Getting back on track.. which CC is best?

RedTulip

Hi

I was on a dmp until last year when I settled on an F&F. I have one default on my file from 2008 which I know will drop off in 2014(!)

I'm trying to get my credit rating back up to somewhere around decent and was wondering what anyone could recommend as the 'best' card to go for. I've been looking at Capital One (did have an account with them before which was included in the dmp) and Vanquis.

I have 2 store cards which I deliberately kept out of the dmp, and a contract mobile which I've had for 7 years. I have never missed a payment on any of these and always make much more than the minimum payments on the cards, if not clearing them, so I know there are consistent, on time payments on my report.

Is it really worth me applying for a cc to try and hep my rating? I did the 'pre check' thing on moneysupermarket.com and got some good results for 'chance of success' for 2 or 3 cc's. The only thing I don't want to do is apply and get knocked back and do more damage than good, can anyone offer any advice please?

Thanks

BugsyBrowne

RedTulip wrote: »

Hi

I was on a dmp until last year when I settled on an F&F. I have one default on my file from 2008 which I know will drop off in 2014(!)

I'm trying to get my credit rating back up to somewhere around decent and was wondering what anyone could recommend as the 'best' card to go for. I've been looking at Capital One (did have an account with them before which was included in the dmp) and Vanquis.

I have 2 store cards which I deliberately kept out of the dmp, and a contract mobile which I've had for 7 years. I have never missed a payment on any of these and always make much more than the minimum payments on the cards, if not clearing them, so I know there are consistent, on time payments on my report.

Is it really worth me applying for a cc to try and hep my rating? I did the 'pre check' thing on moneysupermarket.com and got some good results for 'chance of success' for 2 or 3 cc's. The only thing I don't want to do is apply and get knocked back and do more damage than good, can anyone offer any advice please?

Thanks

Pre-check applications are a waste of time,do I think is it worth you applying for credit the answer is NO your credit rating is trashed until 2014 so do yourself a favour and don't bother!!!

izools

star-fire wrote: »

Pre-check applications are a waste of time,do I think is it worth you applying for credit the answer is NO your credit rating is trashed until 2014 so do yourself a favour and don't bother!!!

That's tosh!

It is possible to be approved for credit with defaults etc especially if they're all settled.

OP, I suggest you start off by applying for a Capital One Progress card. If you aren't approved for this, apply for an Aqua card and try Progress again once you've held the Aqua card for a year.

Good luck! :beer:

BTW - have you checked your credit files to make sure the creditors have actually updated the accounts to show them as paid off?

BugsyBrowne

izools wrote: »

That's tosh!

It is possible to be approved for credit with defaults etc especially if they're all settled.

OP, I suggest you start off by applying for a Capital One Progress card. If you aren't approved for this, apply for an Aqua card and try Progress again once you've held the Aqua card for a year.

Good luck! :beer:

BTW - have you checked your credit files to make sure the creditors have actually updated the accounts to show them as paid off?

What's tosh about it ,OP has a couple of store cards that are building his/her credit rating up.

Will the OP get a decent card answer- NO
Do the OP need more cards to build up their credit rating answer- NO
Will the OP end up with sub-prime sh*t for the next 2 years until their default fall off answer- YES
Is Sir star-fire right again answer -YES

RedTulip

Star-Fire, whilst I appreciate your response, I don't want a 'decent' card. I want something to help my credit rating as, whilst I was silly in the past, I have now learnt from my mistakes and attempting to rebuild my credit rating for the future. I already know I am pretty much screwed for the next few years and as such will have to suffer the consequences. As for the comment on pre checks being 'tosh' I fail to see this as a valid statement considering how much they are promoted on sites such as this, surely if they were such a waste of time they would not be publicised as much as they are.

Thanks Izools, your response is much appreciated. Will have a proper look at CapitalOne and Aqua. I checked Experian and Equifax the other week, all is well and all balances for the creditors that were included in my dmp are showing settled, the only thing is the default (bit confused as to why only one creditor marked a default and not the other, but it's not as issue I'm going to drag up with them) Had an issue getting my callcredit one but will try again over the weekend

Thanks again.

BugsyBrowne

RedTulip wrote: »

Star-Fire, whilst I appreciate your response, I don't want a 'decent' card. I want something to help my credit rating as, whilst I was silly in the past, I have now learnt from my mistakes and attempting to rebuild my credit rating for the future. I already know I am pretty much screwed for the next few years and as such will have to suffer the consequences. As for the comment on pre checks being 'tosh' I fail to see this as a valid statement considering how much they are promoted on sites such as this, surely if they were such a waste of time they would not be publicised as much as they are.

Thanks Izools, your response is much appreciated. Will have a proper look at CapitalOne and Aqua. I checked Experian and Equifax the other week, all is well and all balances for the creditors that were included in my dmp are showing settled, the only thing is the default (bit confused as to why only one creditor marked a default and not the other, but it's not as issue I'm going to drag up with them) Had an issue getting my callcredit one but will try again over the weekend

Thanks again.

You say you want something to build your credit rating,you already have 2 store cards that report your behavior to the CRA's.

And you say about you can't see a valid statement in my comment about pre-checks being Tosh.
Well let me just inform you again do not take notice of pre-checks,I used to think the barclaycard pre-check was the best one until people starting applying for a card barclaycard said they were most likely to be accepted and guess what they all kept being turned down.

KingElvis

^^

Not only that, some who are approved get their Barclaycard, get a pin and then a letter telling them it's closed.

Rumours are that BC are kicking out lots of people who already have more than two "active" credit commitments.

KingElvis

Vanqswiz, Aqua and Crapital One are your friends for the next few years.

Barclaycard do one too but they seem to be getting more picky going from stories on this site recently.

BugsyBrowne

KingElvis wrote: »

^^

Not only that, some who are approved get their Barclaycard, get a pin and then a letter telling them it's closed.

Rumours are that BC are kicking out lots of people who already have more than two "active" credit commitments.

I heard they are getting really picky too,sh*ts then made a profit of 7 billion as well!!

KingElvis

star-fire wrote: »

I heard they are getting really picky too,sh*ts then made a profit of 7 billion as well!!

The people affected are those with "two or more active credit agreements"....well that about covers everyone but bankrupts and children then :rotfl:

BugsyBrowne

KingElvis wrote: »

The people affected are those with "two or more active credit agreements"....well that about covers everyone but bankrupts and children then :rotfl:

:rotfl:TRUE