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Debts all paid but having trouble getting credit

Morning

Just wondering if you have any advice please.

My Husband and I had debts totalling around £19k, which we paid off in full after coming to payment arrangements with all our creditors.

Our last debt was paid off in August 2009.
Amongst these debts were two CCJ in my name, one which was paid in full in June 2009, and the last remaining one finished last month (I received both of these in 2002).

We have a small balance on a Capital One credit card, which we took out to try and repair our credit file, and have an overdraft on our current account.

We both earn a good salary but are unable to get any further credit and we are unsure as to why? We have obtained a copy of our credit report which doesnt show anything.

Are we going to be affected forever by our previous debt history?

Many thanks in advance for your help

Comments

  • Tixy
    Tixy Posts: 31,455 Forumite
    Hi

    When you say your credit reports don't show anything - do you mean no credit accounts at all are visible? (or nothing other than capital one and an overdraft)
    Your CCJs won't show as they are more than 6years old. If all your credit accounts were defaulted more than 6years ago then these wouldn't show either.

    Are you on the electoral roll?
    Which of you has the capital one account? how long have you had it? have you been using it a bit each month and then paying off in full the following month?
    Which of you has the overdraft? or is it joint? do you use it or stay in the black?

    What other credit have you tried applying for?
    Which agency did you get your credit reports from?
    A smile enriches those who receive without making poorer those who give
    or "It costs nowt to be nice"
  • Sorry yes, all the previous debts we have are on there, but all showing as paid in full.
    Everything else on it are things we currently have, eg mobile phone etc.

    We are both on the electoral roll (we only moved to our current house in May 2010), and we both have our own Capital One account.
    The overdraft we have is on our joint bank account, which is re paid in full once we get paid at the end of each month.

    We have tried applying for a credit card with a decent interest rate (the one we have with Capital One is 39.9%) and my Husband has recently applied for a DSLR camera, but of which we were refused
  • BoGoF
    BoGoF Posts: 7,098 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    I'm afraid your debts are not paid in full if you are using your overdraft every month. How long is your bank account in credit for every month? If a few days then you are not looking a good option for a lender I'm sorry to say.
  • Tixy
    Tixy Posts: 31,455 Forumite
    So the debts that are showing as paid in full - did any of them have defaults? Because if so then even satisfied defaults will affect your ability to get credit whilst they are still on file. If you do have any how long until they go?

    Its often advised that using the overdraft every month is seen as negative by any potential lender (as in you are not managing on your own funds) - but obviously it depends on exactly when it reports to the credit reference agencies and whether its when its in credit or overdrawn at the reporting date.

    It might just be that you haven't held the credit cards long enough yet to build up a positive history. Have you been trying for prime cards? Maybe you could apply for a mid-way card such as barclaycard initial? (although obviously the APRs are still high and its not recommended to carry a balance on it).

    Well done on paying off your debts
    A smile enriches those who receive without making poorer those who give
    or "It costs nowt to be nice"
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