Got my credit report, now what on it can make my credit so bad?

indierocker85

Hi,

I signed up for the free 30 day on CreditExpert provided by Experian.

I am unsure as to what I am meant to be looking for to be honest.

Basically, every bit of credit I have applied for has been rejected. And I am trying to see why.

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The only thingsI can think that might have affected it is a Orange phone contract, which I did run up a big bill on. But I settled it.

I have gone overdrawn a few times and had charges, which I went on to reclaim, and when doing so, received threats that it would affect my credit rating.

I also missed some payments on my career development loan, which apparently I defaulted on, but the bank haven't confirmed this and I have a repayment plan which I have managed to stick to and they suspended the interest.

I have never had any credit besides the loan and the phone contract if you can class that as credit.

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All I can see on here is

"Number of credit accounts"

My Lloyds TSB Current Account (no mention of the barclays one which I went overdrawn on) - Status - Satisfactory

Orange PCS - Settled, and - Status = Satisfactory

"Previous Searches"

* Experian Consumer Services - Identification Generic Check
* Vanquis Bank Ltd - Application Type - Credit card (this was rejected btw)
* Lloyds TSB Group - Application Type : Current Account
* Lloyds TSB Group - Application Type : Current Account
* lloyds TSB Bank PLC - Identification: Generic Check
*Lloyds Tsb Bank Plc - Identification: Generic Check
* Wagerworks : Identification Generic Check
* Wagerworks : Identification Generic Check
* Wagerworks : Identification Generic Check
* Wagerworks : Identification Generic Check


How can I improve it? And what is making it so hard for me to obtain credit?

Cheers guys

paulmcerlean

are you on the electrol roll? it is a must for getting credit these days especially with little credit history.

indierocker85

Yes, I am, I have applied for vanquis, who apparently take just about anybody and they said no. So frustrating

indierocker85

Think I may have established what is causing this

There are 9 blocks each representing a month

6 of them are green with a 0
one is yellow with a 3 inside it
one is yellow with a 2 inside it
one is yellow with a 1 inside it

Anybody know what this means?

Under the orange one it says

System

indierocker85 wrote: »

Think I may have established what is causing this

There are 9 blocks each representing a month

6 of them are green with a 0
one is yellow with a 3 inside it
one is yellow with a 2 inside it
one is yellow with a 1 inside it

Anybody know what this means?

Under the orange one it says

Hi indierocker85

Those numbers mean the number of consecutive missed payments on the account.

How recent are these? If these are recent (say within the last year or two) this could well be a reason you are being declined credit.

UNDERGROUND

Moggles_2

There are 9 blocks each representing a month, 6 of them are green with a 0, one is yellow with a 3 inside it, one is yellow with a 2 inside it, one is yellow with a 1 inside it. Anybody know what this means?

Experian encloses well-written guidance notes with the statutory £2 credit reports that are sent by post. The same info' is available on the website for online users. Have you read them?