Credit score bands.

Mrs_pbradley936

dizzy_blonde wrote: »

Roughly how long does it take to rebuild a poor credit history? For example, if mine was poor at 200 (no idea what mine is, but I'm just giving an example), how long would it take to build it to excellent?

That will depend on your own circumstances. My score is 999 BUT my children are grown up, my house is paid for (I do have a mortgage on it but for business reasons and have assets worth more than the outstanding amount), I pay my credit card bill in full every month. Was I always so disciplined? No of course not when we were young we went through the stage of having to find the money for the mortgage, the bills, new shoes for the children and so on. As you get older the children fend for themselves, older relatives pop off and leave you something, you pension pot mounts up and any property you own appreciates in value.

thesaint

dizzy_blonde wrote: »

Roughly how long does it take to rebuild a poor credit history? For example, if mine was poor at 200 (no idea what mine is, but I'm just giving an example), how long would it take to build it to excellent?

It depends why it's poor.

If it's CCJ's/defaults it takes longer than simply not being on the electoral role.

It makes sense to pay £2 for a copy of your credit report and having a look.
Put your self in the position of judging whether you would lend money to the person mentioned on the report, and what would make you look at it more favourably.

pitbullpeebs

pitbullpeebs wrote: »

I have written a letter to them and sent it off, I will keep you posted

I got my credit score from Experian and it was 805 (with 1000 being the highest) and they are saying it is fair!!!

I got my new Tesco Credit Card through this morning, so writing the letter definitely helped!!!!

thesaint

pitbullpeebs wrote: »

I got my new Tesco Credit Card through this morning, so writing the letter definitely helped!!!!

Well done, it goes to show that writing a decent letter can sway a lender just as easy (and cheaper) than sending in a credit 'score'.