Here's my credit report. Chances of being accepted? 18 years old.

TrueUnitedFan

Hi there, I am 18 years old and I earn 13500 before tax, live at home with parent's and have only pay out 250 a month from my earnings. This was all put down on my application.

I've applied for a barclays intial card over the phone but before the application went ahead, the man said he couldn't tell me straight away if it would be a decline or not. They don't have the facilities or some crap like that to know..

So basically, here is my credit file from experian. What are my chances of being accepted from the report?

Credit History Summary
Number of credit accounts (including those settled)8
Amount of available credit (excluding mortgages) £282
% of your total credit being used (excluding mortgages) 59%
Amount of outstanding debt (excluding mortgages) £458
Number of accounts overdue 0
Number of missed or late repayments in the last year 0

Current account HSBC.
Account Type: Current Account
Started: 10/09/2010
Overdraft Balance: £0
Overdraft Limit: £0

Balance:
£0 £0 £0 £394 £0 £0 £0 £0

(ALL GREEN)

Current account Nationwide
Account Type: Current Account
Started: 14/01/2012
Overdraft Balance: £0
Overdraft Limit: £0

Balance:
£0 £0 £0 £0 £0 £0 £0
(ALL GREEN)


Account Type: (Hutchinsons 3G Communications
Started: 30/07/2012
Current Balance: £0
Credit Limit:£0

One greeen tick.

Cashplus Credit Buliding Loan
Started: 01/03/2012
Current Balance: £34
Payment Terms: £5 x 12 months

Balance:
£34 £39 £44 £49 £54

All Green Ticks


Account Type: Llyods TSB Current Account
Started: 16/01/2012
Overdraft Balance: £6
Overdraft Limit: £0

Balance:
£6 £6 £0 £0 £0 £0 £0
All green ticks

Account Type: Hutchinson 3G Communications
Started: 30/12/2011
Current Balance: £0
Credit Limit: £0

Balance:
£0 £0 £0 £0 £0 £0 £0 £0
All green ticks


Account Type: Vanquis Credit card / Store card
Started: 20/01/2012
Current Balance: £278
Credit Limit: £500

Balance:
£278 £193 £209 £224 £149 £22 £0
All green ticks


Account Type: Capital One secure Credit card / Store card
Started: 02/03/2012
Current Balance: £140
Credit Limit: £200

Balance:
£140 £202 £163 £155 £157 £89
Payment Amount:
£5 £5 £5 £5 £0 £0
Previous Balance:
£167 £160 £160 £89 £0 £0

All green ticks

How does it look?

No missed payments, CCJ'S on electrol roll, but a few searches...

RichL74

Okay I'll go first, it is none of my business and you can tell me so if you like, but why are you wanting another credit card? The Initial you may get from Barclays may only give you a £350-£500 limit which is what you pretty much have on your two existing cards?

TrueUnitedFan

I have no idea really. I just want to build a good credit rating so in the future, say If I need to take out an emergency loan, or obtain credit I won't have any issues.

I know where your coming from though, I've already got two, with crappy small limits. Perhaps I should of just waited a year, closed one of them and apply for another one.

BugsyBrowne

Have you got any misses/late payments from say 2 or 3 years ago as although the CRA's say no missed/late payments in the last year doesn't mean a lender would only search your history back a year.

TrueUnitedFan

BugsyBrowne wrote: »

Have you got any misses/late payments from say 2 or 3 years ago as although the CRA's say no missed/late payments in the last year doesn't mean a lender would only search your history back a year.

Erm nope, I have no credit history from then. I've only taken out credit this year. As I turned 18 in December.

I know every lender is different, but taking into consideration what I've posted and my few searches would be considered negative. Last searches were in feb does it look like an decline?

BugsyBrowne

TrueUnitedFan wrote: »

Erm nope, I have no credit history from then. I've only taken out credit this year. As I turned 18 in December.

I know every lender is different, but taking into consideration what I've posted and my few searches would be considered negative. Last searches were in feb does it look like an decline?

That will teach me not to skip through a post as didn't realise your 18.

[Deleted User]

What your credit rating needs to improve is time. But you'll hamper it further with more searches.

Leave it alone, manage the cards you have now properly and it'll sort itself out.

TrueUnitedFan

Deleted_User wrote: »

What your credit rating needs to improve is time. But you'll hamper it further with more searches.

Leave it alone, manage the cards you have now properly and it'll sort itself out.

I will do now, I just want to put it in the best position possible in order for me to get a loan or something like that case of an emergency.

It'll be years, but I also want to go on the property ladder and I know you need a good chunk of a deposit to get accepted/decent rate the credit rating is also important.

Just trying to do anything I can to put myself in the best position but I think what I've got so far seems fine. Just need a long repayment history for each.

RichL74

Your best position is to kind of carry on how you are now, keep paying the bills, keep those greens on your credit report, try and pay a little more than the minimums off each month and dont worry about plunging yourself any further into debt just yet.

You have your whole life ahead of you (take some advice from an old git who !!!!!! it all up the wall when he was 18..)

RichL74

Can I have a loan to sell my magic beans around the world please?

[Deleted User]

MRS_MARY_HOOK wrote: »

I am Mrs Mary Hook

No. I am Mrs Mary Hook....