Credit card to build up credit rating

mrmichaelf

I have a poor credit rating according to my score through credit expert.

I have no outstanding debts as it seems everything is cleared as compared to my last credit report in October, the things that were showing on there then or now not.

I have applied for a few cards but have been declined.

Question is how can I build up my score if I can't get accpeted for anything?

Ideally I would like to get a mortgage but it is not possible until my credit rating has increased.

paulmcerlean

do you have any old defaults or anything adverse at all on your file?

mrmichaelf

There were some when I last viewed it in October last year. These have all vanished now. A little confused!

dylanuk

Which cards have you applied for?

You'll probably only get accepted for sub-prime credit cards like Vanquis Visa or Capital One Classic.

If you've applied for those and have been declined for them, you can use CashPlus prepaid card (http://www.mycashplus.co.uk/default.aspx) which is guaranteed and offers a CreditBuilder facility - that effectively loans you 12 monthly account fees, which you pay back over a year - these payments are recorded on your credit file as good payments.

They seem to of hidden the costs behind a customer log-in page, but it used to be about £5 a month.

There is some more info on the creditbuilder here: http://www.credit-card-comparison-online.co.uk/.../guaranteed-credit-cards.html

paulmcerlean

Wouldnt bother with that pile o' !!!!! - there are cards out there you should be accepted for if the defaults are gone.

Have you tried Vanquis? Capital One? Aqua?

Or better still, your bank? You may find it easier to get a card from your bank if your account conduct has been good.