Chances of being accepted for Credit Card???

nat82

I had a poor credit history about 5 years ago and have worked hard to rebuild it. I paid of my student overdraft and vias and both accounts are closed. The only credit account I have is with a high street/online shop which 99% of the time I pay off in full (that's even if I've used it). I have a joint bank account and we have an agreed overdraft.

We live in a private let house and are hoping to buy our own place in the next 2-3 years. I assumed that I would be a risk for lenders and planned to get a high interest Credit Card to start rebuilding my credit score. I'd planned to spend a little and pay it off each month in full.

I have just obtained my credit report from Experian and opted to get my credit score as well which has come back as 908.

How likely do you think it would be that I'd get accepted for a Credit Card with a good interest rate? I have an alright paid, permanent job in the public sector which is safe in current times. I want to avoid applying for one if I am unlikely to be accepted as I am aware that all searches appear on your credit file and can look bad.

Thanks for your advice!

CLAPTON

what does your credit record show?

try your bank first

a couple of searches on your credit file does no harm.. too many is a different story but even then they drop off after a year.

nat82

My report shows

Number of credit accounts (including those settled)..................................................2



Amount of available credit (excluding mortgages)...........................................£1,977



% of your total credit being used (excluding mortgages)........................................1%


Amount of outstanding debt (excluding mortgages and defaults)........................£23





Number of accounts overdue...................................................................................0




Number of missed or late repayments in the last year...............................................0



Is this what you mean? My credit limit with the shop has increased quite a bit recently to £3600.

CLAPTON

no mention of your previous credit problems?

nat82

Not a thing.


Number of times your credit report has been searched in the past 3 months................1



Number of times your credit report has been searched in the past year......................0





Number of public information records on your report ................................................0



Number of Notices of Correction on your credit report...............................................0




Number of aliases (other names) and/or financial associations recorded.....................0





Length of time you have lived at your current address..................0 years 11 months





Are you registered on the electoral roll at your current address..............................Yes

thriftymomma

In your actual accounts section, is there any mention of defaualts and how many late payment markers do you have at 1-2 and 3+?

CLAPTON

subject to income then as I've said, try your own bank first as they will know how you handle your account but if that's unscucessful try vanquis, cap1, barclays initial ... horrid interest rates but as long as you pay in full then you won't be paying interest anyway.( set up a DD for the full amount).

nat82

thriftymomma wrote: »

In your actual accounts section, is there any mention of defaualts and how many late payment markers do you have at 1-2 and 3+?

0 for both bank account and shop account. It says

"In the last 25 months of account activity, the number of status 1-2 is 0 and the number of status 3+ is 0"

for both accounts.

thriftymomma

nat82 wrote: »

0 for both bank account and shop account. It says

"In the last 25 months of account activity, the number of status 1-2 is 0 and the number of status 3+ is 0"

for both accounts.

Sounds pretty sparkly, though you don't have many accounts so could be seen as limited credit as opposed to adverse. Defo try your own bank and failing them, cap 1, flybe, aqua, vanquis etc are your friend. Good luck and let us know how you get on.

nat82

If I get one of the higher rate cards initially is it likely that maybe after a year of spending a little and paying off in full each month I can apply for a better int rate card?

thriftymomma

Yes it is, perfectly feasible. You''ll soon rack up those lovely little green o's!