Boosting credit score

Tra8erse

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BugsyBrowne

Tra8erse wrote: »

Hi all, I am new here and trying to find an answer to my query. Perhaps an identical thread already exists but I did not find it, so any tips or links will be appreciated.

The thing is, I have a very good credit report/score and my partner's is poor. This is not because of any negatives on his report but simply because he never borrowed in his life. He was recently turned down for a credit card by his own bank (which he has been banking with almost since childhood) and for Barclaycard initial - which is supposedly aimed at people new to credit - exactly like him, so I am really miffed that they turned him down. :mad:

What is the best thing to do in this situation? I was thinking that we could go for a sole to joint mandate with my bank (HSBC). This way, as a joint account holder he could either be added to my credit card (with HSBC as well) or apply for a card later in his own right. Would any of this work? If so, will it improve his credit rating? I also have a history of a good use of overdraft - if I add him to my account, I suppose this will show on his report, too?

Thanks in advance for any thoughts/suggestions.

If he has bad credit my advice would be stay well away from him on the credit front, if you get a joint account then he will then be your financial associate which means when you apply for credit they will credit score you with his report as well.

Tra8erse

Yes, I understand this, but what to do if he is not even given a chance to prove his creditworthiness? To build good credit, one needs to be granted some credit, and if one gets turned down even for rubbish credit cards what does one do?

He is very good with money generally, too sensible in fact - otherwise I would not have even considered this joint thing. And we would not have this problem of no credit.

Tra8erse

And another thing, if we do apply for credit, we will have to apply jointly anyway, so the sooner his credit improves, the better.

BugsyBrowne

Tra8erse wrote: »

And another thing, if we do apply for credit, we will have to apply jointly anyway, so the sooner his credit improves, the better.

Barclaycard initial he applied for is one of the hardest of the sub-prime bunch,tell him to apply for capital one classic or vanquis they will defiantly accept him.

PNPSUKNET

start with a capital one card, they are even giving 0% on the basic card at the moment.

CLAPTON

what exactly do his credit reports actually say
is he on the electoral roll
what is his income

Tra8erse

CLAPTON wrote: »

what exactly do his credit reports actually say
is he on the electoral roll
what is his income

His credit report says: 'no negative factors' - or smth like this, he is on the electoral roll, no CCJ, no bancruptcies, no defaults, he is in a full time employment with a pretty average income - but well above the one many credit cards require. Quite simply, nothing bad, but no history either.

He has a current account with an agreed overdraft, held it for years, but this does not show on the report at all. I found it strange - mine shows my account with overdraft and the way I use so it contributes to my score and available credit. Is it something he should try to amend, you think?

Tra8erse

PNPSUKNET wrote: »

start with a capital one card, they are even giving 0% on the basic card at the moment.

He can't start with Capital One because it says on their website:

"We're not likely to accept you if:

- you've never had credit in the UK before..."

PNPSUKNET

jdwilliams then, dont need to buy anything but they accept anyone. Capital one have updated that, never was on before

izools

Capital One Classic can still accept people if they've never had a card before. They are just guideline requirements.

The alternatives are Aqua Mastercard and Vanquis.