Credit card to rebuild credit score

fergyxx

I have just been declined a personal loan from my local credit union.

I have had one or two problems recently regarding some missed payments, which I have made arrangements to bring these up-to-date.

I have read up on applying for credit cards from the likes of vanquis/aqua/capital one etc and using them to re-build your credit score.

My question is, how soon can I apply for one of these? Are they likely to consider me if I have any defaults on my credit file? or is there a general consensus as to how long you should wait to apply.

I don't want to affect my credit rating any more than I already have, as it could ultimately affect my job.

YorkshireBoy

If you have existing lines of credit being reported to the CRAs I don't see how yet another line of credit will improve your credit rating.

What am I missing?

fergyxx

YorkshireBoy wrote: »

If you have existing lines of credit being reported to the CRAs I don't see how yet another line of credit will improve your credit rating.

What am I missing?

By using it, even for one small purchase, and paying off the balance in full every month, apparently this helps towards re-building your credit score - or so I have read anyhow.