Credit Rating

Jessica23_2

Hi Guys, I have a few questions re credit rating....First off what exactly is reported to the credit agencies in terms of payments made? is it your gas, elec, water, phone and other household stuff? I know obviously any credit is reported but im in the process of trying to sort out my rating after being discharged, but currently dont have any bills in my name. Any ideas?
Thanks in advance
Jessica

philnicandamy

bit of a read here

http://www.moneysavingexpert.com/loans/credit-rating-credit-score

needalittlehelp

Hi Jessic,

Currently I have mobile phone bill, british gas (electricity & gas) and catalogue accounts which all show on credit report

Regards,

N

Jessica23_2

Thanks guys, will take a look at that post, also needalittlehelp can I ask how long after BR did you manage to get a catalogue account? im getting anything and everything that can improve my credit rating!

philnicandamy

Jessica23 wrote: »

Thanks guys, will take a look at that post, also needalittlehelp can I ask how long after BR did you manage to get a catalogue account? im getting anything and everything that can improve my credit rating!

have you looked at the credit file clean up sticky at the top of the forum?

http://forums.moneysavingexpert.com/showthread.html?t=677875

dont be too hasty with credit though.....while bankruptcy sits on your files for 6yrs it'll be mainly damage limitation (although credit scores are very hit & miss at the best of times) and some lenders may be very twitchy seein you apply for stuff quickly after discharge

Jessica23_2

hi Philnicandamy, I have read the sticky on clean up the credit file, mine is a bit of a wierd case. I was discharged a few months ago and got my credit file straight away, im now a few months down the line and my BR is only showing on 2 out of the 3 credit agencies, and none of my previous debt shows on any of the 3. Ive asked on here and this has happened to a few others, so using the forum about which agencies are used by which lenders I want to use my 735 score to hopefully get a credit card and help rebuild the other 2 which are around 435 ish. Like you said the BR stays on my file for 6 years, but I want to do what I can in the mean time! thanks for your advice, any more is very much welcomed!

philnicandamy

try a vanquish or capital one credit card....they have horrific apr's so make sure you pay the balance IN FULL every month that'll report back to the cra's

try one of the 30day rolling mobile contracts as well..they will report to cra's as well.....dont rely on the credit scores though they're pretty much useless infact i'm sure they just pluck the figures out of fresh air

nervousmother

The co-op cashminder account shows up on your credit file, also try the credit builder on www.cashplus.co.uk my mobile phone also shows up.

Jessica23_2

Thanks guys, ive got the cashplus one so that should start having an effect soon, and ive applied for cap one and got refused, left it 2 months then applied for vanquis and am still waiting to hear back. I agree with the pulling the figures out of thin air! but sadly thats what the mortgage companies look at, and if I can have any hope of getting a mortgage in future then I need to sort my file out. Thanks again for the advice

philnicandamy

sadly though in the current climate its difficult to obtain a mortgage with a perfect file so it'll be a while till you can & even then you'll still need a fairly hefty deposit

Jessica23_2

Yeah your right, its a nightmare regardless of BR! but I suppose I would also like to take advantage of things like good offers on credit cards i.e the stoozing thing, I think its just that when your credit rating is good you have more of a choice, even things like just having a normal debit card (ive now managed to open a co-op account). the main thing is working towards the mortgage though, and just doing everything I can now instead of wishing in a years time that id started now.