How can I get a perfect credit report? 19 year old.

Hunterz1_2

Hi guys, I would like to take out a loan shortly in 12 months time, to fund a website purchase. (I own websites and make money off them)

Basically, I am 19 years old, earn 21k a year. This is what my credit report looks like, The CRA is a bit slow updating but..

Advanced Payment Solutions Limited (cashplus) 4.99 a month credit building = 10 months

Vanquis Bank Limited = 12 months

Nationwide Building Society account = 12 months

Lloyds TSB account = 12 months

HSBC account = 12 months

Barclaycard = 12 months

Capitalone secure card = 11 months

Hutchison 3G UK = 12 months

Hutchison 3G UK = 6 months

Barclays bank = 6 months


Never missed a payment no CCJ/defaults/late payments

Vanquis 500 limit
Cap1 secure 200
Barclaycard 400, then 800 within 4 months
New Llyods TSB avios card 500 limit.

I want to keep getting these 'Green' ticks, the more the better I guess? I want to get rid of vanquis and cap1 though because crap limits, high APR.

Barclays have given me two UC's on the bank account profile.. Is this bad?

Anything else I need to do other than keep paying?

Willing2Learn

Hi,

Lenders like to see stability and you won't have evidence of that until you have had credit accounts active for over a couple of years or so, been with the same employer for a while, same residential address etc etc. Obviously no missed or late payments is good.

They generally don't like to see lot's of accounts opened over a short period of time. They don't want to see applicants/customers using a high ratio of their available credit and also view customers whose available credit represents a high percentage of their income as a potential risk. But they do want to see you using the credit (ie it's no good having a zero statement balance reported to the CRAs every month as it does not indicate you are managing credit, just that you are not using it)

Just keep managing your accounts and don't miss payments and mainstream lenders may accept a loan application.

Make sure you are on the electoral register.

Edit: Not sure what the 'UC' is. Is it in the payment history? Might mean unknown or unclassified in the first two months immediately after account opening due to no available data.

izools

"UC" mean unclassified. It has neither a positive nor negative effect.

A very popular mistake is the belief that more credit history and more green ticks always means better. This isn't the case.

Lenders don't want to see a lot of accounts opened over a short period of time as Willing2Learn rightly says, and they don't want to see accounts opened for a short period of time either (under 6-12 months).

As per my advice on another thread, the best thing you can do is

Nothing.

Don't apply for any new accounts, don't close any existing ones, and continue repaying any credit cards you have in full each month. The APR of Vanquis & Cap One is irrelevant when you repay in full as you won't get charged interest.

Use each card a tiny bit each month so they don't appear dormant, but keep the balances low.

Then, after one year of doing this, you should have no trouble being approved for whatever you apply for (within reason).

Good luck!

dalesrider

Hunterz1 wrote: »

Hi guys, I would like to take out a loan shortly in 12 months time, to fund a website purchase. (I own websites and make money off them)

Anything else I need to do other than keep paying?

Why so many diffrent ones.

Your exposure to debt is large. So get rid of some of them....

As to the website purchase.

Wont that be a buissness loan and not a personal one.

opinions4u

Get on the voters roll.

Pay your bills on time.

Have a stable address and employment history.

Don't over complicate things.