Why cant i get credit???

lukeholt1

Ive got to be honest, years ago I wasnt the best at repaying on time, But, for the past 5 or 6 years i have payed off all, but one of my debts, i have my credit report and score etc, my score is 781, i then found i wasnt on the elec role, so i have just filled the forms so should be on there soon and my score should go to about 850, out of a total of 999, i think this is pretty good?
I have mobiles on contract, payed and never missed, I have just been totally embarrased and been turned down by Vanquish, yes i know, thats bad, i just cant understand why, whats the point in trying to build your credit file and then being kicked in the stones for doing it.
HHHHHEEEEELLLLLPPPPPPP....please

SimbaSimon

lukeholt1 wrote: »

Ive got to be honest, years ago I wasnt the best at repaying on time, But, for the past 5 or 6 years i have payed off all, but one of my debts, i have my credit report and score etc, my score is 781, i then found i wasnt on the elec role, so i have just filled the forms so should be on there soon and my score should go to about 850, out of a total of 999, i think this is pretty good?
I have mobiles on contract, payed and never missed, I have just been totally embarrased and been turned down by Vanquish, yes i know, thats bad, i just cant understand why, whats the point in trying to build your credit file and then being kicked in the stones for doing it.
HHHHHEEEEELLLLLPPPPPPP....please

It boils down to the electorial role I think. Once your on that you should be more likely to get credit. I don't know of anywhere that provides credit without that because it basically confirms you live at the address. So not being on it they are likely to think you live somewhere else.

CannyJock

lukeholt1 wrote: »

my score is 781, i then found i wasnt on the elec role, so i have just filled the forms so should be on there soon and my score should go to about 850, out of a total of 999, i think this is pretty good?

It's pretty meaningless to be honest because every lender has their own criteria. If this is the score from Experian that you pay for then it missed out vital bits of information ..... like your income?

Does your credit report show any missed payments or are they all ancient history now? Have you any unused cards that you haven't closed?

Once you're on the electoral register you could consider speaking to your own bank for a card. Rather than pay for another statutory report from Experian, they're normally able to answer simple queries on reports you've recently paid for - like whether you're "now" showing as being on the electoral register.

Aaron44

From my experience with being refused by Vanquis, it's almost certainly down to not being on the Electoral role.

Ensure you're on it, and it's fairly unlikely they will refuse you.

izools

Are there any defaults or public records showing on your credit file?

Defaults are accounts marked with status of "8". If there are any, when did they default? Do they still have a balance?

The experian score is a con, all creditors have a different score sheet and all will rate you differently based on your information.

It can take a couple of months to appear on the ER, and don't reapply anywhere in the meantime as this can lower your score further, my a massive amount if too many too often (i.e. more than once a month or so)

Jeffers90

Don't forget that lending anything at the moment is hard - no matter who you are!

southernguy_2

Jeffers90 wrote: »

Don't forget that lending anything at the moment is hard - no matter who you are!

Borrowing anything at the moment............. not lending

Lending anything would be entirely up to you whether you wanted to lend it or not