Next Step

Cherryjack

Hi there, i just wanted to mention that you would be better to get a credit card than store card.. atleast then you wont be needing purchases you dont need.. but can use it for a one off small food shopping purchase.. put the money to one side and then pay it off in full that month. So say you get a low limit of 200.00 dont spend more on it than 60.00.. hope that helps.. i just got accepted for a capital one card.. high interest but will be paid off in full so no problem

flagday1974

Hi all, once again thank you for your replies, i today applied for a Burtons store card and was turned down, am i just best to leave things now and just stay debt free or are there other routes i should go down? I dont need my rating to go up for anything in particular i just want things sorted and to start getting it back on track.
Cheers.

JustinCredibleGillespie

You should go for one of the subprime credit cards to start you off, Maybe a Vanquis or an Aqua. The interest is quite high if you don't clear the card in full every month but you will start seeing the green ticks

All the Best

JCG

xx

cottonhead

I would just wait and carry on as you are. Part of getting a good credit score is the amount of time you have been managing your money well - hence why defaults stay on for millions of years....... Personally I would avoid getting a store card just in case you accidently mess up. What if you forget a payment or something else crops up and you miss one - you will be causing more damage again. A basic credit card might be an option but again be really careful. I got a capital one card ( please dont - they are rubbish ) and the balance was just £100 max. I was late with a payment and got hit with a defualt fee... then the interest got added..... then so on and so on and I ended up repaying £200 !! I have now closed it - yeah !! Also dont ever do a oayday loan. They say it helps your credit if you pay it off but actually future lenders and banks will see it and be suspicious of why you had to use one.
My bank told me that avoiding bank charges - (dont go overdrawn or let items go unpaid) is helpful as is having active direct debits so set some up if you dont already have them. Well done on ditching the debt though !

flagday1974

Thanks all, i already have a couple of direct debits all of which i manage without flaw, as said before i have got the cashplus credit builder card of which i have almost finished (only 2 payments left off the original £50 credit builder loan deal) and they have emailed saying i can have a £250 overdraft facility but i dont need the overdraft so id pointless i think.. If i didnt get a burtons store card i see it highly unlikely i'll get a vanquish or aqua card tbh.

As said before i have a credit score of 656 'poor' from experian, and have now looked at equifax where it is 399 'fair',

Should i start a direct debit up for my mobile phone? at the minute i pay on the over the phone automated service or on-line. again without missing/late payments..

would it look better going out of my bank?

thanks

flagday1974

Because of the store card application my experian score has gone from 656 down to 610!!! :eek:

joedenise

I think it would be a good idea to set your mobile up as a Direct Debit, this will guarantee that you don't ever pay it late, however you must ensure you have the money in the bank for it to be collected on time or you will incur charges and late fees.

Denise