Credit rating repair

pool-hustler

I paid off an IVA March 2011 and I need to repair my score.
It's gone from very poor to poor so far.
I've tried for a capital one high interest card just to build the rating but i was refused. This means I can't apply for any cards or loans. I am paying my mobile phone and Mtg on time every month. What else can I do. Any ideas?

[Deleted User]

Aqua or Vanquis?

pool-hustler

even though ive had a rejection already?

[Deleted User]

Worth a try - they specialise in that area of the market. But if Vanquis reject you, I'd stop for a while. Time will help to repair the damage to your credit file.

RichL74

Cashplus Credit Builder?

http://www.mycashplus.co.uk/cashplus-extras/creditbuilder/default.aspx

pool-hustler

RichL74 wrote: »

Cashplus Credit Builder?

http://www.mycashplus.co.uk/cashplus-extras/creditbuilder/default.aspx

I wouldn't have thought this would register on your credit file as credit though?

RichL74

The cash builder part does, you pay £3.95 I think a month to them and they report it to the credit reference agencies as a payment so it goes towards improving your score.

Anthorn

There's the other side of the coin with Cashplus Creditbuilder: If you stop paying it will be reported as a default which will stay on your credit report for 6 years. It can't be cancelled so you're locked into it for a year! I should think that lenders will know about Cashplus Creditbuilder so will know it's not a real credit contract.

I advise going for Vanquis. If they refuse you're unlikely to get a credit card elsewhere. But make that your last application for 6 months to a year even if you get one.

Also get your credit reports at £2 a time so you know what's going on with it.

Simon7685

I would get your credit reports first before applying for anything else. Noddle.co.uk will give you online access free for life. It is the least used of the 3 CRA's but it is free and should show up what you need to know.

I got my first card on the road back from Granite (part of Vanquis), then Aqua, then Capital One. The applications were spaced out over 6 months. However I would only advise trying for Granite or Aqua at the moment and if rejected leave it for a few months.

I had 1 x CCJ (5 1/2 years) and 2 x defaults on my file when I got accepted by Granite. 1 default was 5 1/2 years in and one 4 years in.

16 months on I now also have the Barclaycard Initial and am slowly building a good history back up. All paid in full each month and on time. I am getting my limits increased gradually and hopefully in a few more months I might get one of the mainstream cards to look at me again.

It takes a long time to put the errors of the past behind you but if you have some patience it will happen.

Good luck for your journey!

samtoby

I don't know if this might help but I have found that Very have been a vital part of my credit repair.

I have had an account with them since January and this has helped my score and gain more credit.

Samantha

BugsyBrowne

samtoby wrote: »

I don't know if this might help but I have found that Very have been a vital part of my credit repair.

I have had an account with them since January and this has helped my score and gain more credit.

Samantha

Helped your score lol