Electoral Role worries

Scotty1.7

Hi all

I'me brand new to this site and i just need some advice.

Few years back I almost got myself in alot of trouble- thanks to mum and dad locking me down i managed to pay off the vast majority and even get money behind to move out with a friend when she needed help after being ditched.

However after spending about 3-5 years not applying for anything credit wise, barring my mobile phone, I've decided a credit card of some sort is a half decent idea.

I have a little savings which fluctes depeing on what breaks on my car each month (and before anyone says sell the car, thats not a option as I can't get to work without)

I have 2 loans and I have a Co-Op Bank Priv Prem account.

I decided to stick with the Co-Op and apply for a card- to be declined ( this was back in May)

It then came to light that my friend hadn't added me on the electrole role for the house- and after much arguing and threats of walking out leaving her in the lurch it has been sorted and gets updated on the 1st of december.

But i am worried that this will have had a major issue on my credit file/ history- with the fact i basically disapperead off the role for almost 2 years.

And on top of that after the 1st of december, what card could I apply for?

I have 0 defaults or late payments in my past history. I have 3 offical debts and the O/D on my bank account which does get used ( its fee free and intrest free) but is always paid off every month.

I've read alot obout these sygma cards, which seem to offer reasonable rates ( my 1st CC was a Cap one at 29.9% and then i foolishly got a Mint card at 16.9%)

Any help would be great

Cheers folks

CLAPTON

the biggeest concern here is why you are living above your income
you have an OD
and 2 loans

better to consider paying these off rather than apply for more credit

in any event wait until you are on the electoral roll and check that the credit files actually show that

themoneyoracle

Hi Scotty

Firstly, I am glad you have managed to put your difficulties with your house mate aside.

In regards to being on the electoral roll, this is imperative when applying for credit. When I first moved in with my partner, I had an excellent credit score with Experian, but as I wasn't on the roll I got declined for a low value loan with Apple ( who generally are quite relaxed as they give students loans on MacBooks etc).

So, get yourself onto the electoral roll, and if you can, pay those other cards off.

All the best

Rich

jd87

It seems to me that when it comes to the electoral roll, the main thing is that you are on it at your current address at the time of applying for credit. Electoral roll history doesn't really matter much. The card company just wants to be able to see that you really do live where you say you live now.

YorkshireBoy

jd87 wrote: »

It seems to me that when it comes to the electoral roll, the main thing is that you are on it at your current address at the time of applying for credit. Electoral roll history doesn't really matter much. The card company just wants to be able to see that you really do live where you say you live now.

Like 'time with employer', 'time with bank', etc, Electoral Roll history falls under the 'stability' area of credit scoring and, as such, plays a significant part in a lenders assessment.

Indeed, Experian say as much in their 'your credit report explained' booklet...

Organisations will usually consider information on the electoral roll at current and previous addresses when making a decision.

http://www.experian.co.uk/downloads/consumer/creditfileexplained.pdf (page 5)

stevenc1979

The electoral role is not that important, I am not on it and haven't been for a few years and I have no problems getting credit.

Scotty1.7

Cheers for the replies folks

CLAPTON- I'm not actually living above my means, I have circa £90 at the end of each month left after all my out goings, inc food and fuel etc. The only reason I go down into my overdraft was a bank issue which i've been equalising out. When i first got my account 4 years ago it was cause i needed it to work for the co-op. There was a mistake at the bank when i asked the transfer some of my wage to cover my payments and then set up a standing order to send it out every month. They sent it out twice in that month, taking virtually all my wage and leaving me with about £20 quid. There soloution was a over draft to cover it (0 charge, 0 intrest) that has been slowly reducing off- I say slowly cause it took them 5 months to get the funds back in my account to balance it out. The 2 loans are 1 for my car, and then one i had to take out after discovering some very bad history on the car ( which was purchased privately and as such left without a leg to stand on)

The card is more to improve my rating, and to have as a dire emergancy needs.

Experian_company_representative

Scotty - please bear in mind that it's likely to take about three weeks from the publication of the new registers on 1 Dec for the information to apear on your Experian credit report.

James Jones

Scotty1.7

Cheers for that.

Looks likes it Feb at the earliset for all the CRA's to update.

Scotty1.7

Right 1/12/2010 is here and i should be on the e.r now.

Any way i can check it? 192.com want £5 for that so they can sod off.

jd87

Scotty1.7 wrote: »

Right 1/12/2010 is here and i should be on the e.r now.

Any way i can check it? 192.com want £5 for that so they can sod off.

Can't your council tell you?