We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
What do LA's consider a bad credit history?
meeshpeesh
Posts: 293 Forumite
Me, my boyfriend and his two friends are planning on renting a 3 bedroom flat together in a couple of months.
My dad has told me they are likely to conduct a credit check. I know that mine isn't in a great state at the moment but it's mostly to do with being rejected for a credit cards.
I've not gone overdrawn in years, have always paid bills on time, and have now fully paid off my credit card.
The only debt I have left is my student overdraft, which is interest free (for the moment) and I should have it in the black in a couple of months with regular payments.
My boyfriend has never had a credit card, so I'm not sure whether he will even have a credit history at all, and I'm unsure about the others.
So I guess my question is what are they looking for when they check it? Do they just look at the score which includes application rejections or just the relevant stuff like repayments and the current debt?
nb. when I was applying for cards I was on a low income, which is why I was rejected, had I known at the time that it would have effected my credit history I wouldn't have bothered!
My dad has told me they are likely to conduct a credit check. I know that mine isn't in a great state at the moment but it's mostly to do with being rejected for a credit cards.
I've not gone overdrawn in years, have always paid bills on time, and have now fully paid off my credit card.
The only debt I have left is my student overdraft, which is interest free (for the moment) and I should have it in the black in a couple of months with regular payments.
My boyfriend has never had a credit card, so I'm not sure whether he will even have a credit history at all, and I'm unsure about the others.
So I guess my question is what are they looking for when they check it? Do they just look at the score which includes application rejections or just the relevant stuff like repayments and the current debt?
nb. when I was applying for cards I was on a low income, which is why I was rejected, had I known at the time that it would have effected my credit history I wouldn't have bothered!
0
Comments
-
Student loans can be ignored.
With your boyfriend, does he have things like an overdraft or a debit card with an "extras" account? If so then these are all credit checked and therefore creating history.Estate Agent, Web Designer & All Round Geek!0 -
He doesn't have any overdrafts, he definitely has debit accounts and a savings account. He's really good with his money and has no debt apart from his student loans, which, as you said, won't matter 0
-
What will be visible on a credit-check is defaults and CCJs. Agents and landlords can't see all of the details which a bank or lender might. The credit-check won't be done in isolation as they will probably be interested in seeing proof of earnings and might even ask to see bank statements, most especially if the prospective tenants are quite young, so expect some pretty intrusive enquiries.
If you're thinking of renting a large property together has anyone explained the potential liabilities in a "joint and several" tenancy to you?0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.2K Banking & Borrowing
- 253.6K Reduce Debt & Boost Income
- 454.3K Spending & Discounts
- 245.2K Work, Benefits & Business
- 600.9K Mortgages, Homes & Bills
- 177.5K Life & Family
- 259K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards