What small loan to improve credit history?

Rob_UK

I`m willing to take out sub £300 loan for 12 months, just to improve my credit history as I have one £24 default from Virgin Media since 2008. Any suggestions? No zillion APR please :cool:

StuTheDon

Rob - have you paid of the £24 to Virgin and had it marked settled on your credit report? Also, I would not go for a loan - can you get a 0% credit card or other cheaper card - just make sure to pay off the balace in full each month.

Rob_UK

StuTheDon wrote: »

Rob - have you paid of the £24 to Virgin and had it marked settled on your credit report? Also, I would not go for a loan - can you get a 0% credit card or other cheaper card - just make sure to pay off the balace in full each month.

Yes that`s been paid. I`m taking them to court because I was never aware I owe them £24 - never got any letters or calls.

I already have Vanquis, Capital One, Barclaycard +3 prepaid Master cards with their credit boosters +o2 contract +4 direct debits. But I want to improve anyway.

intranicity

Try applying for a home shopping catalogue like Littlewoods, there prices are higher than the main street, but you could buy something from them for £300 and pay it off over 12 months interest free, so that would balance the higher price.

these show on your credit file, so will help to improve your profile

Tixy

If you have that many accounts already then getting another is unlikely to make any additional improvement to your file.

Rob_UK

So, how many credit cards is enought then to improve credit worthness?

Tixy

Well you have 3 credit cards, the prepaid creditbooster cards should show as loans, so 3 loans, and at least 1 telecoms account. Thats certainly likely to be enough.
Even with all these the default will continue to impact on your file. I don't think having anymore accounts will lessen the impact of the default.

Rob_UK

Credit boosters are showing up nicely. That damn Virgin Media It takes months to get hearing