Building up credit rating

chergar

I am looking to build up my credit rating and get myself all sorted out. Having checked my experian and 'checkmyfile' reports I show as having all zeros - no credit, no outstanding accounts, all the items are zero, I have a few searches showing, one for opening a bank account, one from my insurance company (car & home) and one from a catalogue that I applied for to try and boost my credit worthiness and one from capital one but I was declined as I didn't have my owb bank account set up. I only opened my bank account this month.

What would I be best applying for next, would any cc company offer me anything with a record like that? Doesn't have to be a cc, I am just looking to have a good track record with my credit for when I apply for a joint mortgage with dh in a few years.

I have had some credit problems in the past (7+ years ago) so none of this is showing.

Any and all help appreciated thanks.

Tixy

Are you on the electoral roll and does this show on your credit file?

I assume you mean you have no credit accounts visible at all? Did the catalogue company decline you as well as cap1?

Does your bank account have an overdraft?

Which of the searches show as credit application searches (not quotations/soft searches etc). How many of these have you had in the last few months? If its more than 3/4 then that alone will start to cause an issue as you look desperate for credit. If you have more than that then best to leave it a few months before trying any more applications.

The cards that are easiest to be accepted for are vanquis or the captial one secured card. If you can't get either of those then you may need to consider one of the last resort prepaid cards - which cost £5 a month but will report to your credit file as a satisfied loan after a year.

Have a read of this article - Credit Rating: How it works and how to improve it
and this 'Bad Credit' Credit Cards: Best cards for poor credit scorers

chergar

The catalogue went through okay and I have an account with £750 spending on it, I haven't used it yet.
I am on the electoral roll, My bank doesn't offer an o/d as I applied for the cashminder card,

The credit searches shown are one for the catalogue, one for insurance and one for the cc, all this month.

Hunterz1_2

chergar wrote: »

The catalogue went through okay and I have an account with £750 spending on it, I haven't used it yet.
I am on the electoral roll, My bank doesn't offer an o/d as I applied for the cashminder card,

The credit searches shown are one for the catalogue, one for insurance and one for the cc, all this month.

strange, got accepted for vanquis, and i think i will be accepted for cap1 secure card. Appiled for catalouge but rejected.

what catalogue account do you have if you don't mind?

thanks

steve1980

Hunterz1 wrote: »

strange, got accepted for vanquis, and i think i will be accepted for cap1 secure card. Appiled for catalouge but rejected.

what catalogue account do you have if you don't mind?

thanks

Everyone gets accepted for Vanquis!

skintdad

you probably won't get any green zeros (or ticks) on your credit reports until you have actually ordered something from the catalogue, waited for the statement and made a payment

chergar

Hunterz1 wrote: »

strange, got accepted for vanquis, and i think i will be accepted for cap1 secure card. Appiled for catalouge but rejected.

what catalogue account do you have if you don't mind?

thanks

it was a Very account

robyn1991_2

steve1980 wrote: »

Everyone gets accepted for Vanquis!

I didn't! See my thread...

steve1980

robyn1991 wrote: »

I didn't! See my thread...

I have.....and replied.

chergar

Just to update this thread, I applied for a Vanquis card and was accepted, apr quite high (I may be wrong as he was talking quite fast but thought he said 59.9%apr, could this be right?). I also set up a whole of bill direct debit so I don't get stung for the interest charges, but will only be using the card for little purchases that I would have paid for on normal bank card anyway. I am not sure what my credit limit will be as the guy said it will all be included in my welcome pack.

I won't be applying for anything else for a while now as I have a few searches on file and want to build up my 'green ticks' with this card and hopefully later on in the year I can apply for a better card, although is there much point, is a card a card when you aren't bothered about the interest?

Tremour-88

steve1980 wrote: »

Everyone gets accepted for Vanquis!

My MIL didn't lol, had to pay £99 deposit for a Capital One classic (her history is horrid)