Defaults/"Bad Credit" Credit Cards

rbrtmcrthr

Hi all,

I am almost 23yo with 2 defaults on my credit report, one which says it will be reported until September 2016 with both Callcredit and Equifax, and another which says September 2016 with Callcredit and July 2017 with Equifax. Does this mean that I will have to wait until July 2017 to have good credit again? Or since most will have dropped by Sept'16 will it be ok then?

I was thinking of getting a CapitalOne credit card for FUEL USE ONLY and paying back monthly... will this give my report a boost when defaults drop? But then, when I checked which one was best I was only scoring 3/10 and 5/10 for them, does this mean I probably wouldnt even be considered for any of those?

Please help, I am getting married this year and me and my Wife-to-Be will be looking to buy a house ASAP

Thanks for any help in advance

Robert

matttye

The date should be the same on all of your credit reports. What date did you actually get the default? They're supposed to stay on your credit report for six years from the date they're issued.

I have two defaults (both due to drop off in 2015) and got accepted for a CapitalOne classic card.

rbrtmcrthr

Two different Companies have them issued on different dates. Sept'10 and Oct'10. Is strange, but i'm trying to sort out in advance so I dont have to do all this when defaults have dropped. Might chance applying for one that I scored the higher 5/10 on and see where it takes me.

matttye

rbrtmcrthr wrote: »

Two different Companies have them issued on different dates. Sept'10 and Oct'10. Is strange, but i'm trying to sort out in advance so I dont have to do all this when defaults have dropped. Might chance applying for one that I scored the higher 5/10 on and see where it takes me.

Do you mean that you've got defaults from two different companies for a single debt? If so, that's not legal and you should complain to whoever lodged the later default in writing advising them that you've already had a default lodged against you from whoever lodged the earlier one. If you then don't hear from them, or they spout some rubbish about how they're allowed to do that, you can then complain to the financial ombudsman.

You should have a default registered from either the original creditor OR the debt collection agency that bought the debt, but not both, and if the debt collection agency took over the debt, they cannot amend the date of the default - it needs to be the same as it was when the original creditor issued it.

rbrtmcrthr

Ok, here is where it may get a little confusing.

It was 2 accounts with RBS, one a student current account, and when I opened the student account they also offered me a credit card, which was classed as another account.

The Student account defaulted in Oct'10til Sept'16/July'17
The Credit card defaulted in Aug/Sept'10 til Sept'16

matttye

rbrtmcrthr wrote: »

Ok, here is where it may get a little confusing.

It was 2 accounts with RBS, one a student current account, and when I opened the student account they also offered me a credit card, which was classed as another account.

The Student account defaulted in Oct'10til Sept'16/July'17
The Credit card defaulted in Aug/Sept'10 til Sept'16

The student account should come off all of your credit reports in Oct 16. It shouldn't be displayed until July 17. If you complain in writing to RBS they should be able to sort that out.

rbrtmcrthr

Ok, Will that work even though the accounts with them are since closed? What information would they need?

matttye

rbrtmcrthr wrote: »

Ok, Will that work even though the accounts with them are since closed? What information would they need?

Anything you can provide to help them find the account will assist.

samtoby

After defult I started with a Rise card now called Shout which was expensive but after 4 months of paying it in full every month, I was accepted for a Luma a devision of Capital One, I also applied for an Aqua at the same time which was declined but I got that overturned 3 months later and I have just been accepted with a Creation Purchase card two years after starting this path of trying to get my credit repaired.

My score on Experian and Equifax is below 400 and it says I am not likely to get credit. It is proof its useless.

In the last two years with defaults (2010) and backwards some have dropped off now I have:

Car Finance which I took out in January but have nearly cleared (overpayments.)
Credit cards - max limit 3k on my Creation.

All starting with a £300 Rise/ Shout Credit Card with defaults and a CCJ.

It just takes time and good management.

rbrtmcrthr

Thanks matttye for your help. Since opening this thread, I have applied for, and been accepted for the CapitalOne Classic Card, so gonna use that for fuel and repay monthly. Like I have just read in another thread from the guy my age will keep that for 6-12 months then apply for a rewards card

rbrtmcrthr

samtoby wrote: »

After defult I started with a Rise card now called Shout which was expensive but after 4 months of paying it in full every month, I was accepted for a Luma a devision of Capital One, I also applied for an Aqua at the same time which was declined but I got that overturned 3 months later and I have just been accepted with a Creation Purchase card two years after starting this path of trying to get my credit repaired.

My score on Experian and Equifax is below 400 and it says I am not likely to get credit. It is proof its useless.

In the last two years with defaults (2010) and backwards some have dropped off now I have:

Car Finance which I took out in January but have nearly cleared (overpayments.)
Credit cards - max limit 3k on my Creation.

All starting with a £300 Rise/ Shout Credit Card with defaults and a CCJ.

It just takes time and good management.

Thats good!! This is first I've applied for since it all started so hopefully on to a good track. I have only been on forum for a few days but already so much more money concious now. Long may it last :-)