DMP or Electoral Roll

gadgets.loco

Hi - I have been on DMP for the past 5 years and I am not on the electoral roll. I have applied for an Amex card and was rejected, so that made me wonder as to what could have a heavier weight with credit assessment: being on DMP for the past 5 years or not being on the electoral roll?

Purely speculative, I am not going to request Amex to reconsider their decision.

Thrugelmir

Why haven't you registered on the electoral roll?

The DMP will have a severe impact on your ability to obtain further credit.

simeyb

A couple of points.

If you are in a DMP, you really shouldn't be applying for more credit - your current creditors would frown heavily on this and ultimately your DMP could fail. It is an informal arrangement with creditors remember so they can pull the rug any time they want if they think you are not being fair to them.

Secondly, your credit file is probably knackered due to Defaults or AP markers and these could be around for a while yet - especially with Defaults you can forget about successfully applying for any credit until they disappear after 6 years - and you sooooo have no chance of being accepted by a prime lender like Amex.

Lastly, not being on the electoral role isn't going to help either as prospective lenders will not trust your address details etc etc.

I would recommend forgetting about more credit - its what got you into your DMP in the first place and focus on saving for what you want - I know thats not easy but you dont want to be in debt forever.