Credit Card before Mortgage App?

Lisi_2

Hi, im hoping someone will be able to point me in the right direction!

Ive recently had a debt account closed for a mobile phone taken out in my name.
I was told to check my credit file, which now says the account with said phone company is 'satisfactory'

This has left my credit rating today as Fair.

Im hoping to take out a mortgage with my fiance (who has a good credit score), however im worried we wont be accepted due to my recent problems.

Would it be a good idea to take a credit card, in order to try and improve my credit rating, or would doing this make it less likely for us to be accepted for a mortgage?

Lisi

Fire_Fox

Have you checked all three credit reference agencies? Are you listed on the voting roll at your current address? Why is your credit rating only fair and not good or excellent?

Lisi_2

Hi,

No, i have only checked experian. I have a default on my credit file from a few years ago when i didnt keep up payments for a tv. This has been settled for a while though... I was assuming this would be why my score was only 'fair'?

I am on the voting roll.

Im really nervous about applying for anything incase it marks my file, but at the same time i want to get a mortgage or at least improve my chances.

Fire_Fox

I would check all three credit reference agencies, since you appear to have suffered identity theft. Why is the phone account still on your credit report if you did not take the contract out? A full default will fall off your credit file after six years, a late payment will only fall off six years after the account was settled. Are you listed as being on the voting roll on your credit file? I was registered to vote but somehow this never got passed onto the credit reference agencies. Good behaviour on any credit arrangement (loan/ mortgage/ overdraft/ credit card/ phone contract) will improve your credit rating, but too much available credit will reduce your desirability to a lender.