Credit cards/building credit rating

dojoman

Right before anyone shoots me down in flames I am not looking to get credit for credits sake. I would like to get one of the CC that will allow me to start to rebuild my credit rating. On the Vanquis and Capital One application form it states that you are not eligible if you have been declared BR in the last 12 months. Sorry to appear thick, but does that mean once you are discharged then they would consider you? I do not want to apply and be turned down and have that on my file. I would not apply for a couple of months yet and not until I have cleaned my CRF up.

BB&B

Cant say for Vanquish, but with Capital One, you will automatically get turned down during the 12 months since your bankruptcy date, irrespective of any Early Discharge.

So hold off applying until a full year has passed (and defiantly until after what would be the Automatic Discharge date)

Tim

dojoman

BB&B wrote: »

Cant say for Vanquish, but with Capital One, you will automatically get turned down during the 12 months since your bankruptcy date, irrespective of any Early Discharge.

So hold off applying until a full year has passed (and defiantly until after what would be the Automatic Discharge date)

Tim

Hi Tim, thanks for the quick reply, my AD was 25/11/2010 am I right in thinking I would be alright to apply in 2 or 3 months time after I have cleaned my CRF? or am I being thick?

BB&B

In theory as the AD date has passed you should be OK, but I would clean the CRFs first as a precaution and to give a better chance.

Tim

dojoman

Thanks Tim, much appreciated

kepar

I applied for a Vanquis card about 4 months after my discharge date and had no problem. The limit was low, which was good. I have been using it once a month and paying that off. I have just been advised that the limit is to be increased after about 7 months.
Useful to have in an emergency and to build my credit rating, but I am trying to stay controlled and not let what happened to me before my br happen again.

Good luck with your application.

dojoman

kepar wrote: »

I applied for a Vanquis card about 4 months after my discharge date and had no problem. The limit was low, which was good. I have been using it once a month and paying that off. I have just been advised that the limit is to be increased after about 7 months.
Useful to have in an emergency and to build my credit rating, but I am trying to stay controlled and not let what happened to me before my br happen again.

Good luck with your application.

Thanks for that Kepar, much appreciated.

only_mee

Just got my Vanquis to build my credit file back up

sugarbabe-47

nice one Onlymee, now be careful
I will be trying for one of those next year to build my credit file up, but at the mo I am cleaning my files soon be done though

only_mee

Oct 06 i went BR, and yes purely for building my file.

dojoman

petrolhead. wrote: »

I'm sorry but you are wrong on that. Enterprise (the company that I have used for years) look at a debit card and a credit card as being the same.

There is no need for credit cards. Have your money in your bank account and use the debit card. Once you run out of money that's it! You can never be in debt again.

Just try it, tell them you don't believe in credit cards and offer your debit card and see what they do/say.

Unfortunately they are not in every country.