Bad credit rating.

Sammyboy

Didnt know where to put this. I intend to move out of my home at some point in the next 3 to 4 years, and I will need to be debt free. I have thought a lot about this and wanted to consolidate. I was refused, so I checked experian.

My credit rating is poor, 709 out of 1000. What can I do to sort this out? I have no payments owing, I have no missed payments, I also am on the electoral roll. I think the killer was my applying far too many times in a year. Now how long do I leave this before my credit rating will step up again? It should be situated at excellent as it is with equifax.

I am linked to my father, however I do beleive he has good financial situation, and he is not currently involved in any of my payments!

Help!!

tom188

Applications stay on file for 12 months

The "score" you quote is completely meaningless. It is not used by lenders themselves, and is just an instrument used by experian to make you part with your cash. it is no more than a very crude estimate that you could come up with yourself based on your current situation.

if you do want to consolidate, and before you do i suggest you ask for advice on the debt free wannabe board and post your statement affairs on there, you should wait a while before applying. making too many applications will harm your chances of obtaining credit, but in six months time these applications will seem less important to the bank/loan firm.