Rebuilding Credit Score

grangers72

I went BR in November 2009 and was discharged 12 months later.

I have done my credit clean up, I am now looking to rebuild my credit rating.

I guess the best way to go about this is by obtaining a Vanquish card? Are there any pitfalls to this card? I have my business mileage paid for, so I am going to use the card for business journeys, then at the end of the month when I am recompensed pay off the balance.

Are there any other ways to build up my rating or any other advice you guys may have for me regarding this.

Thanks in advance

lala9

A mobile phone contract maybe?

grangers72

I had a mobile phone contract until June, bu cancelled it as I now have a works phone.

obcomp

Get a Flybe or Vanquis card. I use the Flybe for personal use and the Vanquis for business purposes. Both cards were initially £500 limits but have been increased to £1850 and £1750 ... not that I need and both cards are paid in full each month.

If you don't have a mobile contract, you'll be better off with some sort of credit history rather than none at all. No pitfalls, just make sure you make the monthly payment by DD so you can't miss it!!

Doesn't really matter about the interest rate if you don't intend on leaving a balance.

obcomp

Silky89 wrote: »

There is absolutely no chance of them being accepted for a Flybe credit card.

That's a strong statement! I was accepted for a Flybe card 10 months after I was discharged .... I was accepted for a Vanquis card 18 months later.