Rebuilding after minor credit problems and time abroad

The_Inertia_Kid

The situation:

I've just moved back to the UK after nearly 6 years abroad. Before I left, I missed a few credit card payments (4 consecutive months, amounting to £260 before it was settled). The last missed month was August 2006. I also had a mobile phone contract that was always paid on time. Both of these were settled and cancelled when I left.

Now I'm back in the UK, I'd like to know the best way to proceed. I'd like to get a credit card, but I'm seeing the late payments from 2006 showing up on my credit report.

I'm under the impression that anything more than 6 years old gets removed from the credit report, and the credit card was cancelled in November 2006.

In the opinions of the learned members of this board, would I be better off waiting until December to apply for a 17% - 20% APR credit card, or going for a 35%ish card now?

bigadaj

Depends on whether you intend carrying a glance on it is suppose.

Also remember that whilst ten adverse credit will drop off your record, you won't have any recent positive history in the last few years for a bank to go on, and in many cases no credit history can be as bad as, or in some cases worse than, poor credit history.

McKneff

I would just wait, not having a cc is not life threatening.

sistafromanothermista

bigadaj wrote: »

Depends on whether you intend carrying a glance on it is suppose.

Also remember that whilst ten adverse credit will drop off your record, you won't have any recent positive history in the last few years for a bank to go on, and in many cases no credit history can be as bad as, or in some cases worse than, poor credit history.

If this is the case would the OP not be better off with a Vanquis card (or similar) to build up a bit of credit history first? They may run the risk of a decline otherwise..

The_Inertia_Kid

I know that having a credit card isn't a life-or-death issue, but I'm finding situations where having a credit card makes things much easier. For example, next weekend I need to rent a van. This is probably going to involve them charging a load of money to my card and cancelling it when I return the van. With a credit card, that money (£1000 probably) is entirely hypothetical, but on my existing debit card, that's actual money.

I'm not planning on carrying any debt on the card at all. I've got by without a credit card for the last 6 years, and managed perfectly well. Banks in the country I was in are very reluctant to give any credit at all to foreigners.

It just seems that there are a few things in the UK (car/van rental, hotels) that are difficult to navigate without a credit card.

Complicating the issue is that I'm about to move house, so I'll have to wait until that's over to get a card... No idea what I'm going to do about the van (needed for moving) next weekend.

zerog

The_Inertia_Kid wrote: »

No idea what I'm going to do about the van (needed for moving) next weekend.

Maybe Zipvan?