Getting a new credit card when defaults drop off and credit file discrepancy (edited)

dini_2

So I am not likely to be needing a credit card for a while yet, but just musing about when I start to rebuiild my credit history.
One of my debts is with Capital One, and I was issued a default in 2009. (Should be paid off in 2yrs)
I just did a search of my eligibility with the MSE checker.
I appear to have a 90% chance of getting a variety of Capital One cards and a Luma card. (And Luma is also issued by Capital One)
Surely I have zero chance of getting accepted by a creditor who has previously had to default me???
And if so, what does one do to start getting back on track?
Not really an urgent query, just wondering.....

Thrugelmir

Why return to the place you've already been. Better to focus on a better way of managing your finances. Credit cards aren't the best way. If you want to fund a particular purchase obtain a loan for that purpose.

dini_2

Its not that I particularly want a credit card or credit, I certainly don't need them in the near future.
But at some point in the future, I may need a loan, and I expect loans etc will be out of reach until I rebuild my credit history.
I was wondering how to go about doing that.
Advice on here seems to be get a credit card, use and pay off completely each month.
Credit cards suggested for me seem to be all Capital One.
Due to my history with them, Capital One are unlikely to offer me any sort of credit.
Do you see what I am getting at?

nick1986_2

Try doing the "pre eligibility" check on the Capital One website and I think you will find they aren't quite so keen to accept your application, its just if you hit certain eligibility criteria when MSE do the check as they won't see who the default is actually with.

Try Barclaycard Initial when the time has passed, you get pretty much the same facilities as a standard Barclaycard apart from the interest rate obviously. Sounds like your score isn't too bad though if you are getting the 90% so best of luck.

dini_2

Another query:

So I've just had a proper look at my checkmyfile account

And the reporting on my Moorgate (MBNA) account from Call Credit and Experian are different. My current status on Call Credit is DM but on Experian is OK.

I don't know if the following info is clear. I realise one is reported a month behind the other but does anyone know why are they not showing the same info (apart from the balance obv)

Because from the info on file, it looks like Experian will show me ok from Sept 2017, and Call Credit from 2020 (6 yrs after the account is closed/paid off in full)

Last Updated: 20 February 2014 24 March 2014


Account Terms

£84 Monthly for 163m £84 Monthly for 164m

Payments Started
Not Recorded Not Recorded
Opening Balance
£0 £0

Lump Payment
Not Recorded Not Recorded

Current Balance
£2,434 £2,309

Credit Limit
£11,400 Not Reported

Headroom
£8,966 Not Known

Monthly Change
-£125 Not Available

Worst Status
DM AR




Any ideas?

James_Robertson

Hi there,

I am fairly new to all this stuff,
but I will give yous some advice.

1. well done on getting your debt down.
2. Capital One may be worth a try, because I have a card where the interest rate goes down every 6 months if you keep up the payments.

I use online banking and make sure the payments are up to date!!

hope this helps you

dini_2

Thanks James, but as I have a default from Capital One, I have a sneaking suspicion that I might not be high priority for further credit from them. I imagine if they have a list of precious clients who would not be considered a good credit risk, I would be on it.

James_Robertson

Hi Dini

You would be surprised!!
I had threatened Capital One with court action back in 2007, after mucking up on my credit card payments.
I then re- applied to Capital One in 2011 for a credit card, and there was no problem!!
It is your recent history they are more concerned with !!
Dont worry!!

Cheerio