building credit

ontheup_3

if i apply for credit and get turned down , does this hurt my credit or do i need to carry on to find a company that says yes ?

BONJOEY

if its saying you dont have enough searches, this means you havent really applied for credit, why not try for another cc only if you want another! , when filling out an application you put carer/ househusband, and take your report into the bank, and ask them agaion, why they cant upgrade, appeal!!
there is nothing on your file and you feel you are been turned down because you are a carer, and state that this is your job,

your credit report looks good, it might be the fact you have not got many open credit accounts on your file, so maybe trying for another will help, if your turned down this will just be added as a search, so at least there will be another search on your file,

you say you had to pay 200 deposit for your capital one card, i would therefore try for similar cards, to build a credit rating, such as barclaycard,
or aqua, both with high interest but both build credit rating,

is there nothing else on your credit files?
xx

ontheup_3

no there is nothing else , expecpt the area i live in isnt like hyde park lol , that does show a low score , but there is nothing else on there.

i looked for other cards that you need to give a deposit on but i cant find any and ive been to scared to try the others lol maybe after going to the bank ill try the barcleys one and the vanquis , as i pay them off everymonth anyway so the rates dont effect me at all

of to the bank in 20 mins so ill let ya know what happens

BONJOEY

ok thanks , hope all goes well x;)

ontheup_3

i have just got home from town and i went to see the bank , they said all we can do is apply and then see what happens and if it fails he will contact them and see why and try to sort it out ....... guess what ....... it went straight through , no referral or anything ,

so they have offered me the full package ,

how long do you think i should wait before i apply for a barclay or vanquis card ? or should i be bold and try for a card with better rates instead of a credit building rip off card ?

Thanks all for your help so far , im really pleased , it shows im on the up

bargains83

ontheup wrote:

i have just got home from town and i went to see the bank , they said all we can do is apply and then see what happens and if it fails he will contact them and see why and try to sort it out ....... guess what ....... it went straight through , no referral or anything ,

so they have offered me the full package ,

how long do you think i should wait before i apply for a barclay or vanquis card ? or should i be bold and try for a card with better rates instead of a credit building rip off card ?

Thanks all for your help so far , im really pleased , it shows im on the up

You might as well try for a better rate card now. Forget the credit builder cards. If you've now got a full bank account there is absolutely no reason why you shouldn't get a credit card with 15.9% (the typical) APR or less. I would also consider ditching capital one and getting your £200 back (I believe you only pay that as a deposit) or phone them and tell them you want a better deal or your going to use a different card co.

Just don't keep applying for too many things too soon as that can damage your credit score.

ontheup_3

Yes the 200 was just a deposit but they have increased the credit limit so i do actually have credit with them and not just using my 200

how long would you suggest before i try for a card ? and try to contact capital one ?

bargains83

ontheup wrote:

Yes the 200 was just a deposit but they have increased the credit limit so i do actually have credit with them and not just using my 200

how long would you suggest before i try for a card ? and try to contact capital one ?

You could try now, there really wouldn't be any harm. You could Try Egg, Lloyds TSB, MBNA, Barclaycard or even your bank. Obviously don't do all of them just try the one and see what happens. You don't want to be applying too vigourously for credit cards in a short space of time as that can do more harm to your credit file than good.

If you are accepted for one of the cards then I would phone capital one and tell them you want your £200 back and to cancel the credit agreement with them. They may offer to reduce your interest rate, give you a bigger limit and give you your £200 back if you threaten to cancel.

A credit card you've had to pay a deposit on and which charges nearly 30% interest is an exceptionally bad deal and you deserve better!!!.

ontheup_3

i know capital one is 30% but i always pay it off in full every month so the rates are immaterial to me i just really want to get a credit record that is in good condition and get credit if and when needed , but i will ring them

is there a company that seems more leaniant that the others or is it just complete pot luck who says yes or no ?

BONJOEY

hi ontheup, well done!!!!!!!:T :T :T
glad you got a full bank account now, i to see why you shouldnt beable to try for a better card, i would say virgin, or barclaycard, but as bargain said , not to many all at once,

im so pleased for you:D

why not phone capitalone and see if you can have a better account, i know from experience though, they can only upgrade your account every 13 weeks, so aslong as you didnt get the credit increase within the last 3 months, go for it!!
whats the harm askin!!

well done again:T