Pre-2001 Nationwide accounts don't show on credit report

londonjams

[FONT=Lucida Grande, Verdana, Helvetica, Arial]Hi everyone,

I’ve encountered a bit of a credit crisis concerning my Nationwide Flexaccount. I run my life out of this account and have been managing a £5,000 overdraft on it for years. However, it has never shown up on my credit report because I opened the account before 2001. So I was shocked to see I’ve got the sort of credit rating that would make Nick Leeson blush. Simple, you might think - open another account, but I’m the victim of this cycle:

(1) I can’t get credit because my report is too bad.
(2) My report is dire because my main account doesn’t appear.
(3) But I can’t get a new account because of (1).

Presumably everyone who opened a Flexaccount pre-2001 is taking a hammering in their credit report? I told Nationwide this but all they will offer to do is set me up a new account and transfer everything across. Of course, I can’t get one because of my poor credit rating!

Has anyone encountered this problem and beat it?
Cheers![/FONT]

Lokolo

Having a £5k overdraft doesn't improve your credit rating. Neither does have a current account.

You're report isn't dire because of this account.

To get a good report, you need to be given credit in the way of bills (phone etc.) or credit cards

londonjams

Oh, fair enough. I thought all the payments I make out of that account and good management of the overdraft facility would count for something.

My mobile phone bills don't appear either actually.

Thanks for the advice.