Credit Rating

missy82

Hi

Sorry if this is in the wrong place - please feel free to move.

I had a bad credit rating due to being young and stupid and ended up going to a company to consolidate all my debt - which i paid off in a lump sum early!

I've never had a CCJ although i did default a few times - i have tried applying for the Barclays Credit card that helps you rebuild your credit rating a year on from when ive cleared my debt, to find out my application was declined.

Any help on how to get my credit rating sorted would be appreciated as I am looking to buy a house sometime within the next year and if i cant get a credit card there is no way i will get a mortgage.

Any help would be great.

Ta

VanillaDelia

Hi I have heard having a few open credits which are used and of a good repayment history does help it, but not too sure whether its actually true. Do you bank with Barclays? As I find who you bank with gain trust from you when the bank account is kept in order, so if Barclays are not your usual bank then try your usual bank.

Are the defaults still on your file as they stay there for 6 years from the start date and so that will no doubt be the problem if they are.

missy82

Thanks for replying

No I dont bank with them, but i doubt i would get a credit card from my bank due to my credit history. i have 2 savings accounts with them and have a healthy bank balance - i may try but im just worried if i try and get declined its just going to look even worse!

those defaults were from about3 years ago, so they will still be there....is there no way i can get them off my rating? cos i would like to buy a house within the next year - couldnt wait another 3!

itsnever2lateisit?

Your credit file will hold records of payment history for 6 years. You don't say how many defaults you had, or how often. It is fair to say that the lower the values involved and the older they are, the less importance new lenders place on them. The only thing that will heal your rating is time I'm afraid.

Have you obtained copies of your credit reports? If you haven't, please do that before applying for any other credit. It might reveal the blinding obvious, it might contain errors, which if you don't know about, cannot correct

Donedoingdebt

The long & short of it is that your credit worthiness is damaged until the last of the defaults drops off your file which will be 6 years from when it was issued.
Generally, you can't get these defaults removed unless they were applied incorrectly.
Then may be the time to rebuild your credit worthiness, should you wish to do so.

RAS

As an absolute basic

Are you on the elctoral roll?

Are you associated (via the former) with every address where you lived in the last 6 years?

Do you rent or live with your parents?

And right now just about no-one is getting credit.