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What went wrong?

misters_2
misters_2 Posts: 516 Forumite
First Post
Hi all of a sudden i am begining to get refused credit.
I know this does not make sense, but i applied for an insurance policy and was refused , i didn't really think a lot of it at the time, "saying there are plenty of other company's that will want my business, but then i applied for a catalogue that i do want and i was refused with them as well.

Now i want to know what went wrong, they are refusing me due to my credit.

Thanx in advance.
:cool: :cool: misters :cool: :cool:

Comments

  • lisyloo
    lisyloo Posts: 29,839 Forumite
    First Anniversary First Post Name Dropper
    Have you defaulted on any credit accounts?

    Have you moved house recently?
    If so, have you got yourself on the electoral roll?
    If no then do do ASAP.

    Are you associated with someone eles (spouse, ex-spouse) who may have got themselves into debt?

    If none of the above sounds right then I suggest you get your statutory credir report from Equifax and Experian for £2 each (there is a £3.50 offer with Equifax that would be useful if it is still valid - this gives you the report on-line instantly plus your credit rating which might be useful in pin pointing where the problem is as it rates you in each area).

    Once you have got your credit report then check it for mistakes or associations with other people.
    Check whether it says you've defaulted.

    If there are mistakes then you can get the rectified.
  • misters_2
    misters_2 Posts: 516 Forumite
    First Post
    Dont think it is any of the above, will my credit score show if it is?
    :cool: :cool: misters :cool: :cool:
  • lisyloo
    lisyloo Posts: 29,839 Forumite
    First Anniversary First Post Name Dropper
    The credit score will rate you overall and then break it down into a number of areas (about 5 in total).
    e.g. electoral role, credit accounts etc.

    If there is a "poor" rating in any one area it will identify what's wrong and what you should do.

    e.g. You are not on the electoral role. It will improve you creidt rating if you get on it.
    (That's just an exmaple I've made up - but that's the sort of thing).

    I think it will help you in identifying which area is a problem (and it's only an extra £1.50 if the offers still going and you get it immediately).

    If the offer is not available then get your statutory credit reports. You'll have to wait a few days for it to come in the post.
    You will then have to look at it to identify problems but it shouldn't be too difficult.

    Check for any defaults, CCJs etc, check whether your listed on the electoral role, check whether anyone else is listed with you etc.
  • lisyloo
    lisyloo Posts: 29,839 Forumite
    First Anniversary First Post Name Dropper
    BTW - if you are thinking of getting just one, then I would go for Experian - I think more organisations use them although I did find the Equifax credit rating helpful.

    Get both unless you are really strapped for cash.
  • misters_2
    misters_2 Posts: 516 Forumite
    First Post
    I went for Equifax, as i couldn't find a link on the other site fore a £2 credit report, so i will wait and see the results.
    Cheers for the help lisyloo.
    :cool: :cool: misters :cool: :cool:
  • isasmurf
    isasmurf Posts: 1,999 Forumite
    Combo Breaker First Post First Anniversary Name Dropper
    I went for Equifax, as i couldn't find a link on the other site fore a £2 credit report,
    Really? I'm surprised you say that, I've always been able to find Experian's credit report really easy, it takes a while to find where Equifax hide it.

    For anyone else thinking of order their credit report here are the links to the 3 UK Credit Reference Agencies.

    Experian
    Equifax
    Call Credit
  • misters_2
    misters_2 Posts: 516 Forumite
    First Post
    You were right I looked more closely and found it easy, so i ordered a credit report from them a well.
    :cool: :cool: misters :cool: :cool:
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