Credit Building!! PLEASE SOMEONE HELP ME?!

wishywoshy84

I'm in a rather annoying situation at the moment with my finances.

I'm 26, my income is fairly good, and I don't have any debts at all. I pay out for my rent, phone, car, food and bills but thats pretty much it.

I've been with my bank for 8 years now and used to have an overdraft and used to be offered credit cards. Always declined them.

My credit hasn't been great for a while because i used to ignore my phone payments when i was alot younger. Silly i now know but i was young and foolish. I took a loan from my bank to clear my overdraft cos at the time it made sense.

I paid off the loan almost two years ago, and since then, and before that to be fair, i have paid all my bills on time, had steady and decent wage go into my account, never go below £0 in my account as i don't have an overdraft so i can't anyway and my credit is still terrible.

I applied for a basic account with another bank and they told me i was only allowed a 'cash card' that i could only use at their specific atm's and that was all it was able to do. I felt like i was a 9 year old!

I can't get any credit cards, overdrafts or any other accounts by the sounds of it at all. I even applied for a poor credit credit card for people with bad rating to rebuild and they said no.

I've asked my bank what i can do and all they keep saying is to ask again in 6 months time. I am trying to save money but with things the way they are i struggle to save much over. I would put it into a savings account but can't get one!!

I joined Experian to see what i could find out and there doesnt say anything on there which would keep it down. I'm on the electorall roll too as i heard that may help.

Can anyone please give me some more pointers as to what i can do. As i have no debts, i know an overdraft or credit card isn't needed but i would like some sort of backup in my life and a chance to grow up at some point!

Any help would be really really appreciated.

[Deleted User]

Who did you apply to? And how long ago were your missed payments on the phone contact?

Tixy

I would check your credit file with equifax as well as experian.

On experian does it show the phone contract? does it show the missed/late payments markers and how many did you have and how long ago. Does it show that this account has a default registered against it? if so what date is on the default?

What other credit accounts do you have showing on your file? do you have a current phone contract on there? anything else?

Fruit_and_Nut_Case

wishywoshy84 wrote: »

I'm on the electorall roll too as i heard that may help.

No "may" about it. It's virtually essential.

book12

Try other credit cards to build your history. Even though one doesn't accept you, the other one might. http://www.moneysupermarket.com/credit-cards/credit-builder/

Basic accounts you could try (all comes with a debit card, online banking, SO/DD, withdraw from any cash machines): Barclays Cash Card Account (comes with debit card despite the name). Nationwide Cash+, Co-op Cashminder, RBS Key Account, Natwest Step Account

Twister84

wishywoshy84 wrote: »

I would put it into a savings account but can't get one!!

Not sure about other banks, but RBS & Natwest savings accounts are not credit scored accounts - anyone 16+ can have one.

book12 wrote:

Basic accounts you could try....RBS Key Account, Natwest Step Account

This wouldn't help the OP - with these accounts you won't get anything. Again, we don't know who the OP banks with, but if it's RBS, he'd need a normal Current Account, and if Natwest, it'd be a Current Plus.