'Bad Credit' Credit Cards Article Discussion

jimmyjam1983

The cash builder card is NOT a pile of crap and im talking from experience, Yes it does cost you £5 a month but is reported to the major credit file companys, It helped me sort my file and helped me get credit FACT, after i had ran the cash builder for a year, i had defaults left right and centre, I got excepted for an aqua card, Then catalogues, Then capital one, Now 2 years later i have a mortgage with santander and an american express gold card, flybe card and santander 123 card.

Give it a go!

newuser78

thanks guys for your replies.

pathak

I am completely new to UK, so i have no previous credit history here. it has been almost a year now and i wanted to apply for a credit card , so i checked by credit report from checkmyfile and it seems that my credit score seems to be poor don't know why , its worth mentioning here that my credit report was not showing that i am on electoral roll but it has been corrected now on my report, after correction when i retrieved my report from Equifax still my score is poor reason is i don't have a settled account and the age of my account is around 1 year , now i don't know how i can improve my rating if no one will offer me credit, any help in this regard is highly appreciated.

Nicwilson

Hi, just needing some advice really....in the past I've had credit cards, store cards, loans etc and got into bad debt with them then went through a debt management plan to pay them off and managed to get them all paid off last October however every time I check my credit report it's still showing low! I've signed up to the free month one with experian and I've also done the Noodle one but every month it's still not going up. I have no debt I'm on the electoral roll...I don't know what I'm doing wrong?? A friend told me to apply for a high interest credit card and spend a little on it each month and pay off in full but I'm worried if I apply for one it'll get rejected and I'm back to square one?? I'm trying to get a mortgage and have the deposit sat there just can't get the credit for one......any advice would be greatly appreciated??

Thanks ��

tain

I'm getting myself the pre-paid credit card that works out as a £60 loan thingy.

I was just wondering - it's only the monthly fee that benefits my credit history isn't it? Nothing to do with how much I spend on there.

tain

And considering I have a 'right to settle' aforementioned credit card - do I need to be waiting the 12 months it takes??

kobracai

How long does it roughly take for the credit card to put a positive boost on your credit score ?

davekm

Hi. I've just got a capital one spending card. Does anyone know if it's possible to transfer money onto a virtual credit card, or paypal, then transfer the money into your bank account? This is useful for things like covering direct debits.

This article and the 0% spending card articles don't mention about using spending cards to transfer money to your bank account. Unless I'm just not reading them properly.


Thanks

john1002

Not normally with capital one as most companies don't recognise prepaid cards and paypal is not a credit card so you won't be able to do that, hence why the route you suggest is not mentioned in the guides, you would need to choose a card that allows money transfers so MBNA for example.

Best way would be spend on your card that you would normally spend on your debit card to allow you more money in the bank for direct de bits.

John

Dandytf

I've activated my Cashbuilder credit card today.

Going to use it for petrol and or groceries and pay it in full every month, starting this month 28th.

I'll run it for a few months and check if there is any improvement in my rating maybe 1 year later, Though 3 yrs with dmp i'm using this to build rating after dmp finishes.

Already have Cap 1 card increase this year so very small improvements can be achieved during dmp.