CC from my bank (bad credit)

Phil_Marlowe

Hi there,
First of all, I apologize for my rubbish English - I am from EU, living and working in the UK for almost 2 years now.
I opened a current account with HSBC (my boss did help me with this as he's got all of his accounts with them and we went into his local branch) in October 2005. I put myself on the electoral roll in October 2005 as well. From December 2005 i've got an mobile phone contract with Orange.
I don't need a credit card for taking credit, actually. But I would like to have credit card to help me estabilish good credit history.
The problem is that I applied for about 20 credit cards and loans in December 2005 and January 2006 as I didn't know almost anything about CRAs and credit files. I was declined, obviously, as I had no credit history. I applied for a CC from my own bank (HSBC) in January 2006, but was declined (probably beacuse of the previous searches).
The HSBC offered me a Maestro debit card after 3 months instead of Solo which I had before.
My question is: is worth to apply for CC from my own bank (HSBC) e.g. in May - after 6 months of opening the account even with lot of credit searches made in December and January? Or do I have to wait 12 months for the credit searches to be cleared from my credit file and then apply in HSBC?
I've set direct debit and standing order on this account and I try not to withdraw to much cash and use the debit card instead.
Sorry for my English again and Thank you all for your advise

Dazza.mk_2

Hi,

There are a number of cards such as the Capital One Classic card with extremely high APR's for people with Bad or limited credit history.
Best thing may be to apply for one of these and spend limited amounts (and ALWAYS pay off in full on time) for about 6 months and then you may be more likely to get a slightly better card.

Phil_Marlowe

Dazza.mk wrote:

Hi,

There are a number of cards such as the Capital One Classic card with extremely high APR's for people with Bad or limited credit history.
Best thing may be to apply for one of these and spend limited amounts (and ALWAYS pay off in full on time) for about 6 months and then you may be more likely to get a slightly better card.

Thanks Dazza but I think that because of lot of previous searches on my credit file made in December and January (this year) I have no chance to be accepted by other companies in near future. I am hoping to get CC from my bank (HSBC) - maybe they'll offer me a CC based on my internal rating with them rather then based on my credit file

as400

Get copies of your credit report from the THREE credit reference agencies.

Ensure you are on the electoral role on all three, make sure you have no CIFAS registered against you after your fun in Decemeber/January...some companies will CIFAS you for very little reason thus totally f*****g up your chances of getting credit.

Make sure your on the phone and in the book (ie not X-directory).

Talk to your bank about wanting a CC, they can influence the decision if they approve it.

If you have no/few searches for the last 6 months it will help you.

if your bank recommends you wait 3 months do it and don't apply elsewhere, your in rush to get credit and your current card takes care of most payments, so don't apply else where, establish yourself with your bank before looking elsewhere.