Out of the country for 12 years. NIGHTMARE.

Para69_2

I've just returned to the UK after being abroad working for 12 years and am really struggling to get even the most basic of credit.

I am currently staying with friends till I can get my work contract signed so what with that and everything else I can see its a fairly long road regardless of my earnings.

I have already learned a lot from this site (thank you Martin/crew)

Aside from get on the electoral roll can anyone offer me some advice on what I can do to get a decent rating?

Thank you

matttye

You need to build a history.

Try applying for something that's fairly easy to obtain, like a phone contract, or a 'bad credit credit card.' Then just pay it on time and in full every month without fail. And wait patiently...

I'd wait until all three of your credit files show you as being on the electoral roll before you do anything though.

If all else fails, get a prepaid credit card.

Thrugelmir

If you are looking to obtain a mortgage use either the Halifax or Nationwide savings schemes. Likewise, save and apply through a local building society where underwriting is more personal.

para69

I cant even open an account on mse.com!

@Thrugelmir thanks for the heads up on mortgage lenders its a way down the line but I will certainly make a note of them.

@matttye I cant even get a mobile contract at the moment its that bad. I hear what you are saying about the electoral roll and from MSE I know to not apply for anything more till then!

So frustrating my rating was perfect (IMHO) before I left now I am back even with a well paying contract I am in a hole. Thankfully NatWest gave me a personal account which I was able to upgrade to a platinum account the next day so I can at least function.

I dont actually want credit now (mobile phone excluded) just thinking down the line.

Thanks for the advice and for this site.

Para

matttye

para69 wrote: »

I cant even open an account on mse.com!

@Thrugelmir thanks for the heads up on mortgage lenders its a way down the line but I will certainly make a note of them.

@matttye I cant even get a mobile contract at the moment its that bad. I hear what you are saying about the electoral roll and from MSE I know to not apply for anything more till then!

So frustrating my rating was perfect (IMHO) before I left now I am back even with a well paying contract I am in a hole. Thankfully NatWest gave me a personal account which I was able to upgrade to a platinum account the next day so I can at least function.

I dont actually want credit now (mobile phone excluded) just thinking down the line.

Thanks for the advice and for this site.

Para

Not being on the electoral roll is probably one of the big issues here.

You may wish to get a prepaid credit card (no credit check, so you can't be refused for failing a credit check) just so something is being reported to your credit files.

para69

matttye wrote: »

Not being on the electoral roll is probably one of the big issues here.

You may wish to get a prepaid credit card (no credit check, so you can't be refused for failing a credit check) just so something is being reported to your credit files.

Sorry ignorance showing here......

So a prepaid CC counts towards my rating? Excellent, any suggestions/recommendations?

Thank you.

matttye

para69 wrote: »

Sorry ignorance showing here......

So a prepaid CC counts towards my rating? Excellent, any suggestions/recommendations?

Thank you.

http://www.mycashplus.co.uk/cashplus-extras/creditbuilder/default.aspx

You get 'loaned' a year's worth of account fees and pay it back in 12 monthly instalments. I believe there's one where you're 'loaned' £60 and pay back £5 per month. This is then reported as a repaid loan to your credit files.

I think you can just load £60 to the card (or whatever your yearly fees equate to) and then do nothing further, but just double check this.

As with any other kind of credit, if you don't pay a particular month this will be reported negatively, so it's just as important to keep up the payments as with anything else.

para69

matttye wrote: »

mycashplus.co.uk

You get 'loaned' a year's worth of account fees and pay it back in 12 monthly instalments. I believe there's one where you're 'loaned' £60 and pay back £5 per month. This is then reported as a repaid loan to your credit files.

I think you can just load £60 to the card (or whatever your yearly fees equate to) and then do nothing further, but just double check this.

As with any other kind of credit, if you don't pay a particular month this will be reported negatively, so it's just as important to keep up the payments as with anything else.

Well it seems that I have finally gotten myself on the ladder.

@matttye nice one mate much appreciated.

matttye

para69 wrote: »

Well it seems that I have finally gotten myself on the ladder.

@matttye nice one mate much appreciated.

No probs

para69

matttye wrote: »

No probs

So I assume if I sign up for a couple of these cards when they are 'paid off' I get a better credit bump?

matttye

para69 wrote: »

So I assume if I sign up for a couple of these cards when they are 'paid off' I get a better credit bump?

I wouldn't waste your money on more than one. With one of those and being on the electoral roll, in about 6 months you'll have at least a little bit of history and may be able to get a phone contract, or a high APR credit card.

Or a current account that reports would be ideal. Most of the ones issued by major banks do.