A question about credit cards and credit rating

st509

Hi there

I've recently graduated from uni and have a job now where i'm earning and paying my accounts regularly (loan, mobile phone, virgin media, gas etc). I've always paid my bills and stuff on time and continue to do so, but I had a credit card in my final year at uni (missed a few payments and forgot about it) and recently defaulted on it for a small amount (£150).

My questions are firstly, is there any way to get it removed from my credit report as the debt was paid straight away, the debt was a small amount and it is default satisfied (or settled)? Secondly, how much would this affect my credit rating, as it's the only thing that is in default (which is satisfied) and I've never missed a payment on my loan or phone or any of my other accounts?

Thank you for any advice

Tixy

Hi

If you did default on the agreement then it is correct that this is shown on your credit file and you cannot get it removed. It should now be shown on your file as a satisfied default. This will stay on your file for 6years (from the original default date) and will have a significant impact on your ability to get credit. Certainly for the first few years at least you will probably struggle to get any high street credit.