Refused credit so got CallCredit credit report

arewenotmen

Hi,

I'm after either a loan or credit card, but have been refused three times (Sainsburys loan, A&L loan, Virgin CC). Obviously I shouldn't have kept trying now I've read all about it, but there we go.

I paid £2 for my CallCredit application and it all looks OK except a number of things stand out:

• Only one of the searches I made today is listed.
• My Moneysupermarket insurance searches are listed. There are eight of them and some have the wrong date of birth, as I was experimenting with how the premium would change over time.
• I have an old joint student bank account I forgot about, linking me to someone else. I guess this could be disassociated.

Otherwise it's all clear, except for the fact that I very rarely use credit and always pay off the credit card. I've also moved house roughly every year for the last four years.

I've applied to Equifax & Experian for their versions but I need to either wait for a PIN or provide more details.

What can I do now, specifically about the above issues and more generally about getting credit? I'm looking to borrow up to £3000 to buy a car.

Cheers,

Rob

Tixy

Its hard to tell much from a callcredit report as this generally has the least info on it.

Is the old joint account closed? If not you'll need to close it then file a notice of disassocation (with all 3 CRAs).

The fact that only 1 search is listed would in thery be good news (but you'll prob find the others are on one or both of the other reports).
Insurance searches are listed, it does say somewhere on the file that they can do searches. Although some companies only do soft searches not application searches.

Are you expecting your other files to show anything 'bad' (defaults, missed payments, CCJs etc). If not then you might want to think why else you might have been refused.

Consider these
Are you on the electoral roll?
Are you in employment? what do you earn?
Do you have existing debts? how much?
How much credit do you have in total? (debts plus unused credit limits)
Consider your credit to income ratio - how high is that?
Consider your debt to total credit ratio - how high is that?

You don't have to answer all these on here but these are often things people overlook when wondering why they are being refused.

arewenotmen

Not expecting anything bad, all very boring.

On the electoral roll - have been everywhere I've lived
Am in employment - ~£30k
No debts except student loan
£1000 credit limit on one card

That's pretty much it.

Tixy

Could be the financial association then -do you have any idea as to whether that person may have a poor credit rating? I think all 3cras have fairly simply guides on disassociating - either an email or online form I think.

Who do you bank with? If that account has been well maintained you could go in branch and talk to them about whether they may give you a loan (they may give you an indication even without a credit check). Although its harder for them to judge with just a current account rather than an account with an overdraft.

arewenotmen

All my accounts are with HSBC, so I guess they know whether I can be trusted - it's just their rates are fairly poor. I will sort the shared account too and do as you said.

Unfortunately the car in question has just sold - not a good day

Cheers for the info.