank!!!). A catalogue as sammy girl said is good next, littlewoods, jdwilliams etc. Or a credit card like the ones mentioned above. I thought they would report to the CRA's being its an overdraft how stuiped that!

Just didn;t want too many searches if store card was easiest

sutton111

no a store card isn't easier, a card like vanquis or aqua is the way forward.