Turned down for credit?

kaylielomax

Ok so I have been trying to build a good credit score for a while now but had some problems obtaining credit, I managed to get a capital one credit card (used to rebuild credit) initially I was paying it of in full each month but my credit rating went down dramatically (I regularly check using Noodle) I read that it can look bad if you pay of in full because there not making any money of you so have paid a few part payments thinking this may help.

I only have this cc my overdraft which I am usually in each month & then catalogues (littlewoods & next) these have not balance on them but when I have used them I have paid so I have never paid interest.

I have gone on the electrol roll & that didn't increase my credit score.

I tried to apply for two credit cards tesco for the 0% balance transfer & virgin money as apparently I had a 70% chance of being accepted. I got turned down for both of theres tesco because I have applied within the last 6 months & the other didn't say.

Anyone have any ideas what I could be doing wrong? Ive never missed a payment or forgotten to pay I have dd set up just in case to .... any ideas I really need to get my credit score up. thank you for any suggestions

[Deleted User]

A few pointers -

Go back to paying your credit card off in full. You don't need to pay for a better credit rating.

Going on the electoral roll is a good thing - whether it affects your score is neither here nor there, as your score is a magical number that means little and is not seen by lenders.

You need to get out of your overcraft - this will be seen as a negative.

I think a 0% card may be beyond you at the moment. You may need a little more solid history behind you.

Cycrow

The Credit Score is meaningless. Its not even seen by lenders, they have their own criteria to score you on. And noddle especially seems to be pretty random.

Also, there are 3 CRA's, so ideally, you should check your file on all 3 to make sure they are showing the correct data, with not mistakes or errors.

also, why is it you need a 0% balance transfer credit card, when you have no balance to transfer ?

Its sounds like you dont have alot of history with credit, so getting a top card might be beyond you at this point. You should ideally try at your bank for thier credit card first.

But also stay out of your overdraft and only use it for emergencies, if you're constantly in it, it looks like you cant handle your finances