Newbie with questions

domgrima

Hi, I am a newbie, first time poster, so feel free to redirect me if I am posting in the wrong place etc.
I have just started sorting out my finances this year and have a number of queries.
I have finally realised that my OH is not great with money and I have been leaving the burden to her. I have now set up my own bank acount and am attempting to clear up some of our debts.

I applied for a personal loan with the new bank (Natwest) but was turned down. Could this be due to the joint credit history we have with Abbey?

Should I remove my name from the old joint account?

I paid for a credit report from Equifax, which shows the Natwest credit check, but checking my Credit score with Zopa, it seems to be "Good" as defined by Equifax' website. My latest plan is to apply for an SBT card and pay of the overdraft (which I took to Natwest), making use of 0% BT offers.

I believe Abbey do such a card, which is why I am hesitant in removing my name from the current acount. I am wondering whether being a customer with them for 10+ years would help me get their card. Or would the fact that we often incurred bank charges go against us? Would I be better trying elsewhere?

As to the credit report: I have one account with a mail order agency which I thought was closed, but turns out to be "active" but not being used. Would I be better closing this?

In general my accounts show occasional 1 month arrears (never higher). Is this a serious problem or not?

I have an account with a finance company for a PC, which I intend to pay off in April. This is for about £1200. Would I be better to defer applying for a card til then?


Enough questions for now. I hope I am not being crass asking so many questions, but as I say, feel free to correct me on matters of etiquette.

Cheers

The_Boss

Yes, being an Abbey customer would help.
Dont take the ZOPA rating too seriously. I'd be more interested in an Experian score.
The arrears are a slight problem, but at least its only a month behind so it could be a lot worse.
If the mail order account can be used for everyday purchases, keep it and pay it off in full each month to further build your record. If not, then probably best to cancel it.
Waiting for your PC to be paid off will certainly help, but it might not be totally necessary.

domgrima

Thanks for the quick reply. I'll order a statutory Experian report then. Tried the online free trial, but seems you need a credit card to sign up!!

Bokken_2

yes.
You pay your online £5 for your initial report but unless you cancel with them before the 30days is up they will continue to take from your credit card for the monthly amount which I think is about £15 ?.

domgrima

Trouble is I don't yet have a credit card! Just a debit card.

The_Boss

Actually, just realised that Abbey is done through MBNA, so its not going to be a bigger advantage applying through them. My gf has had her current account with them for almost 12 years and was repeatedly turned down. Seem that MBNA have a problem with her as she doesnt have a problem with others.

Bokken_2

domgrima wrote:

Trouble is I don't yet have a credit card! Just a debit card.

Have a look at the web page again and apply via the phone or the old fashioned way by post for your file.
I would give them a ring to make other arrangements.

domgrima

Now have Experian credit report. Pretty similar to Equifax one. Credit reports show no unexpected debts, except a BOS loan which was apparently settled in 1 Month. (Maybe due to change in company administering my deferred student Loan ??)
Question is could the rejection for the loanbe due to a financial link between the OH + myself or just because I applied shortly after opening the NatWest acct.? Our joint current account does not show in either report. lf we are not "officially"financially linked could I in good faith apply for a cc and declare no linkage? Or should I close the joint account 1st? I would like to apply for O% BT card and/or Egg Money acct., but, as Boss points out the Abbey card is via MBNA, so having the history with the Abbey account may be no use to me

Also realised A&L have a great current acct. with 1 years Interest free o/d but would changing banks again so fast harm my credit rating?