Journey from the dark side.........

Simon7685

I have had some great news I want to share, especially with all those who like me have had problems and need to rebuild their credit rating.

My journey from the dark side is almost complete:T

It has been a long long road back but finally things are starting to work out. I applied tongue in cheek for the Barclaycard Freedom Rewards card last weekend. I didn't expect to get it as it came up with the we will be in touch in the next 5 days. Never mind I thought just give it another 6 months and try again.

I logged into my Barclaycard Initial account last night, to check this months payment had been credited and there was my new Freedom Rewards account on there as well:j

Today the new card arrived and I activated it, I have a £2000 limit and an APR of 18.9%, which is the lowest APR for that card. I am so happy to know that at last things are on the up and bad credit, credit cards are going to be a thing of the past for me sooner rather than later:D

So for everyone else out there, there is hope and a light at the end of the tunnel, even if it is a long tunnel. Keep using the sub prime cards, pay in full every month and eventually you will get there.

It has taken me just over 2 years to reach this point as follows;

May 2011 - Got Vanquis Granite card 59.9% £250 limit (now £1000)
July 2011 - Got Aqua Classic 35.9% £200 limit (now £1925)
Aug 2011 - Capital One Classic 29.9% £200 limit (now £1550)
Aug 2011 - Halifax Current Account no OD facility (now £300)

May 2012 - Barclaycard Initial 29.9% £250 limit (now £1250)

June 2013 - Capital One Progress 29.9% reducing every 6 months £1500 limit
August 2013 - Barclaycard Freedom Rewards 18.9% £2000 limit

Every single one of these cards has been paid in FULL every month, never paid a penny interest.

There have been disappointments along the way, rejected for Cap One Progress before but I have just kept plugging away. Moving forward now I plan to ditch the Vanquis card, I no longer need it and it is the one with the lowest limit on now, which I think is quite funny. In around 6 months time, I will try again with my bank for a Halifax card to replace the Aqua and over the next 12 to 18 months look to get all the sub prime closed down and just hold 2 or 3 decent prime cards.

I hope my journey and sharing it will help other people that are at the start of their journey from the dark side, or currently going through it feeling it is a lost cause..........

It isn't keep pluggin away and when the day comes that you get that first decent card with a good APR and limit, you will feel so happy and proud that you have got yourself back from the abyss:beer:

Just make sure to repay in full each month and don't be lurred back down the dark path again:eek:

You-kip

How did you get a trashed credit report in the first place?

getting_there1

Well done Simon.

Simon7685

You-kip wrote: »

How did you get a trashed credit report in the first place?

I don't really see the relevance of that to be honest???

If it alters anything though, I got into a mess through long term illness and bank charges, mixed in with a bit of my own stupidity.

The point I was trying to stress is that no matter what has happened in the past, there is always a way back. It might take a long time and you might have a few bumps on the way but you can get there in the end. a lot of people struggle and think it will never happen for them, I just wanted to let people know it can and does.

Maestro.

You-kip wrote: »

How did you get a trashed credit report in the first place?

That is none of your business bugsy.

Congrats Simon on getting yourself back up and running. The hardest part I am finding is getting cashback cards. I started from having "no credit" (quite young) so probably managed to build things perhaps a bit quicker than someone who is repairing a bad history. It does seem however that cashback/reward cards require a lot of proving to get.

You-kip

Simon7685 wrote: »

I don't really see the relevance of that to be honest???

If it alters anything though, I got into a mess through long term illness and bank charges, mixed in with a bit of my own stupidity.

The point I was trying to stress is that no matter what has happened in the past, there is always a way back. It might take a long time and you might have a few bumps on the way but you can get there in the end. a lot of people struggle and think it will never happen for them, I just wanted to let people know it can and does.

Sorry mate didnt mean the post to come over wrong I was just curious that's all.

Simon7685

That's OK Maestro, I wasn't upset by it, just didn't understand it but I can unserstand your curiosity.

I just hope that some people struggling to find their way back can take some positives from my experience. I know exactly how it feels as the months seem to tick by but still you can't a decent card with a decent APR, or credit limit.

It feels as though you will never get there and months and months of paying on time and full count for nothing. Which is why when something like finally getting a prime time card happens, it makes you feel valued and somehow accepted again.

rrelite

im too on the road to recovery, mis-spent childhood left my credit report in tatters with several thousand pounds worth of debt mainly mobile phone contracts and a couple of credits cards left me with 8 defaults on my report!

for several years I couldn't get any form of credit whats so ever but now after many painful years I only have 3 defaults on my cr and I starring to repair my cr with little things like a mobile contract, a Lloyds tsb and nationwide current accounts, a vanquish credit card and virgin media account all now showing possitve marks on my credit report.

only another 13 months and my credit file will be default free and looking good.

I know people say don't pay for the Experian rating but I do pay for it and although it may mean nothing to the banks it has helped me massively. when I started to put things right about a year ago my credit score was 121 now its at 498, really bad I know but just seeing it go up encourages me to keep going and not to fall back into my old ways.

when its in the 900s I will cancel it but in the mean time theres nothing more satisfyable than seeing my score go up every month

wiseshark

rrelite, Experian are playing a game with you. At most you only need to log in twice a year and then cancel before the 30 day period.

Your score is low now, provided you keep making your monthly commitments on time, it will no doubt improve slowly and eventually in about 3 years time, it should be in the 900s but who cares what they say. Recognise this money making scheme for what it is.

Are you really prepared to pay £14.99 for the next few years. That will be a very nice little earner for Experian totalling £539.64.

Seriously, are you going to waste that sort of money just to receive a meaningless score?

rrelite

I know exactly what your saying pal, I totally understand its just a meaningless number BUT I guess its all phycological for me, like a game, a challenge and the target is 999.

I know it sounds stupid to most people but I have an addictive personality and in the past its got me into some stupid !!!! like smoking and gambling, now I understand this side to me, im trying to use it to my advantage by becoming addicted to things such as saving and inproving my credit score. ive managed to kick the gambling but I came close to losing every thing through it, smoking is still my nemesis but im hoping my new addiction to saving will force my mind to pack the fags in.

Every day I check my credit score, first thing in the morning and last thing in the evening.

wiseshark

I admire your honesty and understand these psychological addictions.
Delighted that you were able to overcome the gambling and believe you will eventually quit smoking.

Have you considered registering with NODDLE? You can obtain your credit report each month completely free for life and you will also get a rating out of 5. Most people are 3/5, with 5/5 being excellent and 1/5 been very poor. They are a part of Call Credit which are the third largest CRA in the UK.

Do not obsess yourself with these useless numbers. Every lender will score you differently, hence one accepts while another will decline. All the best mate.

PS. I am a shocking smoker of rolled tobacco, have been for 27 years and know I must quit before they finish me.