Credit file help

nicd1981

Hey guys, hope this is correct place to post.
I started working on my credit file about 2 years ago And as of July I was officially debt free ! I do pay other things which aren't on my credit file, not sure why they aren't there!
My question is , I have 3 satisfied defaults, 2 last year and one in July this year. My credit rating is poor 663 , when will it start to increase ?
I currently can't get any credit (my car is in mums name) and I had to get pay and go mobile as can't get a mobile phone , even though I work full time, have lived at my address for 8 years or so and have a pretty good job. How can I start to improve it? Or at least start increasing my credit rating?
I live in a housing association property, am a single mum with two teenagers, full time job.
I really thought once all my debts where cleared I'd be able to start thinking about a mortgage x
Thanks in advance
Nic x

Thrugelmir

Now you've cleared your historical issues. You need to maintain the status quo and prove beyond all reasonable doubt that you've turned the corner. So focus on saving and building your deposit. Only time will heal the past.

nicd1981

So does that mean that by having no credit accounts and saving my rating will increase?

LplateSaver

nicd1981 wrote: »

So does that mean that by having no credit accounts and saving my rating will increase?

No you can't get a good credit history from no credit history. If you think you're ready you should try appling for a Vanquis credit card, apparently that's the easiest to get, spend very little on it eg £20 pm and pay it off in full each month when you get the statement. That will give you a few green dots I think it will be pretty hard to get a mortgage though, I think some lenders say the defaults need to be 2+ years old for the person to be considered but don't hold me to that I didn't really pay attention to default conditions.

As an aside the score you've been quoted is a lot higher than mine and I didn't have a problem getting a mobile contract and credit cards. Oh the inconsistencies :rotfl:

nicd1981

Thanks for your responses, this is the problem. I can't get any credit, I tried vanquis a while back and tried a sim only mobile contract! My credit file is now debt free with the 3 paid defaults so I am Not sure how I can start proving myself :-/ my neighbour has 8 defaults none paid and has catalogues etc and my family member has loads too but still gets mobile contracts and credit cards. Not sure where am going wrong, if I have no access to credit how can I prove I'm a good payer.
Bearing in mind the defaults where on there without my knowledge (old O2) as soon as I seen them I paid (one was on account for 2 months one 3) one was for £80 and one was for £25.00.... I'd of paid instantly if I knew I owed this.
The other was a stupid payday loan I had years ago which I made arrangements to pay but they still defaulted me even though I paid it weekly x
I have quite a good job now so am earning a decent wage and just want to look at getting a mortgage but having to wait 6 or so years is a little bit depressing
Ps. I have just got my self a cash plus credit builder card so hopefully this will look like I am paying something at least.
Any other ideas will be greatly accepted.
I might try vanquis again in 6 months time or something
Thanks again

Nicola x

glentoran99

nicd1981 wrote: »

Thanks for your responses, this is the problem. I can't get any credit, I tried vanquis a while back and tried a sim only mobile contract! My credit file is now debt free with the 3 paid defaults so I am Not sure how I can start proving myself :-/ my neighbour has 8 defaults none paid and has catalogues etc and my family member has loads too but still gets mobile contracts and credit cards. Not sure where am going wrong, if I have no access to credit how can I prove I'm a good payer.
Bearing in mind the defaults where on there without my knowledge (old O2) as soon as I seen them I paid (one was on account for 2 months one 3) one was for £80 and one was for £25.00.... I'd of paid instantly if I knew I owed this.
The other was a stupid payday loan I had years ago which I made arrangements to pay but they still defaulted me even though I paid it weekly x
I have quite a good job now so am earning a decent wage and just want to look at getting a mortgage but having to wait 6 or so years is a little bit depressing
Ps. I have just got my self a cash plus credit builder card so hopefully this will look like I am paying something at least.
Any other ideas will be greatly accepted.
I might try vanquis again in 6 months time or something
Thanks again

Nicola x

http://www.moneysavingexpert.com/credit-cards/bad-credit-credit-cards

Other options, including a prepaid credit card to help rebuild credit

nicd1981

Yes I have just received the prepaid master card with credit builder option, first payment is due 1st October. Hope this makes some difference. I must be doing something really wrong though if my credit rating is 663 but I can't get any form of credit , nothing at all.

thebritishbloke

nicd1981 wrote: »

Yes I have just received the prepaid master card with credit builder option, first payment is due 1st October. Hope this makes some difference. I must be doing something really wrong though if my credit rating is 663 but I can't get any form of credit , nothing at all.

Stop paying for your credit "score", and ignore it. It means absolutely nothing and can increase/decrease for almost no reason. It's got no relation in to whether a lender will actually accept you.

Just keep using that card and paying it off each month. If it does indeed report to credit reference agencies, then in 6 months time try and apply for a Vanquis card or something similar.

Thrugelmir

nicd1981 wrote: »

I must be doing something really wrong though if my credit rating is 663 but I can't get any form of credit , nothing at all.

TIME HEALS.........

I have 3 satisfied defaults, 2 last year and one in July this year.

There's no way of accelerating the process.

LplateSaver

nicd1981 wrote: »

I can't get any credit, I tried vanquis a while back and tried a sim only mobile contract! .

I have quite a good job now so am earning a decent wage and just want to look at getting a mortgage but having to wait 6 or so years is a little bit depressing

Seeing as you were declined for vanquis, I'd double check you're on the electoral register and are spelling the address the same way on applications.

As for the mobile sim only contract, ring them up and ask them if they'd consider you if you provided a deposit.

And for the mortgage it might not mean waiting 6 years, they might consider you after 2 if you can come up with a big deposit. So you're in the same boat as me, save, save, save.

nicd1981

Hey,

I'm definitely on the electoral register 5 -6 years at this address and for 2 years at the address I lived before.
There must be some kind of advisor I can speak to who can look at my credit file and tell me what the issue is ?

I agree about the saving idea, I've opened an Isa for saving for my deposit , although I haven't managed to save much this year with still paying of my older debts.

2015 I'll save very penny as I'm now debt free (except for study debt I owe 4.2k to my old employer paying back 150 per month this isn't on my credit file )

And student loan which the government just automatically takes from my salary 60 per month. (This also isn't on my credit file )

In mean time I'll wait another 6 months and re apply, worst thing is I don't want or need credit, I just want to prove myself for applying for mortgage in future.

I've never even had a credit bloody card !

Anyway, thanks for the advice

Nicola .