bad credit rating but no reason why..

nogoodwithmoney11111

Hi,

I think you have mentioned 2 aspects of your credit history which I would definitely clear up if i were you:

1) You had £700 on a credit card 4 years ago and you only make the minimum payments and 4 years (!) later the balance is still £460......You really need to clear this off - only making minimum payments has a major impact on your "credit profile" - particularly if you look on paper that you cant afford to repay £700 yet you are asking for a contract (iphone 4?) at probably £35 per month for 2 years? (ALSO - how much interest have you paid on this??? you could have bought an iphone straight up with the interest i bet!!!)

2) Overdraft - if you look on paper like you are struggling to repay £700 and you are in overdraft then this is probably why the "consumer debt" purchase (ie gym, phone etc..) is not going through on affordability grounds.

if I were you I would leave it 3 months before reapplying for an iphone, and in that time get rid of the credit card and o/draft if possible.

peterpieper123

thank you very much for your reply! extremely helpful.

im def gonna get rid of the debt on the credit card asap! regarding the overdraft from the bank. this is an arranged overdraft that abbey national gave me to use. i use it just for general things... like -£30 or -£100 for a week or so then straghten it up when my wages go in etc. would this be bad for my rating eventhough its an arranged OD?

thanks again

Curt.

Peter, i'll explain the Apple crap the guy selling you the contract fed you...(its more of a battle within the states with folks who use Microsoft too being lured in).

Simple enough, it boils down to "it looks better and more polite to a potential customer". Rather than say "you failed the credit search but we can try squeeze it out for you with a further check" it looks better to say "Hmmm, one second we need to protect you against potential fruad or ID theft, let us run another check as your new contract may be another thing that someone is scamming yo to a victim of" or something along those lines.

They even insist all companies (02 mainly) be as discreet and diplomatic with customers who may be getting contracts on phones or net coverage if it is in regards to Apple products as they generally market towards far higher end clientelle than Gates and co do. This has been widely leaked everywhere by people who don't like Apple's snobbish policies but they say they sell much better products and even though cell phone companies dont like it, Apple bring in so many high value customers they are usually told to play along and never shame someone if they can avoid it.

Dont worry, you are not a vicim of fraud.

peterpieper123

so what you saying? they didnt want me to have the phone cos i failed the credit check or cos he didnt like the shirt i was wearing (not their type of client)?

i just cant see how ive got a carp credit rating. or atleast not good enough to get a phone contract!

Curt.

peterpieper123 wrote: »

so what you saying? they didnt want me to have the phone cos i failed the credit check or cos he didnt like the shirt i was wearing (not their type of client)?

Err no, they just dont like saying to potential customers their credit is bad, as they do have so many high value (rich) customers. So they tell the salesmen (both themselves and third party) to use more discreet methods such as the one like with you. Seems much better to say "sorry we think you may have been the victim of..." than "we need to see if we can run further checks as you don't seem credit worthy".

HouseHuntr

peterpieper123 wrote: »

bad credit rating but no reason why.. !

Well there's a contradiction in so few words!

PNPSUKNET

HouseHuntr wrote: »

Well there's a contradiction in so few words!

hey whats up not feeling well, first time you havent called someone a troll lol