Advice Please!!

tr03bor

hello everyone, im nearly 19, only have a current account with a £100 overdraft, looking to get a credit card, tryed my own bank who said no because i do not meet there requierments , tryed capital one and got reject because of my credit history (which is fine, low score because i do not have any credit)

What can i do in order to raise my credit score to get credit! I feel like im going round in circals!

grumbler

Hi

Do you have regular income? Do you give a landline telephone number on applications? Are you on the electoral roll?

First check your credit files: Check and improve your Credit Score . Is everything correct there? Is your current account recorded? Mobile phone contract? If everithing is correct, try appealing Capital One rejection. Usually they don't refuse to give a card with small limit and £200 deposit to people with just insufficient history. If unsecsessfull, wait a couple of months and try applying for some store card or one the following cards: Barclaycard Initial, Aqua, Vanquis.

tr03bor

yep have a full time job, have a landline, am not on the electroal roll but have registered have got to wait till december to be on it!

is there someone i can use to increase my credit ratings?

eg? like using some services that report to a credit referance agency? if there is any?

grumbler

The only services I know are mobile phones (contract), store cards , catalogues - for example,
However, you cannot be sure that they will accept you.

tr03bor

i applied for a contract phone and get rejected, so need a way to get some history i have a good job, good money, i pay for my gym and car insurance monthly.

tr03bor

anyone think of anything to improve my credit history?!? its swings and round abouts, You need credit history,in order to get it! What if i havent got any!

cacharel

There could be a number of reasons why you've been rejected.

1. How long have you had your current account.
2. Are you always in credit.
3. How often do you go overdrawn.
4. Have you ever had anything on credit.

It could be that you've not had your account long enough. If you're applying for a credit card from your own bank, they sometimes want you to have your account for a certain period to time. If like me when I was your age, you're never in credit, then for your bank that speaks volumns. You need to be in credit for at least 6 months before the bank will even consider you. Again, when I was 19 with my first current account i was overdrawn quite a few times and again, the banks will ask you to be in credit for at least 6 months. If you have credit with any organisation, you need to make sure that your repayments are always on time because if they are late, the details gets put on your credit files. This may possibly why the bank is saying no to your credit card if this applies to you.

tr03bor

been with my bank for 4 months now, went overdrawn once by £1.42 which counts with the bank, im thinking of get road recovery anyone know if this would appear on my credit file and anything like that

Thanks for your help everyone

tr03bor

bump bump bump