Credit report confusion and credit rejection

macs1981

Hi,

I have recently signed up to experian as I have been declined credit recently. My report shows that i have 1 negative factor effecting my account - from 2004-2007 when I defaulted on a Credit Card on 8 occasions (stupidity at 18/19/20 years old!). It was SATISFIED in 2008 (i paid it off - a grand total of about £280) and it is still showing as DEFAULT on my credit report and showing in RED. I understand that details will remain on file for 6 years (2014) however my partner seems to think that as its still flagging a negative factor something isnt right, especially as the account was satisfied. Any ideas if this is correct or if there is a problem?

Also i have 2 other red explanation marks in my credit report (but it doesnt specifically state that they are causing negative factors) one is within the electoral roll info (!?! i am baffled by this) and another is in 'Previous Searches' again - it doesnt state why this is flagged up.

I applied for credit yesterday to pay for a new bed and it was declined - which makes me worry as i wanted to apply for a mortgage soon, and now i am really concerned about where the problem lies...

Any advice would be greatfully received.

Thanks.

jen245

Doesn't matter whether the default is satisfied or not, it still shows up on your credit report for 6 years, and will pretty much scupper any chance of you getting credit until it drops off. Are you on the electoral roll? If not, that's why its flagging it up as a negative, and how many other searches are there on your report? Too many searches in a short space of time looks like you are desperate for credit, and will put lenders off

MoneySaverLog

The satisified default is the cause though, regardless of searches etc. You're right about it scuppering any chance of getting any credit whilst that it there. Satisified or not.