Low Credit Score Applying For Student Account.

Fire_Fox

Ruby44 wrote: »

I am on the electoral roll. I'm about to move, but being the kind of person I am, that'll be one of the first things I do.

My last Barclaycard missed payment is 7 months ago according to my report. Which will mean 8 months ago, since it has yet to be updated for this month.

I opened my Halifax account in December 07. HBOS

But are you listed on Experian as being on the electoral roll? They don't always have the right information. When you move, ask the council for your number on the electoral roll and supply it to all the credit reference agencies yourself as this increases your score. Unfortunately moving home and recent missed payments will lower your credit score.

Ruby44 wrote: »

My total used credit on experian is 77% (out of date by a month. Much of this is cleared).

But do you have a lot of available credit from the cards, i.e fairly high limits? If so you should cancel at least one card and/ or ask the bank to reduce your limit. Banks are very twitchy about lending money (overdraft) to people who have a low income (student) and are already in debt.

Do you have a mobile phone on contract? If not consider getting a cheap one. This will help you demonstrate good conduct with credit, without having a large amount of money available to you as with a card.

Ruby44

I have a contract, yes. I have had one with O2 which is settled and with no missed payments, my current one has been set up for a little less than a year and is also without missed payments.

Yes, experian says I am on the electoral roll.

I don't have much available credit, no. I am planning on cancelling my Barclaycard as it is hard to manage and keeping my MBNA for small purchases.

wrangler360

Ruby44 wrote: »

HBOS use Experian, which is why this is relevant.

HBOS use Experian, Equifax and Call Credit - as well as their own internal scoring system. However you can appeal it with documents as evidence of salary etc - However there is a much higher decline rate at the moment as they have upped the requirments to open accounts. They are also all about keeping existing customers and building relationships to get the most from customers - so if you dont have any accounts then start with savings and a basic account then reapply in 3 months once you have a relationship with them

Ruby44

As I have already said, I have a current account with Halifax. It's an Ultimate Reward account which has been open since 2007. If they use all three of the above, why does their website state Experian only and why did the woman I saw tell me I needed to use Experian? I'm not disputing what you are saying, but I'm interested to know why. Is it worth using more than just Experian?

wrangler360

Dont know why the BA would tell you that - they should have given you the credit scoring leaflet which is procedure for declined accounts - you can download it from the website and as stated we use all 3.

But if you have defaults etc and can prove you have paid them off then you can appeal and they might change the decline. You will need to prove this though. Also it is harder to get credit at the moment - so maybe ask for just a small o/d to start with if you appeal then you can apply for increases

Ruby44

Bizarre. When I asked for more information, she quite bluntly told me that she could not help me and that I would have to look into it myself with Experian. She offered no literature. I'll look into the leaflet when I get home, thanks for letting me know about that.

I'm going to wait until September before I mess about with it more, I think. Thank you for the avice. More confused and yet less confused!