A little Taste of Credit & Credit Expert!

Adammmm

Hi guys,

I'm new to the forum and so far have found out so much!

I'm 18, 19 on the 29th of this month!

I previously applied for lots of credit and got rejected...

I can now see on my credit rating account that i have 4 accounts all satisfactory.

HSBC plus account, Barclays Additions account, Orange & Shop direct account.

All accounts are satisfactory but i've had 49 searches in the last year (LOL) :eek:

I have had 11 missed payments in the last year but this is mainly due to my orange account, they gave me a default, i wrote a kind letter and they've recently taken it off, so thats brilliant!

Within the 49 searches, around 10 of these are experian! Does that matter?

How long should i wait before i apply for a credit card? I don't want one to use as such, just for mega emergencies!

Thanks guys!

Adam

Joeler

You should also look @ your equifax report to get the other half of the story. Call credit too if you want to really go for it.

Most of the searches listed on credit expert aren't proper searches (unrecorded enquiries). The ones you need to worry about are the ones for actual credit (Credit Card/Loan etc etc).

See how many of these you have had in the past 6 months. If you can wait 6months down the line until you have no further actual credit searches, you will receive the highest score for thispart of the scoring (from experian) - unsure about the others.

If you're worried about potential exceptance why not tray capital one or another subprime issuer when you do apply.

Good luck

lisyloo

49 sounds like loads but check how many of them are "credit" searches as opposed to identity checks.
It still sounds high, so I would hold off applying for a while if you can.
If it's only for emergencies then I would wait at least six months.

It might be worth checking Experian as well.
I always advise getting the £2 statutory report because the free trials can be difficult to cancel sometimes.

Adammmm

Hmm thanks guys i really appreciate this!

Credit expert have taken off my default from orange but equifax havn't?

Credit expert only took it off today, perhaps equifax need more time or should i write to these guys?

I think i'll wait a few months before going for some plastic haha!

Joeler

Yeah write to them buddy, that's the best bet

Adammmm

Cheers!