Zero Credit Rating

XVXIIMMV

Good Evening All,

I'll be the first to admit that I have made an utter shambles of my credit for a very long time but I thought I'd have a look at my file for the first time to find I have a credit score of 0.

It shows that I have a bank account and a mobile phone account which are both satisfactory but also two default accounts which will be removed after being in default for six years, one in March and one in November (so I'm led to believe?). It also shows I am not on the electoral register. I have no CCJs nor anything else that appears bad.

Does anyone know how I go about building my credit? I just tried applying for an Aqua card which claims to help rebuild my credit even if I'm not on the electoral register yet it declined. My thinking is if I can't get a card like that, how on earth will I ever rebuild my credit?

Any help you can offer will be greatly appreciated.

Danny

Sabbathdei

First step--get on the electoral register.
Second---the credit "score" is just made-up numbers.
Carry on as you are with the bank account and the moby and when the defaults drop off you should be in a better position.
ELECTORAL REGISTER !!!

eastanglian1

As above^^

Maybe get yourself a credit builder card too.

samtoby

If Aqua decline you - appeal it - I did and they let me have the card with a really low limit and its now 1k a year later

XVXIIMMV

Thank you for the replies

Do you really think there's a chance they'll change their mind? I suppose it's worth a go, nothing to lose etc.

I'm a bit annoyed that I applied before getting myself on the electoral register but I suppose there is plenty of time for that while I wait for the defaults to come off. I just worry that if I can't get a credit builder card then I'll be stuck!

Another thing that I found strange is that it doesn't show any of my utility accounts on the report. Is that normal? I have both the gas and electricity in my name yet there's no sign of it at all. Could it be with a different CRA?

Sabbathdei

Utilities aren't recorded on credit files, it's just credit accounts like cards, mobile accounts, mortgages etc.

Tixy

Some utility companies are now starting to report new accounts. Some reserve the right to report (which in effect means they only report if you miss payments).

If you have old utility accounts they didn't use to obtain permission from you to report to the CRAs (when you originally opened the account).

shiningfaery

Not all utilities are recorded, I am with British gas and they record, so does Virgin Media.
Some companies reserve the right to report if you fall behind but wont if your in good standing. Just depends on the company.

I would recommend a cashplus card with the credit builder option its a prepaid credit card that reports to your file, anyone can get it. There is no credit facility but by time your defaults drop off you should have a satisfied account which will help build your credit worthiness.

Sabbathdei

Ooh interesting, didn't know that. I suppose if one was in arrears to a utility company then they could report it.

XVXIIMMV

shiningfaery wrote: »

Not all utilities are recorded, I am with British gas and they record, so does Virgin Media.
Some companies reserve the right to report if you fall behind but wont if your in good standing. Just depends on the company.

I would recommend a cashplus card with the credit builder option its a prepaid credit card that reports to your file, anyone can get it. There is no credit facility but by time your defaults drop off you should have a satisfied account which will help build your credit worthiness.

Thanks that's a great suggestion, just read up on it and ordered one

CKhalvashi

Sabbathdei wrote: »

Ooh interesting, didn't know that. I suppose if one was in arrears to a utility company then they could report it.

EDF and Orange (EE) home don't, as I've just checked for you.

The first step is then to get on the electoral register, then try to get a credit card, put £50 on it each month, and pay it IN FULL by direct debit. This will get you a series of green ticks.

Aqua, Vanquis and Capital One are the three I'd personally recommend.

You will, just by one of these cards, probably have enough of a credit record by the time the second default disappears.

CK