Your Credit Rating: How it works and How to improve it Discussion Area

muni50

Hi everyone,

I was going to send the template letters to the credit agencies as described in Martin's article. However, I don't really remember exactly the dates and the addresses of where I have lived, especially when I was a student (2 years ago). Why is it we need to tell them our addresses and dates? Wouldn't it be better to wait and receive their reports and then if there are any mistakes, let them know?

Also, since I am a foreign national working using a work permit, what should I send them as proof tat I cannot be registered in the electoral role? Photocopy of my passport?

Thanks.

PD: Out of general interest, how do these people know when we have moved houses?? Is it only if we tell the council/ police? From bank information? (i.e. change of billing addresses). What stops anyone from saying they have been living in their parents address all their lives- -how do they find out?

dlevene

I didn't get a Visa Debit card with the Nationwide FlexAccount, I got a Cirrus cashcard. The only problem is that the whole things for my trip to Australia, where they always charge for withdrawals, but with the Debit card I could get cashback charge-free.

So, I'm 18, I've had numerous debit cards and accounts that I've used responsibly, and I've recently become an additional cardholder on a (Nationwide) credit card. My lack of proper credit history is presumably why I was turned down for the Visa card (which is still ridiculous: the only risk of giving me that card is the cheque guarantee element - so just don't give me cheques!). I was told that I could re-apply for it in 6 months, but I'm going away in August.

But I was thinking, if I used this FlexAccount to pay off the £700ish I'm going to be spending on my credit card for the trip, and then apply in 3 and a half months, will I be able to get the upgrade?

As a final small point, I'm worried that calling up and asking this will have a negative impact on my rating. Is this silly?

Many many many thanks!

techno_geek

dlevene wrote: »

I didn't get a Visa Debit card with the Nationwide FlexAccount, I got a Cirrus cashcard. The only problem is that the whole things for my trip to Australia, where they always charge for withdrawals, but with the Debit card I could get cashback charge-free.

So, I'm 18, I've had numerous debit cards and accounts that I've used responsibly, and I've recently become an additional cardholder on a (Nationwide) credit card. My lack of proper credit history is presumably why I was turned down for the Visa card (which is still ridiculous: the only risk of giving me that card is the cheque guarantee element - so just don't give me cheques!). I was told that I could re-apply for it in 6 months, but I'm going away in August.

But I was thinking, if I used this FlexAccount to pay off the £700ish I'm going to be spending on my credit card for the trip, and then apply in 3 and a half months, will I be able to get the upgrade?

As a final small point, I'm worried that calling up and asking this will have a negative impact on my rating. Is this silly?

Many many many thanks!

Making another request should be fine... are you employed at all? If you get rejected again then ask for an underwriter to reconsider the application.

dlevene

Thanks for that.

I'm in full time education and yes I do have a part-time job. I've been with them for over a year but might be leaving and going elsewhere next month.

tasty_snacks

i have an old 3 mobile contract listed on both the experian and equifax files, which i stupidly agreed to over the phone, but in the end didn't use once. after 3 months they cancelled the contract, which was fine by me!

having received my credit reports, the 3 account shows as S3333 on the equifax report, with a start date of 24/06/04 and an end date of 10/3/05. using their guide this translates as the account being 3 months in arrears, but now being settled/satisfied. meanwhile the experian report lists it as being last updated in march 2005, with similar status history and a balance of £115.

what would be the best way forward here? i'd like to improve the reports, but i think that the £115 must have been written off by 3 in march 2005, therefore paying if off would be of no benefit. is it just a case of it sitting there for another 4 years before falling off?

has anyone else been in a similar scenario?

tmobile-r-soles

I got my report and there was a default from T-Mobile, I paid the default and sent a £1 cheque for a copy of the CCA 1974, copy of the agreement and assignation of the default.

T-Mobile sent me a CURRENT copy of their terms and conditions, no debt details and that they are NOT bound by the CCA.

I reported this to Experian and experian have done Sh8te all about it apoart from take my money. I have now complained to the Financial Ombudsman as I have:

1. A default
2. No Agreement for this default
3. The supplier stating they are not bound by the CCA thus they did not serve a default.
4. A complaint with the Ombudsman

To make matters worse T-Mobile have registered the default at an address that I have never lived at.

So if you have a default then:

1. Write to the company, with a cheque for £1 and request:

Debt details.
Copy of the agreement WITH your SIGNATURE
Default under the CCA 1974 (How were you bound to this agreement)

This must be supplied in 28 days.

Thereafter

The copy bills

Then the charges

If its T-Mobile, then the Ombudsman, and finally a lawyer :money:

tmobile-r-soles

tasty_snacks wrote: »

is it just a case of it sitting there for another 4 years before falling off?

has anyone else been in a similar scenario?

Write to them, include a copyof the report offer to pay the amount if they remove the record. If not then:

Cheque for £1

Ask for:

Your copy of the credit agreement
Any assignation of the debt
Copy of any letters sent to you (Letters need only be sent not recieved)

All tis must be done in 28 days.

Most companies just take the cash and remove the record:money:

dhassen

Hi,

I've been living where I am now for the past 10 months, I'm on the electoral roll, I even voted! However, according to equifax, (got them to send my file) there isn't any electoral roll info since 2003 and according to my bank's own credit search software (was applying for a loan) my address doesn't exist and I'm definately NOT on the electoral roll at the address. It's a new flat in a new building and we had loads of trouble with companies not being able to find the postcode when we first moved in. Thought it was OK now but it's obviously not! any ideas on how this can be sorted as I assume if my address can't be verified, I won't get anywhere with credit?

SidewaysFast

Hi all, first post here so i'm sorry if i'm jumping in on someone elses thread, but i'm struggling to find my way around!

Anyways, i hope someone can help as i'm worried about the fact that the previous owners of the house we own haven't changed the address on any of their bills. Consequently, we ended up knee deep in letters from debt collectors, banks, building societies etc etc. We gave the debt collectors the new address of the people they were looking for but the banks will not accept the details we're offering. Apparently, the account holder must change their details because of Data Protection and all that. Anyways, the previous owners are heavily in debt and all their standing orders etc bounce as they've no money to pay anything. I suspect this is seriously affecting our Credit Rating but i'm sure you guys will know to what extent, if indeed it does at all?

Many thanks in advance, you lovely people!

Neil

peggy_smith

I have a similar query (ish). My son is in dispute with his bank and they threatened to blacklist our address and destroy my husband & my credit rating. I don't think they can do this, can they?