Help! Advice needed on establishing a credit rating after being given bad info!

never-in-doubt

digitalphase wrote: »

I'm surprised CAP1 declined you.

Why not try Vanquis or Aqua? They are sub-prime and will probably give you a small limit to start, but at their APR you don't want a high one anyway. Hopefully after 6mths or so you can then get a mainstream card.

Cap1 are declining lots lately..... something to do with risk and liability if I recall :rotfl::rotfl:

OP - have a read here: http://forums.moneysavingexpert.com/showthread.html?t=1626277

Kamen

I think I'll leave it six months, let these recent searches drop off and try again. In the meantime, I'll check Equifax - Experian all seemed OK, no errors at least.

What is a JD Williams account? Another thing I've not heard of....

Thanks for the pointers guys!

Kamen

OK, I'm VERY confused and worried now - checked my report on Equifax as well as Experian, there are no errors or ID theft on either and, as I've mentioned a few times on this thread, I've never missed payments or anything similar since I've never had any credit to default on in the first place!

I know I've gotten myself into a bit of a rejection spiral - applied for 5 cards within the last six months - but other than that, I can't see ANY reason I should be getting consistently declined! Please, someone, help - what can I do?

CannyJock

Kamen wrote: »

OK, I'm VERY confused and worried now - checked my report on Equifax as well as Experian, there are no errors or ID theft on either and, as I've mentioned a few times on this thread, I've never missed payments or anything similar since I've never had any credit to default on in the first place!

I know I've gotten myself into a bit of a rejection spiral - applied for 5 cards within the last six months - but other than that, I can't see ANY reason I should be getting consistently declined! Please, someone, help - what can I do?

Step away from the card application form, ma'am, ... nice and slowly ... that's it ... keep your hands where we can see them.

Nothing to get worried over. Reasons are the ones you already know highlighted in green above.

Do what's already been suggested Sit tight for a few months, then start with another overdraft or a catalogue or a sub-prime card. Something to add a bit more data to your credit report. Run those for 6 months, then apply to your own bank for a card - if you're rejected by your own bank at the end of that, appeal the decision and threaten to move your business elsewhere.

abinanthanb

Kamen wrote: »

OK, I'm VERY confused and worried now - checked my report on Equifax as well as Experian, there are no errors or ID theft on either and, as I've mentioned a few times on this thread, I've never missed payments or anything similar since I've never had any credit to default on in the first place!

I know I've gotten myself into a bit of a rejection spiral - applied for 5 cards within the last six months - but other than that, I can't see ANY reason I should be getting consistently declined! Please, someone, help - what can I do?

As suggested by CJ, simply stop applying for credit for another six months.

Meanwhile speak to your bank if they can provide overdraft without doing any credit check.
After six months apply for Vanquis, the probability of getting accepted is more than any other Credit card company. Start using the card and setup direct debit for full balance payment.
Wait for another 3 months. Then apply for another Credit card suitable for a low credit rated profile but not a sub-prime card. Barclaybreathe is one type. By now your credit profile should have improved.

Never pay for a Credit score with any of the CRAs, its all scam.

Kamen

Thanks again guys. I'm planning on doing what you've suggested as it is. I already have an overdraft though, which is rarely used and instantly repaid if it is. It really seems the only thing I can possibly do to improve my rating is to not apply for anything for a while.

What a ridiculous palaver getting onto the credit ladder is!