cant get credit

toriemiles

me and my partner have never had credit cards, loans, overdrafts, catalogues and we have never had a late bill and now we want to apply for a catalogue and a small loan we get rejected. we have been rejected for every store card, credit card, catalogue and loan tht we have applied for how are we ment to get our credit rating up if noone will accept us

lisyloo

Do you both have bank accounts?
Have you tried your own banks as they have records for you already.

Have you both checked your credit reports?
There could be mistakes on there that are causing an issue.
Most likely it's lack of history but it's worth checking.
They are £2 each from Experian and Equifax.
(There are free trials but you'll probably spend more than £2 on the phone trying to cancel so don't bother).

For the time being STOP making applications as it's harmful.

Get your credit reports and talk to your own bank.
If they turn you down then try to find out what you need to do from your own bank.
There are better placed as they have your records with them.

toriemiles

we have our own accounts weve done credit reports nothing on there and weve talked to our banks nothing helpful is being said we simply dont understand why we cant get nothing and we are on the electrol poll

Experian_company_representative

If your credit reports contain no data apart from the electoral roll then I suspect this lack of credit history is the problem.

Do you have overdraft facilities on your bank accounts? Banks now register these on credit reports which can help, whether or not you actually use the overdrafts. You could also try applying for a credit card aimed at people with a poor credit history - there's plenty of advice on this site about this.

James Jones

Tixy

If you have no credit history at all then you its likely you will need to start with subprime credit - here is a link worth reading http://www.moneysavingexpert.com/loans/credit-rating-credit-score#improve and where to try. If even the subprime cards won't accept you then look at the 'last resort' prepaid card on this link http://www.moneysavingexpert.com/cards/bad-credit-credit-cards

That said how many applications have you made recently? Making lots of applications close together will affect your chance of getting any account as you look desperate for credit. You may be better to wait 6months before trying to get a subprime card.

lisyloo

It's definitely your lack of history.

Also all your recent applications will be doing harm as you rack them up, so you need to stop applying for the teim being (maybe six months).
Read up on the links provided before you apply again.

[Deleted User]

goodgirl80 wrote: »

It's totally unfair that someone wwho hasn't had credit - therefore no chance of any late/ unpaid debts, is forced to get a credit card with an extortionate interest rate!

No it's not. You don't lend lots of money to someone who hasn't demonstrated the ability to pay it back.

I've never made any mistakes in open heart surgery, but that's because I've never done it before. It's not going to get me a top surgeon's job, is it?

Tixy

goodgirl80 wrote: »

It's totally unfair that someone wwho hasn't had credit - therefore no chance of any late/ unpaid debts, is forced to get a credit card with an extortionate interest rate!

You might lend a friend £100 because you know them and know they will pay you back and know that they will be able to afford to. You probably wouldn't want to lend money to a stranger as you have no idea if they would pay you back or how they handle their money.
Exactly the same applies to a credit card company.

Nobody has to pay the extortionate interest rate, they simply need to use the card each month and to ensure they always pay off the balance in full on time the next month - that way they pay no interest at all. After 6-12months of doing this the person will probably be able to get a card at a better rate.

BugsyBrowne

Deleted_User wrote: »

No it's not. You don't lend lots of money to someone who hasn't demonstrated the ability to pay it back.

I've never made any mistakes in open heart surgery, but that's because I've never done it before. It's not going to get me a top surgeon's job, is it?

Thats one of the best answers i have heard.

lisyloo

It's totally unfair that someone wwho hasn't had credit - therefore no chance of any late/ unpaid debts, is forced to get a credit card with an extortionate interest rate!

Why??
No-one has a god given right to cheap credit.
No-one is forced to pay interest.

I don't know their circumstances and what they want money for so I'm trying not to be judgmental, but I'm dying to suggest living within their means.
They must be getting by now somehow (without credit) so why not carry on without cards.

The savvy people around here only have cards for section 75 protection, cashback, loyalty benefits and cheap foreign currency. They don't borrow on them and don't pay any interest.

Getting into debt for things you don't need is a downward spiral, because you start by living beyond your means and then you carry one but plus interst and then plus interest on your interst and then when you default there are charges.
Why do that.
Why not work and save up for whatever it is you want??