why can i never get 'approved' for anything?

obay

i've been trying to build up my credit rating for awhile now and.. nothing is working..

i setup a new account with my bank for credit building, i have set up 1 direct debt for my mobile phone, yet it isn't building anything? It has been like this for the last 12 months.. I have also set up a direct debt to go right into my savings account (£250.)

I pay for everything on this card. Petrol, food.. etc yet the bank does not seem to be giving me anything?

anyone help?

[Deleted User]

Which card? Credit or debit?

obay

It is a debt card. It's a Lloyds Visa debt.

[Deleted User]

That's your problem. You're not going to build up your credit rating because you're not using any credit. Apply for one of the sub prime cards (aqua, vanquis et al) and use that and pay off in full. That'll kick start things.

Fruit_and_Nut_Case

obay wrote: »

i've been trying to build up my credit rating for awhile now and.. nothing is working..

i setup a new account with my bank for credit building, i have set up 1 direct debt for my mobile phone, yet it isn't building anything? It has been like this for the last 12 months.. I have also set up a direct debt to go right into my savings account (£250.)

I pay for everything on this card. Petrol, food.. etc yet the bank does not seem to be giving me anything?

anyone help?

obay wrote: »

It is a debt card. It's a Lloyds Visa debt.

Normally I don't comment on spelling mistakes or typos but in this case it's important. The word you want is debit.

KingElvis

You need to apply for a low end card like a Crapital One Classic, a Vanquis, Barclaycard Initial or Aqua

Once you've had one of those puppies for six months, other lenders may take you seriously.

CLAPTON

what exactly do you want the bank to offer you?
have you applied for something and been declined

use of a debit card doesn't affect your credit rating as it doesn't appear there
paying into a savings a/c has no effect on your credit reocord (it's not credit)

what do your credit record say

obay

yeah. I've been paying my mobile phone bill via that, I think I've mucked my self up when I paid for my car insurence right out, I had the money so I just paid for it.

The bank told me to pay for absaloutely everything on this card monthly so we can see where everything is going.. But it has been like this for a while. I applied for credit on apple iPad 2 and I got declined. No reason.

lisyloo

The bank told me to pay for absaloutely everything on this card monthly so we can see where everything is going

In what context did the bank tell you this?
Was it in the cotext of an application for credit?
Or managing your debts?

Have you applied for your statutory credit reports yet?
I suggest you get statutory (£2) reports from Equifax and Experian.
I would siggest you DON'T go for the free trials as you might forget to cancel and then you'll pay through the nose (sometimes they make it hard by making you wait on the phone for an hour). Don't bother pay £2.

Then come back and tell us what is on your report.
For example how many account do you have i the "credit accounts" section.
I suspect your issue is lack of credit history.
Using a debit card doesn't build up history although your current account should show if you have an overdraft.

obay

I have no form of credit becasue I pay for everything upright as I've just been told. If I got the money to pay for the year or direct out. I'd perfer to do this. However the person who told me this is the incorrect practice.

I have 2 accounts, 1 for wages and 1 joint savings account with my partner.

I have no debt cause I have never been offered credit card or anything before. However I've managed to get a mobile phone with the help of someone who was willing to garentour my contract. However this has not helped.

My car insurence is paid for the year up to date. That was only becasue I inhiritted some money.

lisyloo

Your problem is lack fo credit history.
You need to start with one of the easy to get sub prime cards as mentioned earlier.
Once you've had that for 6 months then you can try for more, but I'm afraid it's a slow build up.