best card to rebuild your credit rating?

March2012

thanks in advance.

InsideInsurance

It doesnt matter who the card is with. The APR is visible to other lenders so if you can get a prime card rather than sub prime (ie less than 20% APR) then it is best but if you are needing to build your credit then that may be unlikely unless your problem is simply lack of history

March2012

then that may be unlikely unless your problem is simply lack of history

InsideInsurance wrote: »

It doesnt matter who the card is with. The APR is visible to other lenders so if you can get a prime card rather than sub prime (ie less than 20% APR) then it is best but if you are needing to build your credit then that may be unlikely unless your problem is simply lack of history

UsetheFORCE

InsideInsurance wrote: »

It doesnt matter who the card is with. The APR is visible to other lenders so if you can get a prime card rather than sub prime (ie less than 20% APR) then it is best but if you are needing to build your credit then that may be unlikely unless your problem is simply lack of history

The APR is visible to other lenders???? Even the name of the lender isn't visible to other lenders!!!

InsideInsurance

March2012 wrote: »

then that may be unlikely unless your problem is simply lack of history

Then you have the option of your own bank who will have more history for you than any others

InsideInsurance

UsetheFORCE wrote: »

The APR is visible to other lenders???? Even the name of the lender isn't visible to other lenders!!!

I believe it is, hence how lenders can be prejudiced by people who have used payday loans and equiv

UsetheFORCE

InsideInsurance wrote: »

I believe it is, hence how lenders can be prejudiced by people who have used payday loans and equiv

Payday loans can be worked out by the account type being listed as 'ADVANCE AGAINST INCOME' or similar wording.. also the length of loan term if listed..

UsetheFORCE

Brave new world
Lenders that use the Experian credit reference agency to help assess a client’s ability to repay their loan have been able to tell whether a borrower has taken a payday loan since the early part of 2012 from their credit report.

Previously, it just listed the debt as a loan without differentiating it from other types.

It wasn’t as though mortgage lenders could guess that it was a payday loan from the name of the lender as names were, and still are, withheld.

The Callcredit agency says lenders that use its database have been able to view the same information for a number of years, though Callcredit is a distant third to the two giants, Equifax and Experian, as it is used by fewer lenders.

From early 2013, those that use Equifax will also be able to garner the same information. For now, Equifax users cannot distinguish between a payday loan and other types of loans.

A lender can still use the good old fashioned way of finding out what type of loan a borrower has taken out – by asking.

But it is only since Experian moved to identifying payday loans did lenders start to publically discriminate.

Taken from : http://www.mortgagestrategy.co.uk/covers/black-mark-for-payday-loans/1062225.article

PandaPDQ

Capital One and Mint I think are the easiest to get. Use them once a week and pay them off every 2 weeks...I did this and my limit kept getting increased every 6 months or so

UsetheFORCE

Capital One
Vanquis
Aqua
Barclaycard Initial

These are some of the easier ones, also worth trying your own banks credit card.

dr_adidas01

PandaPDQ wrote: »

Capital One and Mint I think are the easiest to get. Use them once a week and pay them off every 2 weeks...I did this and my limit kept getting increased every 6 months or so

You can't apply for a mint card anymore they have stopped accepting new applicants a very longtime ago!!!