Denied credit, but (fairly) high income, no faults

alanq

One obvious step would be to get statutory reports from all three credit reference agencies and check for errors.

YorkshireBoy

alanq wrote: »

As far as I am aware this is not the case. Why would it be? A prepayment card does not offer any credit...

One (technically) does...

http://www.moneysavingexpert.com/cards/bad-credit-credit-cards#longterm

christ87

alanq wrote: »

One obvious step would be to get statutory reports from all three credit reference agencies and check for errors.

This is what happened to me, my address was correct for experian but equifax couldnt find me - halving my credit score! i am lucky enough to know someone at equifax who was able to solve it for me!

alanq

YorkshireBoy wrote: »

One (technically) does...

http://www.moneysavingexpert.com/cards/bad-credit-credit-cards#longterm

But does that work? Surely other banks would know that it was not really a credit card and treat it accordingly.

My last CRA report contained monthly entries by British Gas. Perhaps switching ones energy supplier would get some CRA entries. I would regard that as more meaningful, and possibly cheaper, than a bogus credit card.

YorkshireBoy

alanq wrote: »

But does that work? Surely other banks would know that it was not really a credit card and treat it accordingly.

According to the article it shows as a 'loan agreement', not a credit card. I suppose it shows other lenders you can manage credit agreements?

I agree it's not 'revolving' credit, as in credit cards and overdraft facilities etc, so maybe lenders would not place too much weight on it...especially when the 'loan agreement' was shown on the report as "12 x £4.95"

Tixy

alanq wrote: »

But does that work? Surely other banks would know that it was not really a credit card and treat it accordingly.

Its only really any use as a last resort for people who can get any other credit card, or any cheaper loan. Yes other lenders will realise that a 1 year loan agreement for just short of £60 is one of these cards, but its still better history than nothing.

As the OP already has a credit card then I wouldn't think it worthwhile in their case.

YorkshireBoy

joehoyle wrote: »

Yearly income after tax: 36,000

I assume you've asked Barclays for an increase in your credit limit?

If they have said no, and you can provide 3 months Barclays statements showing £3K per month going in (better still your 2010/11 P60), I'd be tempted to apply to another bank for a current account and ask them to package a credit card in with it...conditional on opening the current account of course.

Bank Account: Barclays, about 10 years

It's 4 years for the purpose of your credit file...pre-18 doesn't count.

guesswho2000

YorkshireBoy wrote: »

It's 4 years for the purpose of your credit file...pre-18 doesn't count.

Is this the case? My NatWest account states its start date from the day it was opened, I was 16 then...

Of course it would be simple to work out that there were no credit facilities at that point, what with the date of birth and all, but it still reports as that.

koloko

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stevedirtycash

Yer it would be interesting to know what job it was also