Do Aqua and Vanquis cards improve your credit rating?

karolina1

Hello,

Apologies if this question has been asked before but....

Upon checking my credit file on noddle, i was gutted to see they still give me a 1/5 rating as i have defaults against my name. They were put on in December 06 so I am hoping/praying that come the end of the year things will look a bit better.

However, as I know I messed up years ago, I have refrained from getting credit since then and have only applied for a mobile phone contract in recent years.

I constantly hear about aqua and vanquis as ways of imporving your credit rating, but surely if these credit cards show up on your file, future creditors will be able to deduce you had past issues with credit, otherwise why else would you apply for such cards?

Or am I being paranoid? I am terrified to apply for anything for the fear of being rejected, however I know I will be in a position financially to apply for a mortgage next year, and need to make sure that my credit score is healthy enough to be accepted.

Help!

YorkshireBoy

karolina1 wrote: »

...surely if these credit cards show up on your file, future creditors will be able to deduce you had past issues with credit, otherwise why else would you apply for such cards?

Lenders' names are not shown on the report that other lenders see when they search your file.

However, they may deduce that you're not exactly 'prime' from the likely £250 or £500 credit limits shown.

CKhalvashi

YorkshireBoy wrote: »

Lenders' names are not shown on the report that other lenders see when they search your file.

However, they may deduce that you're not exactly 'prime' from the likely £250 or £500 credit limits shown.

However, at the same time, it will show capability of managing a card, whatever the limit.

Yes, they will (re)build your rating slowly.

CK

giblet10

YES YES YES - I moved from Vanquis (fourteen months ago) to now holding LTSB Premium Duo, Metro and Tesco credit cards.