credit cards bad credit

softie

Does anyone know of any credit cards for people with a bad credit history. Ive seen adverts for a capital one "guaranteed accceptance" card but unfortunatly can't get one of these. Does anyone else offer anything similiar.

Joe_Bloggs

@Softie
Have your read Martin's credit rating article here?
It lists at the bottom credit reference agencies. If you apply for your statutory credit reports then you can get to see the information that is causing problems. You can request factual errors are changed and offer your own ammendments. You can split your financial affairs from other people when there is not any link. Statutory reports cost £2 each. Dont be fooled into any of those expensive online instant reports.
J_B.

softie

The reports are unfortunaly correct. My credit history is terrible due to using every conceivable method or extracting money form banks and credit cards while at university and subsequently ignoring them all whilst galavanting around Australia for a couple of years. Since then ive sorted everything out ,have a decent salary, savings, ISA's, Pension etc. I am however stuck, somewhat, between a rock and hardplace. I cant get credit because my credit rating is terrible and i cant improve my rating because i cant get credit.
Whilst i appreciate that i have got myself into this mess and companys are right to be v. cautious but its very difficult trying to convince companys that i am not the same person who ignored everyhting 3/4 years ago.

Martinslovechild

Capital One cards are usually recommended for people rebuilding credit or starting without any credit history at all.

The rates will obviously be higher, but if you aim to use the card and pay the entire balance off each month, then after 6 months or so, you should be able to go for cards with lower APR's.

softie

Capital One's out unfortunatly due to aforementioned frivolity although would be exactly what i am after. Does anyone else do something similiar?

bethyblue612

Don't know myself, but I'm pretty sure other people have mentioned store cards (as long as you pay them off in FULL every month) as another method of re-building credit history.

Reaper

I heard buying from catalogues on credit was even better as you can pay it off in weekly installments. That gives you a long payment history very fast.

Haven't done it myself though.

Joe_Bloggs

The bad stuff on your record should fade away after six years. You may not want to much exposure before then.
Why do you need credit and why would you have potential lenders dredge up your awful reports ?
Watch out for oppertunistic debt collectors. They may try a few stunts unless you have settled with all your creditors.
J_B.

nh

I think Barclaycard do a credit card for those with bad history (APR 25.9% or something though!) But just pay it off every month. Catalogues and store cards are a good way to go though.

hopefulfooluk

Hi Softie,

Try the citi classic plus visa card - 0% for 6 months, and they also give it to people with a bad history (as long as no fraud warnings are on your file).

Cheers,

Chris