need help but bad credit!

GoodJobNoCredit

I have bad credit from when I was a student and early days working. I cant get any form of cad now despite earning over 30k a year and not having any debts with the banks.

The banks see me as having potential but the old days count against me.

I cant get credit because of my record but I cant improve it without getting the credit to repay!

Any ideas?!

as400

Your bad credit is being seen because the credit reference agencies hold your records for 6 years and the address you are giving them banks/financial institutions is either the address where you messed up or an address that is linked to that bad address.

This is generally how they follow your progress through life...via the address that you give...in the USa it is through your National Insurance number but we havn't got to that stage quite yet here.

A friend of mine was working abroard for 6 years and came back to the UK, moved into new accomodation, had no previous credit history in the UK, had a good job. Opened a basic bank account with one of the Big Four banks and after paying in for 5 months got a full Visa card/overdraught facility and later got credit no problem.

He made sure he was listed on the electoral roll and was on Osis (in the phone book...as this helps with your credit scoring).

Maybe you need to make a clean/fresh break.

Warriorsith

If your on 30k per year, then do you need credit cards etc?? I'd do without and build your financies ie Saving. If you really want a CC then check out your Credit File and see what the root cause is and see how long it has before it goes away as mentioned in the last post. If you still want a CC try Capital One, they'll give a basic card with a £200 to start with, use it to buy some items once a month ie shopping for a £10, then repay that when they ask for it over time your credit score should get better.