Losing battle with credit score!!!

gchapman

Hi there,
My partner and i have had a few debt issues in the past gathering late payments etc.... Anyway a few years back we went to see a mortgage advisor and he obviously said we need to work at the credit score to become more appealing to lenders. Since then we have been making sure we have no late payments and have closed a few cards where we have paid them off. Last year we moved house (rented still) and I recently wanted to apply for a better card to shift the existing debt for a better rate. I tried to apply and got turned down so did my partner for a separate company.... WHEN will we ever have a good credit rating!!!!!???? Its so frustrating, i've looked at the file and it does show late payments but from over 2 years ago... surely they can't still apply!?!?! We have worked so hard to try and get it clean and still we fail!!! My biggest thought at this time is because we changed address only last year and I know they are not keen on that FOR SOME REASON!?!? Thats so unfair if it is because we want to get a mortgage next year and i bet they will still see us as a risk. Any ideas?? Thanks

taxi73

Hi...if I'm not mistaken bad credit stays on your file for 6 years...but somebody correct me if I'm wrong

exel1966

Yes, that's correct ! Your credit history will cover the past 6 years whether it be good or bad. There is absolutely nothing you can do about that.

A few late payments will not necessarily mean you won't get credit, unless you have CCJ's. There are many things which determine your credit worthiness.

Moving frequently will not help your credit rating as it shows instability to lenders. Another crucial factor when moving is that you must ensure you are put on the electoral role for your new address. Are you ? and were you at your previous address ? This will have a major impact on assessing your application.

Some factors considered when assessing credit applications can include:

Electoral Role information
Employment status
Marital Status
Home owner or rented
Banking history (length of time with current bank)
Children or not
Salary

Those are just a few though.

Do you have up-to-date copies of your credit files ? If not, then you need to get them immediately, check through them and ensure all info shown is correct or not.

ontheup_3

I second every thing excel1966 has said !!

I would also like to offer a little more advice credit companies are very funny things and can be very fickle when it suits them , but the main thing is dont get upset and give up !!! You will get there in the end , as my name says i am "on the up" , when my partner became disabled and we a few other troubles we got into a bit of a mess and we did the same as you worked hard to straighten things out and seemed to get nowhere now i have 3 credit cards and a great credit record ...........

Your time will come , just keep going and when you get there and are straight you'll be happy and proud of yourself

Good luck