I think its a good score but still rejected?

Cjmain

Hi there

I'm slightly confused I apparently have an above average/good credit score but constantly rejected why? I have no credit history,ccj's bankruptcy or IVU's and I have never had a credit card or store card. I have two credit accounts thats not even that, I took a sofa out from DFS so its not even a credit account,its paid monthly by DD its never been missed or late and an H and M account which has one late payment due to me being in hosp, I cant get any kind of credit card not even a credit building one, Iv tried to apply for the Luma, vanquis visa, captial one classic, all credit building cards and they have all said no? my callcredit score is 719 and equifax 583, during the telephone call with equifax who said they score you out of 600 surely 583 is a good score is it not? I'm getting increasingly frustrated with the whole situation, how do you build a credit rating/score when your not even given the chance to do so?

Cycrow

lack of history would be part of the problem.

when did you start the DFS loan ? (it is still credit btw)
also when was the H&M account opened ?
when was the late payment recorded?

if either have been opened recently, that could be a reason for getting rejected.

also, as you seem to have applied to a few places, you will now have searches showing on your credit file which will also cause problems.

The more you try to apply the less chance you have of getting it.

it might be best to leave it at least a few months then try another one, like Barclaycard initial

Drp8713

Are you on the electoral role? Whats your income/ empoyment status etc

My sitution was similar. All i had was a santander current account with a £50 overdraft i hadnt used for 3 years.

But i was on the electoral role, employed full time, salary just under 30k. Got rejected by barclaycard initial but accepted for vanquis and cap1 classic

Cjmain

I am on the electoral role but I'm wondering if when I ticked the box for the edited registrar has caused a problem. My H and M account was opened in Feb this year late payment in March, and my agreement with DFS started in May of this year. I have been in employment since March and salary being 14k.

Cycrow

i think the problem here is that you have 2 fairly new accounts that were open in the last 6 months.

i would definatly wait awhile before applying for any more.

i would say wait at least 3 months.
the edited registrar wont really make a difference. As long as you credit file shows that you are on the register correctly, then that'll be fine.

DCFC79

Why you getting frustrated for ?

Theres nothing you can do so concentrate on saving, dont miss any more payments.

JohalaReewi

Cjmain wrote: »

my callcredit score is 719 and equifax 583, during the telephone call with equifax who said they score you out of 600 surely 583 is a good score is it not?

Everytime you apply to a lender for credit, a brand new credit score is calculated by the lender, and you are not told what it is.

The scores from the CRAs are just a number. The lenders do not see this number, only you do. Don't get worried about it and don't pay for it.

izools

I'll tell you a sure fire way to improve your credit rating to enable to you get a credit card. It's the easiest thing you could possibly hope to do:

Do nothing.

Absolutely nothing. Don't open any accounts, apply for any accounts, close any accounts, anything. Just maintain what you have continuing to pay on time every time.

I guarantee you that once six months have passed, as long as you haven't applied for anything at all and have maintained timely payments, you will have no trouble being approved for a Barclaycard Initial or Capital One Progress card, which are the "best" of the beginner credit cards.

Good luck! :beer:

The_Boss

Ignore the scores from Experian, Equifax etc. They are one big steaming pile of dung that do not mean anything in the real world.

bargainbetty

Cjmain wrote: »

I am on the electoral role but I'm wondering if when I ticked the box for the edited registrar has caused a problem. My H and M account was opened in Feb this year late payment in March, and my agreement with DFS started in May of this year. I have been in employment since March and salary being 14k.

You have less than six months history, which shows a missed payment within the first month. Step back, pay the bills on time, and wait six months. You are far more likely to get something when your situation is a little more established. Right now, more applications will look like desperation - show them you can manage the credit you have before you ask for more.

Experian_company_representative

Your credit rating with any lender is likely to take a temporary plunge when you have taken on new credit. As others have said, if you do nothing but maintain your existing credit well now for 3-6 months your attractiveness to other lenders should increase.

James