How to credit check with no history??

Babache

izools wrote: »

I'd be incredibly surprised if Babache doesn't get Cap One Classic & Vanquis. In fact, I'll go so far as to bet a pint on each. So long as Babache is registered to vote at their current address and has a bank account.

Well, one down, one to go! Had a response from Cap One today - dated the 18!! It's a "no" based on my credit history or lack of it "using statistics to predict the way an applicant might use a credit card". And Experian and Equifax

This is not helpful Fingers crossed that Vanquis come up trumps.

I had a call today from a loan company (which is, in my view, tied in with these card apps somehow). The company is called Strawberry something-or-other?? They said that they could offer me £1,000 over 12 months at only £97 / month!! Unfortunately, I can't remember there name; I was on my lunch break and couldn't write the name down but ... I reckon that that is a really good deal? In my position, anyway and would mean being able to relocate (in a house-share at any rate). Any thoughts??

Babache

http://www.wearestrawberry.com

I think this is them. They are more a "loan broker" service but a charming Natasha phoned me today with the good offer above. Might be worth a try if Vanquis turn me down as well ...

KingElvis

Babache wrote: »

http://www.wearestrawberry.com

I think this is them. They are more a "loan broker" service but a charming Natasha phoned me today with the good offer above. Might be worth a try if Vanquis turn me down as well ...

They're a broker Babache, they'll take you money and supply shizzle and torment.

Don't go near these people.

Babache

chexum wrote: »

I would not advise checking cards before talking to a bank - if they see credit searches, it may be even more difficult to override a decline, even for someone actually able to.

With low (fair) rating, only subprime would have a reasonable chance, but they won't go higher than £100-£200, which is not useful to trash the credit file with at this point.

Should have listened, Chexum, coz I've trashed my credit rating by applying and being turned down by the two cards that should have accepted me!! _pale_
Don't know what else to try now apart from maybe a credit union? Anyone have any experience of this method?

chexum

Bummer... I've been there - if you must know, I've been declined by Vanquis when I already had a credit card from my bank for 6 months - so they can all be picky, it's not you as a person. In 6 months, the searches that did happen won't count much, and after a year, they will be forgotten completely - it's not as "thrashed" as it may sound right now.

I'm a bit afraid to say but for a few months you may not have a great chance for credit - and the type of lenders that look promising are best not to be touched. Is there any other chance that you could build up a small savings? Selling stuff of yours you didn't think others would value, lending from friends, family? The debt free wannabe parts of the forums might help as well.

The normal lenders will be happy to talk to you if you are not (or appear not to be) desperate. The main key is stability, no changes in your circumstances, and building internal credit rating with your bank - they need the shortest time to start trusting you, in some cases as little as 6 months. Make sure you have regular outgoings, hopefully income as well, while showing everything is under strict control, it's good to have 1-2 direct debits (only for the services you must have, obviously), I've seen earlier suggesting standing orders to a savings account, no matter how small - the simple presence of the standing order and the savings account is positive in itself.

In a few months, or even weeks, try talking to your bank again, asking if you would qualify for a credit card - never mention you "require" the credit for life changes, just for everyday cash flow. You could mention you tried it earlier as you've heard it's good for credit building. If it comes back negative, you could appeal their decision, stressing as much your stability as you can, and explaining the missing time, maybe even giving bank statements from the other country to show that you indeed just moved back, you're not trying to get a new identity.

You could try appealing Vanquis or Cap1 as well, but if you actually get the card with a £200 limit, chances are you'll be stuck with only them for longer than you'd want, so it may be worth to wait for your bank's idea.

Babache

Again, that is brilliant input, Chexum, mille remerciements

I'm getting a bit off the (original) subject but as OP was me, I'll forgive myself

I've checked out quite a few different threads - including looking at stuff like WDF and other "brokers".

I've got myself in a right quandary! Refused by both Vanquis and Cap One, I really don't know which way to turn. As stated before, no-one in the family is in a position to up-front the circa £750 I'd need to commute whilst awaiting the first month's wage ; what was a no credit history now becoming a bad credit history, my options seem to be non-existent and I'll certainly have to turn down what I believe to be a concrete job offer paying up to £24k!!! :mad::mad:

Another thing is that while I have to wait 6 months or so to repair my credit score, I'm prevented from applying for anything that isn't within walking distance of my abode

Oh, and the fact that I had to leave most of my belongings behind in France, I have nought to sell

Babache

And what about someone like e platinum plus? Couldn't find a link on the forum but they say "0%. £1.000 limit and guaranteed acceptance". I suppose that that would be too good to be true ergo it isn't ho hum :rotfl: