Credit check query and how to improve it

gino_76ph

Hi there!

Me and my wife are looking for a new place to move to. We are looking for a flat to rent. But I have worries that me or my wife might have a low credit rating before we get approved.

I want to ask wether having a debit card and paying off debts or bills properly and in time ( anything from a phone or electric bill, etc.), having money in a main bank account every month via work salary, having a credit card, having a permanent job (for the NHS) be factors in having a good credit rating?


Please advice. Thanks.

stephane_2

Unless you've got some very bad debts which does not seems to be your case then you should not have any problems at all....I would not worry.

gino_76ph

My worry is my wife. She has no credit card. She has a debit card where her salary goes every month but I think her main fear is that last year when she tried getting a mobile she failed her credit score hence I had to get the phone and paying them bills every month.

On my side I have both a debit card and a credit card from Nationwide and I try my best to avoid "using" my overdraft limit. So far my credit rating I think is fine because every time I get/renew my mobile or get a financing for say a laptop I always pass.

We both work permanently, pay off our bills via our debit cards like phone/broadband, electric, mobile, council tax, etc.

But there is still this worry.

Is it worth just paying bills with our debit cards? Is it worth holding off our move till the autumn till we build up our credit score but paying bills via debit cards only?

jason1231972

For the purposes of renting a property in the private sector, I believe you're not generally credit 'scored' as such, but are just screened for any real credit nasties, like CCJs, bankruptcy, IVAs, and so on. Defaults (late/missed payments that have been reported by the product provider to the credit reference agencies) may be taken into account by some agents, but others won't care.

The fact that your wife was refused a mobile phone contract may have just been one of those things. I was refused a contract with '3' about a year ago. As far as I'm aware (and I check), I have had a well-managed spread of loans, credit cards, store cards, overdrafts and so on over the past 2 decades, with never a payment missed.

Matter of fact, '3' didn't even credit check me (I checked with Experian, Equifax and Callcredit and to this day, there's no record of any search from 3, or any search at all during the period - September 2011 - when I applied). They just sent me a text message a few minutes after walking out of their store to go shopping elsewhere whilst they 'processed' my application, informing me I wasn't successfuly. But that's another story!

If neither of you have any serious missed payments or any public records (CCJs, etc.), you should be fine to rent in the private sector, assuming you can afford it.

chanz4

Estate agents cant view defaults, only ccj's and iva / bankrupcy. In simple terms public data

jonesMUFCforever

Estate agents can ask your permission to 'credit score' you - they would get the same details as if you had contacted the CRA's yourself.

gino_76ph

Well, for one we don't have any kind of criminal records whatsoever. If we had a "court order" that is to pay off a specific amount of money that has been paid already long time ago.

But I have more questions though:

1. Does having a credit card necessarily mean it will heighten your credit score?

Where we currently live is a hospital accommodation. But there were many who lived here previously and we sometimes get this letters saying that the address owed them money, etc.

So...

2. Will this affect our credit score?

We both work permanently in the public sector.

Sorry to ask this (again) but if one has been paying say an electric bill or telephone/broadband bill under our name and bank account would it also help our (me and my wife) credit score?

SCO

gino_76ph wrote: »

Well, for one we don't have any kind of criminal records whatsoever. If we had a "court order" that is to pay off a specific amount of money that has been paid already long time ago.

How long ago was the court order paid off?

But I have more questions though:

1. Does having a credit card necessarily mean it will heighten your credit score?

Yes it shows you can handle credit, remember use for daily spending and pay off in FULL each month

Where we currently live is a hospital accommodation. But there were many who lived here previously and we sometimes get this letters saying that the address owed them money, etc.

Possibly could casue problems, but technically should not due to the fact they are no meant to blacklist an address.

2. Will this affect our credit score?

We both work permanently in the public sector.

Sorry to ask this (again) but if one has been paying say an electric bill or telephone/broadband bill under our name and bank account would it also help our (me and my wife) credit score?

Not as much as credit cards and loans etc. Depends on wheather the companys you use report to credit agencys, i think 02 doesent if you account is run good.

gino_76ph

The court order payment was paid off roughly 5-6 years ago. everything was settled, done and dusted.

So far my wife's savings on her main account (the one which she has a debit card with) is fine and hasn't been using an overdraft.

so, you think it is safe if i put me & my wife's name for the property for a credit check and you think there is a good chance that (based on the circumstances i have presented here) we will pass the check?

MCGONIS

gino_76ph wrote: »

The court order payment was paid off roughly 5-6 years ago. everything was settled, done and dusted.

So far my wife's savings on her main account (the one which she has a debit card with) is fine and hasn't been using an overdraft.

so, you think it is safe if i put me & my wife's name for the property for a credit check and you think there is a good chance that (based on the circumstances i have presented here) we will pass the check?

Hello.

If you have time, send to Experian for a copy of your credit report. They seem to be the one that hold the most accurate information. From my experience anyway.

You could sign up for their free trial and view the report straight away, then cancel the trial. Not sure if that helps any. Sorry it is not answering your question directly. Good luck though.

gino_76ph

I'll try that. but by the meantime based on the circumstances i have presented here is there a possibility my wife's credit check will still be fine?