Why Can't I Get A Good Credit Card.??

WhyAlwaysMe_2

I just don't understand it.

I have had several contract phones and completed all of them.

I bought £3200 worth of goods through Creation Finance and finished paying for that.

I bought a brand new moped from a shop called scooter city and financed that through a company called PAY4LATER also finished that.

I have had the full Virgin Media package inc Sports & Movies @ £88 per month for over 3 years and they have never received a late payment.

I have both Littlewoods & Very accounts with nothing outstanding to pay and both in over £1000 worth of credit to spend.

I have a Capitalone credit building card at 34% apr that started of at £500 now it's @ £1550 limit with £400 arrears never a late payment and always way more then minimum amount paid monthly

I'm currently 2 months through paying back a £1000 personal loan through Moneyway

Only yesterday i took at a new contract (Samsung S4) 24months accepted straight away with Vodaphone for a £400+ phone no questions asked.

Yet Equifax & experian only rate my credit score in Yellow..!! YELLOW.!!

Why...?? And why can i not get an ordinary credit card with a typical 16% apr rate with 0% interest for 12 months. I'm shocked they will not touch me with a barge pole even my own bank who ive been with for over 8 years and have over £1200 P/m in Bacs going through from work.

:mad:


The only one snag i can think of... I'm not on the electoral register thingy. Never have been.


What is the problem here.

fawnsinthegarden

You've answered your own question.

WhyAlwaysMe_2

Really..

So with all that on my credit file practically screaming ''Very Good Borrower'' they turn me down cause I'm not on the electoral register.? Yet another Company will give me a CASH LOAN


Meh. Nothing is making sense here tbh.!!

fawnsinthegarden

Well, yes.


Mainstream lenders use the electoral roll to verify you are who you say you are and the details match. Not being on the register is almost certainly the reason.


If by cash loan you mean pay day lender, taking out a loan with them will adversely affect your credit worthiness anywhere for the foreseeable.


If you send in your electoral roll form it wouldn't take long for this to be updated. Have you got copies of your credit report from the three agencies to check there is nothing untoward on there?


You also have taken on a loan and a new mobile contract recently, that will have an impact too.

chattychappy

Saying your rating is "YELLOW" is pretty meaningless as the CRAs only supply data to lenders, not a rating.

Electoral roll is important. But also is stuff like how much you earn and how long you've been in your job - you put this on applications, but CRAs don't record this.

DCFC79

As its a money saving website I'll just say you could have bought a cheaper phone eg the lg g2 or nexus 5 with the money In your very account and got a sim only sim and saved money.

CreditCrunchie

Electoral roll is majorly important. Huge scam if you ask me but that's how it is! Right now you should be able to get on it within a month.

PeacefulWaters

I have a Capitalone credit building card at 34% apr that started of at £500 now it's @ £1550 limit with £400 arrears never a late payment and always way more then minimum amount paid monthly

Do you mean "arrears"? If so that's why.

The only one snag i can think of... I'm not on the electoral register thingy. Never have been.

Lenders consider this high risk. They can't prove where you live. So don't trust you to receive statements or be in when the boys come round.

Stop seeking out new credit. Register to vote. Pay all your bills on time. Pay more than minimum payments for a few months. Then try again.

chattychappy

PeacefulWaters wrote: »

Do you mean "arrears"? If so that's why.

I think the OP meant that there is simply £400 outstanding from previous months' spend rather than any overdue balance. Anyway, that's the interpretation I based my reply on.

wiseshark

WhyAlwaysMe wrote: »

I have had the full Virgin Media package inc Sports & Movies @ £88 per month for over 3 years and they have never received a late payment.

I have both Littlewoods & Very accounts with nothing outstanding to pay and both in over £1000 worth of credit to spend.


eBay skybox F5 (sly box) and save yourself around £950 a year. A years subscription will cost you approximately what you are paying each month to Sky.

I would recommend that you cancel the Littlewoods account as Very has the exact same products and is up to 20% cheaper.

iAMaLONDONER

WhyAlwaysMe wrote: »

Really..

So with all that on my credit file practically screaming ''Very Good Borrower'' they turn me down cause I'm not on the electoral register.? Yet another Company will give me a CASH LOAN


Meh. Nothing is making sense here tbh.!!

Just sign up to the Electoral roll today!