Trying to rebuild my credit

TylersMummy

Hello all,

Looking for a bit of advice.

Bit of background first! I am 27, and spent from 16-21 being fantastic with money, lots of savings, no debt, etc, and then from 21-25 being an absolute idiot. Late payments on a £2k loan, late payments on my catalogue accounts, spending into my OD... and all the while on a low income. An absolute idiot. Then I had my little boy and he completely changed my life/view and I have spent the last two years paying off my debt. I am now debt free. However, I have a rubbish credit rating and really want to change that so I have a chance in hell at a mortgage in the next couple of years (saving for a deposit).

I read the MSE guide for credit cards for bad credit (recently checked on Equifax and it's "poor" - no CCJs or defaults, just late payments!) and decided to give the Barclaycard Initial a go. I just applied, got asked to create a username, a passcode, password for my BC account after I had put in all the address and employment details - was thinking "Oooh, I suppose this means I have been approved! Cheer cheer!"... to then, get "we can't give you a decision right now. It may be because of a technical fault or that we need some ID..." blah blah. Does this mean I'm declined? Am hoping it may be because the address I'm at right now I've only been living at for under a month and that maybe it was because it couldn't find my previous address on the auto postcode check thingymajig and I had to put it in manually.

Also, if I am declined, would I damage my credit rating to try for another card in the next week or so? And is a cc the best way to go about rebuilding my credit?

I really am an utter novice at this. I've never had a credit card before - only loans and catalogues!

Thank you in advance. Off to give myself a poke in the eye for almost crying at the referral :rotfl:

Tixy

It just means the application has been referred to an underwriter. At this stage you could still be accepted or still be declined.

Not showing as being on the electoral roll yet could be part of the issue.

If you are declined I would wait until you are on the electoral roll and that this shows on your credit files, and then apply for a different subprime credit card.