Vanquis and Classic

JTGuns

Hi, This is my first post here so please be gentle

im 22 and am in full time employment and get a decent wage, however am struggling to get credit and unfortunately fell down the slippery slide of applying and getting declined and then applying somewhere else....

That forgotten i have read some advice on this forum and have applied and been succesful for the Capital one classic and the Vanquis card obviously i have set these to be paid in full each month. is having 2 cards better than 1?

i just need some advice on rebuilding my credit really? how long should i wait for applying for a mainstream card.

Many Thanks in advance.

James

digitalphase

Use them each month for something small, then repay in full by direct debit. After about 6mths try for a mainstream. If still unsuccessful, carry on using Cap1 and Vanquis for another 6mths then try again

JTGuns

Thanks for that,

I have some large debts at the moment, and a couple of late payments and a settled default, and a shed load of searches will this help repair my credit rating for that, i have read that it only allows a credit history to be developed not repaired?

selecta_c

I am currently juggling 4 cards but will have closed two of them within the next 6 months.As long as you use your 2 cards wisely it will be good for your credit rating.

JTGuns

I really hope it works, its kindof my last resort id like to sort my credit rating out before i get a mortgage and a mainstream credit card... :S

digitalphase

It's not going to remove or change the adverse, but will help rebuild a credit rating for you Once the adverse has gone you will have a lovely record full of green 0's :j

Some lenders don't look back the whole 6 years either, so you may be able to get mainstream credit within a few years.

never-in-doubt

JTGuns wrote: »

i just need some advice on rebuilding my credit really? how long should i wait for applying for a mainstream card.

Hiya, best to apply for your first mainstream card with your actual bank as they will have internal history on you. Therefore, use the Crappy1 and Vanquis for a couple of months (maybe 6) and then apply to your own bank mate - they may decline but if they do, you stand a better chance of appealing if you can prove you run your bank account etc perfectly well.

Good Luck. :beer:

PNPSUKNET

the only thing against are the large debts and default, once these are clear you will be fine. I use capital one and clear it in full every month

property.advert

never-in-doubt wrote: »

Hiya, best to apply for your first mainstream card with your actual bank as they will have internal history on you. Therefore, use the Crappy1 and Vanquis for a couple of months (maybe 6) and then apply to your own bank mate - they may decline but if they do, you stand a better chance of appealing if you can prove you run your bank account etc perfectly well.

Good Luck. :beer:

Yeah, even years ago after joining HSBC with no previous history, they refused me for one of their own credit cards. About 6 months later, I applied and was given a Mastercard and Visa credit cards.

One point I did note thought at that time and perhaps not now, was that none of the older banks ever gave posted their own credit card details on the agencies. I assume to cut costs and because they had all the pertinent information in house but I did think it strange. I would suspect that they do now though.

A very recent thing I noticed was that Nationwide externally credit score for a current account on someone who they have known as a customer for over 20 years. I didn't expect that.