Keep getting refused!

pawsies

I'm a student trying to get a credit rating. I've applied for my own bank (Halifax) credit card- refused. Decided to try some beginner credit cards- namely capital one, granite and aqua. All refused.

How can I get a credit rating? It's really concerning! How do people initially get them?

skintdad

At this stage you only need to run your current account well. No failed direct debits etc. Don't apply for anything else for at least 6 months as multiple applications lower your credit score. You could then try getting a mobile phone contract if you don't already have one

shiny76

Also are you on the electoral roll for your home address?

Gromitt

Ensure you have your current account for several years before attempting to get a credit card. Living at the same address for years is good too.

Have you got a regular bill such as a mobile phone bill? Paying this off every month will look good.

If all else fails, you could always try vanquis, but always setup a DD to pay it off in full every month or you'll get 39.9% APR.

Tixy

Do you work at all / have any income or are you a full time student?
Do you have a student overdraft with halifax? have you managed it well? never exceeded the limit etc?
Did you apply for a student credit card with halifax? or a regular credit card?

If you are a full time student then its very unlikely you'll get any card except for a student card - and you'll only get a student card if you've managed your student bank account and any other credit accounts well.

When you say you are trying to get a credit rating - do you mean you are trying to build up a credit history?

pawsies

skintdad wrote: »

At this stage you only need to run your current account well. No failed direct debits etc. Don't apply for anything else for at least 6 months as multiple applications lower your credit score. You could then try getting a mobile phone contract if you don't already have one

I have never had any failed direct debits. I've been in my overdraft and am just getting out of it but that's been arranged with the bank. I also have a mobile phone contract and that's paid off monthly with no issues.

shiny76 wrote: »

Also are you on the electoral roll for your home address?

Yes I am

Gromitt wrote: »

Ensure you have your current account for several years before attempting to get a credit card. Living at the same address for years is good too.

Have you got a regular bill such as a mobile phone bill? Paying this off every month will look good.

If all else fails, you could always try vanquis, but always setup a DD to pay it off in full every month or you'll get 39.9% APR.

I've had my current account for around 6 years now. It's obviously changed to a student current account in the past 2 years. I recently moved to this address so maybe that's a small factor?
My mobile bill comes out monthly with no issues. I did try vanquis but again didn't get far! grr

Tixy wrote: »

Do you work at all / have any income or are you a full time student?
Do you have a student overdraft with halifax? have you managed it well? never exceeded the limit etc?
Did you apply for a student credit card with halifax? or a regular credit card?

If you are a full time student then its very unlikely you'll get any card except for a student card - and you'll only get a student card if you've managed your student bank account and any other credit accounts well.

When you say you are trying to get a credit rating - do you mean you are trying to build up a credit history?

I have 2 part time jobs atm. I have just come out of my overdraft although this was an arranged overdraft which I didn't exceed. I applied for a student credit card with halifax, no success.
I'm not sure what the difference between a credit rating and credit history are but I know that's what I always get declined on! I think I'm referring to credit history.

Thanks for the advice everyone

skintdad

You won't have built any credit score from your current account until after you turned 18. Its possible that you still aren't as some student accounts don't report to CRAs. Moving house recently would also lower score and even tho you registered to vote at new address it might not be showing yet, it can take a few months to be processed

skintdad

Credit score is decided by lenders when you apply. Your credit history is only a part of it. History of all credit payments made on time or not paid. Whether you have used overdrafts or gone over credit limits etc.