Applying for a Credit Card - It's all gone wrong

krisdouglas

Hi everyone, I have been a reader of this forum for a while, but I have never got round to actually posting stuff on here.

Ok, here is my story. I'm 18, have been since March this year, and I have now just finished college, and I am having a gap year to work as a software engineer at a new startup before doing something like computing at Uni. I thought as I had a stable job, I would go and apply for my own mobile phone contract. I went to Three at first, I went for a contract for £25 a month, with an HTC hero for 24months. A long contract, but I thought as it's quite a low cost contract it should be ok. I finished the registration process and got a phone call saying Three had declined my credit, and they wouldn't elaborate. I thought, "Oh well, I probably just went for something a little too good"... So I left it for a while, thought nothing of it, and then the subject came up with my friends, and they all had been able to take out similar contracts, one of them even took out the same contract that I had applied for, and he has no wages to speak of going into his current account. So I was confused, but my research didn't lead me far, I tried the 30 day trial of the experian report, saw nothing to speak of there and cancelled. I then went to barclays ages later, having almost forgotten that this had happened. I asked if I could have one of the introductory cards barclays provided to people with low credit and students. She entered all of my information into the computer and then told me the card had been declined. I asked for more information or some help about this, and she said just keep your account in good standing for a while and try again. This is where i started researching more, I hadn't been told that credit checks cause problems to your ratings, and that was two. I then spoke to a member of my family about what to do, and saw a phone contract with o2 which was only £15/month, I applied and it all seemed to go well, but then an hour or so later, I had a call saying I had been declined.

I honestly do not know what to do at the moment, all my family has very good credit history, and I have never been in debt, simply because I haven't been ABLE to be in debt. Please, could anyone help shed some light on this? Everyone I have tried to speak to previously had provided me with useless, or incorrect advice. All I want to do is have a credit card which I can use to build up my rating, by doing the weekly shop and paying it off, and a mobile phone.

Please, I would be very appreciative of any advice or information you could provide to shed some light on this.

Thanks, Kris.

Sparx

You'll have to wait 6 months or so and apply again - by then the Credit Checks would of lost there burden on your credit profile, that is your only option really..

krisdouglas

Thanks for your speedy response

Now, I'm glad that they will clear, but I had no checks on my credit in the first place and I was still declined. So it will just happen again, will it not?

If i was declined a card designed to help BUILD your credit rating, from a complete fresh start, what am I supposed to do?

[Deleted User]

How long have you had a current account?

YorkshireBoy

krisdouglas wrote: »

...I tried the 30 day trial of the experian report, saw nothing to speak of there and cancelled.

Rather than say what wasn't there, can you remember what WAS there?

Specifically, did it show you were registered on the Electoral Roll at the address you're using for your credit applications?

If it did, then 'time with employer' and 'age' may be the reasons for your declines. If it didn't, then there's your problem!

td_007

krisdouglas wrote: »

I honestly do not know what to do at the moment, all my family has very good credit history, and I have never been in debt, simply because I haven't been ABLE to be in debt. Please, could anyone help shed some light on this? Everyone I have tried to speak to previously had provided me with useless, or incorrect advice. All I want to do is have a credit card which I can use to build up my rating, by doing the weekly shop and paying it off, and a mobile phone.

Please, I would be very appreciative of any advice or information you could provide to shed some light on this.

Thanks, Kris.

A few things first :
-your family's credit history has no impact (positive or negative) on your credit rating (unless you have been financially associated)
- as you have never been in debt, lenders do not know how you will manage when you are in debt and hence you need to start with cards that are designed for "new" borrowers - Capital One for example, or from the bank with with whom you have your current a/c.
- secondly, priorities - why the emphasis on on mobile phone contract? Each time you apply, there is a search recorded. Why not take it easy, go with a PAYG phone (will be a bit more expensive - but use it when you absolutely have to and you will not rake up charges).

tomhank

[quote=[Deleted User];37377646]How long have you had a current account?[/QUOTE]

This is what a person would like to know it first before answering your question.;)