Things I can do to make my self look better to lenders

BrookesAndrew

Hi everybody,

I have got a credit card which I have had for 4 - 5 months now. I have got two phone contracts. One for me and one for my girlfriend. I am wondering what else can I do to make my self look attractive to lenders. I want to get a few things on Finance like an Argos card or maybe a laptop from PC world or something like that but when I have applied they reject me. I know that there is no such thing as a credit score but I know you can make your self look more attractive to lenders when you apply for things. What can I do? Shall I just an overdraft? Shall I apply for another credit card. What would enable me to get something of a cataloger or able to buy something on Finance?

Thanks in advance,
Andrew

dotdash79

give it a bit more time to establish a record of paying back perhaps another 6 months. don't make lots of applications otherwise you look desperate.

Fishingtime

So you want to get yourself into debt to get a good credit rating?
but still you are unsure what you want to buy with the debt, Why are you trying to get your credit score up ?

BugsyBrowne

Fishingtime wrote: »

So you want to get yourself into debt to get a good credit rating?
but still you are unsure what you want to buy with the debt, Why are you trying to get your credit score up ?

Credit scores don't exist so I doubt the OP is trying to get that up.

BrookesAndrew

Fishingtime wrote: »

So you want to get yourself into debt to get a good credit rating?
but still you are unsure what you want to buy with the debt, Why are you trying to get your credit score up ?

As somebody has already pointed out and as I already know credit scores don't exist, I am trying to make my self look better to lenders. I want to get a good credit history so when I am older I can own my own house. I don't get what you mean when you say 'what do I want to buy with that debt?'. I just want to make my self have a good credit history so when the time comes I can get a mortgage and own my own house.

Hope that answers your question.

sirwiggum

From what I've been told in my debt adventure is that lenders do not see a score.

What they see is a table of open and closed accounts, markers etc.
Obvious entries like Defaults or Arrangement to Pay ring alarm bells.
Some products will be a 'computer says yes/no' scenario, others like mortgages will have analysts doing a bit of digging.

However if they see you have a bank account that is never overdrawn and a credit card that is never late, these should work in your favour.

Sign up with noddle and get your callcredit credit file. But from what I've been told, this file is more detailed than the lenders see.

I see no point going into arbitrary debt.

moaning_boy

how do I put a post on?

[Deleted User]

moaning_boy wrote: »

how do I put a post on?

No idea. I've been trying for years myself.

Wilkins

BrookesAndrew wrote: »

As somebody has already pointed out and as I already know credit scores don't exist, I am trying to make my self look better to lenders. I want to get a good credit history so when I am older I can own my own house. I don't get what you mean when you say 'what do I want to buy with that debt?'. I just want to make my self have a good credit history so when the time comes I can get a mortgage and own my own house.

Hope that answers your question.

Concentrate on paying off your current CC in full every month. Also make sure that nothing -- repeat, nothing-- goes wrong with paying your phone contracts.


Future lenders will want to see a long and flawless history of using credit and paying it back. Taking on more credit just to boost your credit rating will not help and may make your situation worse. If you want a laptop, save up for it. In short, you have to be patient.

27col

moaning_boy wrote: »

how do I put a post on?

Yeah, it's a bit of a mystery as to how to do that. Keep persevering, you'll figure it out eventually.

Thrugelmir

BrookesAndrew wrote: »

Hi everybody,

I have got a credit card which I have had for 4 - 5 months now. I have got two phone contracts. One for me and one for my girlfriend. I am wondering what else can I do to make my self look attractive to lenders. I want to get a few things on Finance like an Argos card or maybe a laptop from PC world or something like that but when I have applied they reject me. I know that there is no such thing as a credit score but I know you can make your self look more attractive to lenders when you apply for things. What can I do? Shall I just an overdraft? Shall I apply for another credit card. What would enable me to get something of a cataloger or able to buy something on Finance?

Thanks in advance,
Andrew

Focus your efforts on saving. Demonstrate to a potential lender that you manage your money well. There's no secret really. Just common sense.