help please- credit rebuilding

tenbob84

I've just managed to get my experian score up to the poor category after some notable balls ups in my younger days and would like a little advice on getting it higher.

this is what i have on my report and how long ive had it

barclays- default- 26/5/2006

cl finance (bought off barclays)- default 15/8/2006

vanquis CC - paid off in full every month for 8 months now with a credit limit increase after the first 4

very.co.uk catalogue, 5 months old, i make small purchases a pay min payment

natwest current account- opened seven months ago i pay a little money in every month

k and co catalogue, opened for five months, used the same as the very one to keep the green ticks coming

aqua card opened one month ago, agin for cred rebuilding and paid every month in full

ok my question is, will i be better off keeping all of these or closing down a few or will it make no difference either way?

experrian tells me the following when i log in

negative...


You have recently opened 1 or more new credit accounts.


The age of your accounts indicates lenders are likely to view you as higher risk


You have an account regarded as defaulted or delinquent


You have revolving credit that has been open for less than 10 months.

positive...

The usage of your available credit indicates a lower risk


The balance of your unsecured lending indicates a lower risk


You have a significant amount of successfully settled non-mail order accounts


thanks for reading my waffle, any advice greatly accepted.

paulmapp8306

Close the very account down - or at least pay it off in full. Any line of credit that isnt completely cleared each month will be seen as negative by lenders (if not by experian themselves). ditto the K&Co Catalogue. Using these lines of credit (as with credit cards) is good for credit building as long as the total ballance is payed off every month.

by the end of Aug, both Barclays and CI Financial debts will drop off you history (at the 6 year point) which will massively help.

Make sure your on the Electoral roll if you arnt - you dont say - as that also helps a lot.

Dont take any further lines of credit for at least at least 7 months (so a year since the two catalogue accoutns, and at least 6 months from the Aqua one).

Personally I feel a Bank account, two credit cards amd a store account is plenty of "credit" if they are used but paid off monthly. Suppliment that with a mobile phone contract, and you'd be in pretty decent shape in 7 months or so.