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polly_2

we asked for a loan repayment before xmas and were turned down by the bank (Lloyds), when we attempted to find out the reason, we were told we didn't fit the criteria but no-one was able to give me a copy of the criteria, so they blamed our credit rating (both clear) then said the branch had vetoed it, the branch denied it. we still didn't get the holiday, but we have complained and the last letter said our credit scoring was the cause and we needed to check our credit rating (which are both clear) so we are going to complain to the ombudsman. and although we couldn't have a loan holiday the bank increased my husbands credit card limit by £2000. we only wanted to not pay for one month about £450, obviously the credit card has a higher rate of interest.
Polly

joli_3

Help please, i recently applied for a mortgage on an existing property and was told that the money I was asking for would be considerably reduced because I had a lot of credit cards with high credit limits. I started to pay off these cards and cancel them but was then told by one of the companies that this wouldn't look good for my credit rating and any changes could take 3 months or more to come into effect! Please what is the truth here, should I close or not? should I just reduce the credit limit?

Neil_A

I have a CIFAS report registered on my credit report from somone fraudulantly trying to gain a credit card in my name will this effect my ability to get credit or loans in the future/

Neil A

going2die_rich

If you have an account you are going to close, is it better to close the account after asking for an increase in your credit limit or not?

As a higher credit limit will be shown on your account for 3 years (I believe) so it would show you have had a good history of credit on the higher amount compared to showing it on a lower credit amount.

CLAPTON

joli wrote:

Help please, i recently applied for a mortgage on an existing property and was told that the money I was asking for would be considerably reduced because I had a lot of credit cards with high credit limits. I started to pay off these cards and cancel them but was then told by one of the companies that this wouldn't look good for my credit rating and any changes could take 3 months or more to come into effect! Please what is the truth here, should I close or not? should I just reduce the credit limit?

building societies are obviously concerned about your ability to repay so will take into account your other debts. so if you have other debts they will lend you less than otherwise.

your credit limits are not normally taken into account... were your's particularly large?

And no, cancelling credit cards doesn't adversely affect your credit ratings although it's best to keep a couple and use them regularly but pay the full amount off each month.

sheenaf

I tried to get a credit card because I was going touring in Canada and was advised that I would need one. I was refused and solved that problem by being added as a second signatory to my daughter's card. Tried again prior to going on a cruise where on board bill had to be settled via a credit card registered with cruise company on embarkation. Refused again. This time I persuaded my husband to get one, against his better judgement, which he did, with me as second signatory.

Why am I always refused? Apparantly I have NO credit history. Although I have never had credit in my own name we did have a JOINT i.e. in both names mortgage, (never defaulted, now paid off) this has never been credited to me only to my husband. We have a joint current account and savings account too. But apparantly his credit rating is excellent and I have none. Why should this be? God help me if I am ever left on my own. BTW I deal with all our financial affairs, DH wouldn't know where to start.

dalumsden1

Does anyone know exactly how to view the free credit report and such on Experian? I applied, got no confirmation which annoyed me but managed to get in after a while and it says I'll be charged just under £5 for a report. Was there a special link I missed?

CLAPTON

sheenaf wrote:

I tried to get a credit card because I was going touring in Canada and was advised that I would need one. I was refused and solved that problem by being added as a second signatory to my daughter's card. Tried again prior to going on a cruise where on board bill had to be settled via a credit card registered with cruise company on embarkation. Refused again. This time I persuaded my husband to get one, against his better judgement, which he did, with me as second signatory.

Why am I always refused? Apparantly I have NO credit history. Although I have never had credit in my own name we did have a JOINT i.e. in both names mortgage, (never defaulted, now paid off) this has never been credited to me only to my husband. We have a joint current account and savings account too. But apparantly his credit rating is excellent and I have none. Why should this be? God help me if I am ever left on my own. BTW I deal with all our financial affairs, DH wouldn't know where to start.

probably your best bet is to try your bank as you already have a good relationship with them

The_Boss

dalumsden1 wrote:

Does anyone know exactly how to view the free credit report and such on Experian? I applied, got no confirmation which annoyed me but managed to get in after a while and it says I'll be charged just under £5 for a report. Was there a special link I missed?

Was it the online or paper report?

udydudy

sheenaf wrote:

I tried to get a credit card because I was going touring in Canada and was advised that I would need one. I was refused and solved that problem by being added as a second signatory to my daughter's card. Tried again prior to going on a cruise where on board bill had to be settled via a credit card registered with cruise company on embarkation. Refused again. This time I persuaded my husband to get one, against his better judgement, which he did, with me as second signatory.

Why am I always refused? Apparantly I have NO credit history. Although I have never had credit in my own name we did have a JOINT i.e. in both names mortgage, (never defaulted, now paid off) this has never been credited to me only to my husband. We have a joint current account and savings account too. But apparantly his credit rating is excellent and I have none. Why should this be? God help me if I am ever left on my own. BTW I deal with all our financial affairs, DH wouldn't know where to start.

It is a common mistake people make. you may have a joint account but the accounts AFAIK normally appear only in the first holders credit file. The way around this is to open 2 accounts one with your first name and OH as second name. Between me and my OH we have 4 current accounts all joint but with 2 in my first name and 2 in her first name.

That way both our creditfiles are good. Also normally as a rule keep one credit account (phone, utility, credit card or bank account) for as long as possible it helps as it shows a long standing credit status. We both have one bank acocunt and one mobile account for nearly 4+ years