rejected credit cards

simond224

Hi people,
i keep getting rejected on credit cards and balance transfers, i dont have much debt just the 1 card and 1 loan... but i checked my credit rating the other day and it said "poor", but all my card payments and loan payments are showing up to date on there... the only thing it says may be wrong is the fact that were not on the electoral register.. we will be on that from the 1st of december will the credit score go up as soon as were on there ??? because i really need a card or a loan !!!



thanks simon :eek:

YorkshireBoy

simond224 wrote: »

we will be on that from the 1st of december

The files are sent to the CRAs by your council's electoral services department from/after 1st December. There's no guarantee your CRA file will be updated on that date.

To put yourself in the best position you should verify, by ordering your reports, that they have this detail before making any more applications. However, if you...

keep getting rejected on credit cards and balance transfers

...this suggests you've made quite a few applications recently? If that's the case you'd be better waiting a few months for your file to settle down.

will the credit score go up as soon as were on there ???

Forget credit scores. If you're on the ER then lenders will look on you more favourably. It matters not what the CRAs think of you, only what the lenders think.

As an aside, are you sure it's purely an ER issue? What about...

1. Financial associates?
2. Income?
3. Debt/income ratio, ie affordability?

simond224

wow thanks for the quick detailed reply!!... i did read somewere that it can effect you if you are always dipping into your overdraft, at the moment we are so that could be another reason. urgh i owe some1 a cheeky grand you see and just wanted to take the easy way out i suppose and get a loan.