Deposit for a Credit Card

Kintoo

Hi All

In the past few years I had run up some debt due to a new family and low earnings, now I have a much better paid job and have settled 99% of my debt.

I'm now just stuck with 1 mobile phone bill unpaided for 1 1/2 years due to them maiing an error on my account and refusing to amend it.

So my problem, even though I settled all my debt and have tripled my earnings in 2 years I still can't get credit because of the past problems, is there any card companies I could contact and offer a deposit that would most likley consider and offer me a card, I don't want to apply and get credit checked until I find a sutable company (As I know to many searches will make matters worse)

I don't want a card that you have to pay a fee to get but I don't mind paying a deposit up to say 5x the credit limit to help start repairing my rating.

Any comments or suggestions would be most welcome.

Cheers

Dave

Astaroth

What are you wanting the card for? Is it to rebuild your rating? For the convenience of being able to pay online etc?

If it is simply for having a card then a pre pay Visa card may be a better idea as there is no credit involved

If you want to rebuild your history then there are a fair number of companies like Vanquis which target the poor credit history market. Vanquis doesnt charge an annual fee but like all these cards (as beggers cant be choosers) they have exceptionally high interest.

wullieb1

I got a Captal One card. paid a 200 quid deposit and got a 200 limit.

Had it for about a year and a half still on £200 but it keep adding good points to my credit record.

Kintoo

Astaroth wrote:

What are you wanting the card for? Is it to rebuild your rating? For the convenience of being able to pay online etc?

If it is simply for having a card then a pre pay Visa card may be a better idea as there is no credit involved

If you want to rebuild your history then there are a fair number of companies like Vanquis which target the poor credit history market. Vanquis doesnt charge an annual fee but like all these cards (as beggers cant be choosers) they have exceptionally high interest.

I am wanting it to rebuild my rating yes, will take a look at Vanquis, I am not bothered about high interest rates as I would be paying in full every month. I know I have to wait the 6 years for my CCJ to go away but a few extra points would help

Kintoo

wullieb1 wrote:

I got a Captal One card. paid a 200 quid deposit and got a 200 limit.

Had it for about a year and a half still on £200 but it keep adding good points to my credit record.

Unfortunatly they don't seem to do that anymore

Linda32

I don't know how Egg Money fairs with a bad credit rating but they pay you interest on any in credit balances. The interest is paid on the statement day each month.

Cerenia

I've heard Aqua are good for bad credit rating owners as well.

Kintoo

Cerenia wrote:

I've heard Aqua are good for bad credit rating owners as well.

I do not fancy Aqua as they are part of Halifax bank who !!!!!!ed me up in the past

I have sent a nice email to Egg stating the situaltion and asking about deposits etc before I apply, you never know