Can't get credit OR a credit score because of student addresses?!

StudentConfusion

So, I'm having some issues with getting a credit card, which has lead to further issues r.e. credit score & now I'm completely snookered.

I'm 21, just graduated uni, only ever had 1 bank account since I was 10 years old with RBS, it transferred to a student account when I was 18, I had a £1500 interest free overdraft which is now fully paid off & I've transferred to a graduate account.

Now, I've got a pretty empty credit report, I've had 4 sim only phone contracts & 1 mobile phone contract since I was 16, & in total I've only ever had 3 late (not missed) payments, which have obviously brought my score down because I've no other credit to bring it back up.

Since my overdraft got paid off I asked RBS if I could have a credit card, simply to use it here & there in order to build my credit score, I agreed to pay it off via direct debit each month & they refused my application based on my credit score.

I've since applied to every single bank & online credit card company in existence, including luma, ocean, aqua, capital one, & all the usual low credit score & credit builder company's. Every single one has rejected me.

I went on the electoral role because I know that's a factor in credit scoring & credit card applications. The problem now is that when I go onto sites such as Noodle & Experian to check my credit report & see exactly whats going on, they won't even let me sign up because they can't confirm who I actually am. The problem comes down to addresses, at 18 I moved into halls, moved back home for summer, then 2nd year of uni moved into a different halls, moved back home for summer, 3rd year of uni I moved from my Mum's house to my Dad's for the remainder of uni - I still live with my Dad before I can afford to rent somewhere when I get employed. My Mum's address I lived at for 9 years before moving out at 18, then I had 2 student halls addresses & moved back twice for several months during summer holidays, & I'm now at my Dads where I've been for the past year or so, but when I enter all of this into each credit report website they claim it doesn't all add up & send me on my way.

So how the hell I am ever going to get any type of credit/mortgage/loan when I can't get near a credit card or even a credit score!?!?

I am NOT the only student in this position, nearly every student moves into halls & goes home for summer in the first years of uni & then most, permanently rent somewhere in final year or move back home, so why is all this credit card stuff so difficult for me???

This is a big deal & I really need some guidance :mad::mad::mad:

THANK-YOU!:A

SuperHan

Did you sign up to the electoral role at each address? Did you remain on the electoral role at your parents' home as well as your student address?

For address history I only ever use my parents' address as I also moved around, and it's a bit of a pain to have to put several addresses in when it asks for three years. Plus all my correspondence went there. Possibly worth trying that?

InsideInsurance

Not everyone updates their address with banks etc each time though and so they put a constant address.

I cannot remember what I did in 1st year of uni but after that I just lived at uni so had 1 address every 1-2 years rather than switching twice a year. Likewise I had a credit card as soon as I was 18 to establish a history and whilst I had a static home address.

The other problem you now have is you've applied to so many people that anyone else is going to immediately reject you because of all the recent searches. You are going to have to wait 6 months until all of these now drop off before you have a snowballs chance in hell.

You say "when I get employed" - does that mean you are currently applying as an unemployed person? In which case that is a deal breaker too

Once your records clear and you are in gainful employment for at least 6 months then I would revisit the situation with your own bank, who will have records of your salary coming in, how you're managing your money etc and if that fails then jump straight to one of the sub primes like Vanquish

thegreenmonkey

£2 statutory credit report?

Electronic identification compares electoral register and information you enter. My issue was that I didn't include term time address.

Fruit_and_Nut_Case

StudentConfusion wrote: »

I've since applied to every single bank & online credit card company in existence, including luma, ocean, aqua, capital one, & all the usual low credit score & credit builder company's. Every single one has rejected me.

Too much activity scares lenders.

StudentConfusion

I signed on just recently with my Dad's address as that's now my permanent residence, & with all my applications for credit cards I was still selecting the "student" option instead of unemployed, not sure which of the two options would be best neither are particularly attractive to them I suppose

Hooloovoo

StudentConfusion wrote: »

with all my applications for credit cards I was still selecting the "student" option instead of unemployed, not sure which of the two options would be best neither are particularly attractive to them I suppose

Not being employed is your problem, all the other stuff is just minor. You've not got a chance at all of getting a credit card until you can tick the employed box and declare an income. I built my credit history from there by using it and paying it off in full each month - I had a cashback card so there was a money saving incentive too.

I managed to get a credit card at 18 as a student. But I entered my parents address (where I was also on the electoral role) and I also had a weekend job, so I could apply as part time employed rather than as a student.

As others have said, you need to give it six months for all those applications you made to drop off, and then apply again once you're employed.

InsideInsurance

StudentConfusion wrote: »

I was still selecting the "student" option instead of unemployed, not sure which of the two options would be best neither are particularly attractive to them I suppose

Its not a case of choosing the one thats best but choosing the one thats the truth.

Are you a student? You mention that you graduated but didnt say anything about starting another full time course.