Credit Card/Credit Rating advice required

Tixy

buctownbully wrote: »

thanks King.

I am a member at Credit Expert and pay the £7.99 monthly direct debit. I haven't got a Credit Score since I initially requested it. I have not run a check on my Equifax score but will do that just to check it is ok.

Bottom line is that I am going to have to wait until the default rolls off I guess. Which is pretty depressing - and that will be from when I paid it off rather than the default date too? no its from the original default date (which is a little bit better at least:))

I also understood that getting my Credit Report on credit expert didn't count as a credit search on your file?

Thats right your own searches cannot be seen by lenders, only by yourself so don't count as a credit search in the normal sense.

twist-and-shout

I am all for checking your credit report but the score means nothing in terms of applying for cards and in my opinion is a waste of money.

I work for a bank and we ofen got people saying 'why was i refused, experian said my score is xxx'
The score that experian or whoever give you is pointless as banks have there own scoring system and this will include income which the credit refrence agencies do not also lending is alot tighter now and banks are lending less

buctownbully

Tixy wrote: »

Thats right your own searches cannot be seen by lenders, only by yourself so don't count as a credit search in the normal sense.

Ok that is a little bit of good news I guess.

Do you know if it is worth trying to get the default removed through the never receiving the correct paperwork approach I found on a website (with template letters, etc)?

Tixy

Could be, do you think you didn't get the correct default notice? Which website are you looking at (if its a paid one you can get all the info on here for free).

buctownbully

Ok, strategy going forward:

Should I just keep using Vanquis Card as I am at present?

Is it even worth applying for any other cards or not?

I guess I should also take the perspective that I should have a big old deposit in four years time and my salary should have improved significantly too (presently on £50K plus bonus). I'm only 28 so I guess I shouldn't get too down in the dumps about this all and should try and view it as an opportunity.

buctownbully

Tixy wrote: »

Could be, do you think you didn't get the correct default notice? Which website are you looking at (if its a paid one you can get all the info on here for free).

do you have a link to the default removal section here? I am pretty sure it was correctly issued but I don't have the paperwork so I would think it is at least worth pursuing?

BugsyBrowne

buctownbully wrote: »

Ok, strategy going forward:

Should I just keep using Vanquis Card as I am at present?

Is it even worth applying for any other cards or not?

I guess I should also take the perspective that I should have a big old deposit in four years time and my salary should have improved significantly too (presently on £50K plus bonus). I'm only 28 so I guess I shouldn't get too down in the dumps about this all and should try and view it as an opportunity.

As you say won't matter if you earn 50k or 200k as long as that default stay on your account no big lender is going to take you seriously until in your case 2014,unless you get that default removed..

oye2a2000

for credit rating you have to manage your credit card properly to improve there are special credit cards for improving.
this article on hubs is quite useful
hubpages.com/hub/Why-you-should-have-a-credit-card

buctownbully

star-fire wrote: »

As you say won't matter if you earn 50k or 200k as long as that default stay on your account no big lender is going to take you seriously until in your case 2014,unless you get that default removed..

I only mentioned salary in response to twist and shout's post that referenced banks looking at income as well as credit score.

buctownbully

Just got my equifax report and there is another default from Barclaycard dated 2007...I didn't have a Barclaycard!!! I had one at University but got rid of it in 2001. What the hell is going on??