rebuilding credit

olivia84

hi there,

i have awful credit due to various defaults, one decree (ccj) and general late payments and non payments etc.

we recently sold our car and paid off alot of our debts, many of them were 'settled with partial payment' or 'settled as full and final payment'

i have had a vanquis credit card and a capital one credit card which were paid off and as far as i know are marked on my file as partially settled but the companies have written to me advising me they will not be pursuing me for the remainder.

i know it's early days (i only paid off these debts at the end of march) but i would really like to start thinking about rebuilding my credit. barclaycard have understandably declined me for their bad credit credit card, and i have already had a vanquis and capital one card.

does anyone know if i can apply for these cards again or am i kinda scrubbed with them because of my old accounts (i imagine i would be) does anyone know of any others i could apply for?

i would like a credit card again purely for rebuilding my credit as i would like to think about moving house in a few years. i have a contract mobile phone, mortgage and catalogue which i hope will help me, i am also on the voters roll etc.

would leaving it 6 months to a year help or have i burned my bridges with vanquis and capital one?

thanks for any replies

olivia x

olivia84

sorry for the bump x

Tixy

Hi

Vanquis and cap 1 will both give credit cards to people who have previously had bad debts with them, even to people who have previously gone bankrupt owing money to them. So you haven't ruled them out forever, but are probably unlikely to get one from them for maybe a couple of years.

That said if you already have a mortgage and 2 other credit accounts and if you continue to pay all of those of time then getting a new card shouldn't be necesary or make much difference.

You'll only really start to make much difference to your file once the defaults and decree drop off.

olivia84

thanks for that tixy, i don't know why i was so keen to get a credit card to help my file! i suppose it's always a credit card that's advised by martin etc when they are giving advice on rebuilding your credit - so i just assumed that this was the best way! but as you say, hopefully my mortage, mobile and catalogue will do just as good a job. i may try capital one in a couple of years to see how i'm fixed then.

many thanks x