Credit rating?

bcc212_2

Hi guys, really sorry if this is in the wrong section but I couldn't find another forum topic that catered.

I have a problem, or I am wondering why I am being refused credit.

I recently went to purchase a ring, I paid half and wanted the rest on finance. My reasoning? Well I have the money in the bank which is earning interest, can afford the monthly payments and most of all, it was 0%. Long story short, I got declined.

Now I haven't had anything declined in the last 2-3 years so was wondering why this has happened? I have my own reasoning but am unsure if this would 100% be the reason for it.

Monthly Income of £1400

I bank with Lloyds TSB. I have an overdraft of £1100. I have probably been in it once or twice in 2 years. Only by £5-10 for 1 day max.

I also have a couple of dormant Current Accounts. Well a few actually:

1 x Natwest current and 2 x savings.
1 x Halifax current
Possibly a HSBC account, but that isn't recorded on my Credit Report.

These accounts are not in use.

So the things I have on credit already are:

- 2 x credit cards, one is Lloyds TSB and has £200, the other is Capital One and has about £30 on.

I pay just over minimum on the Lloyds Card as it was a 0% balance transfer.

The Capital One card is recent and will be paid off end of the month.

- Sofa on 0% with DFS - £30 a month from January.

- Littlewoods account - around £200 balance, £60 odd paid monthly.

- Orange Mobile Phone contract - £20 a month, ends next month.

- Tesco Mobile Phone contract- £35 a month until June.

- Car Insurance - £40 a month.

- Next account - £40 balance.

I have never missed a payment, nor do I have late payments marked on my credit report.

I also pay Rent monthly, Council Tax and Utilities - Never missed a payment, always in date.

I have lived in this property for 7 months, all debts are in this address name and I am on the electoral roll.

I also had a default in 2007 which hasn't really hindered me until now.

Bit of a pain in the !!!! as I'm looking for a great 0% Card but assume I'll get knocked back again.

So what I am planning to do is to pay off every debt I have and start spending on the cards and paying them off in full? is this a good viable credit building scheme or will it not pay off?

Thanks in advance.

bcc212_2

Bump bump bump

sistafromanothermista

:wave: Have you ordered your reports from all 3 CRA's?