Re building credit and car credit

mummytofour

Hi,
After years on a Dmp with lots of defaults, I paid all my debts off in jan 2013.
I then got a vanquis credit card and have been using it well, as a result my credit limited has now been increased several times. I also have a three contract both three and vanquis have never had a late payment.

In jan 2014 I wanted to buy a brand new car in cash but the dealer suggested I try for credit, I did and got the credit, which was with gmac via vaxhall. A couple of weeks ago I paid the car off with an early settlement.

For the last few months I have been watching my credit report through noodle which does not seem to have gone up at all and I notice that the gmac agreement has not appeared on my noodle report.

What I want to know is why is my gmac account not on my noodle report and how can I improves credit further? Is it with applying for another credit card ? Or is there something else I should be doing?

Also my mortgage is in joint names with my ex ( never had a late payment) but I know he has terrible credit and many debts, could the finance link be impacting on my progress?


Thank you :-)

Tixy

What I want to know is why is my gmac account not on my noodle report

Not all creditors report to all 3 credit reference agencies.

It may be that the GMAC account was reported to experian or equifax.

and how can I improves credit further?

Do you mean improve your ability to get credit? have you actually been declined for anything?
Don't worry too much about a score from the 3 credit reference agencies. If you are repaying your credit on time each month then you don't need to be taking out new credit accounts to try to improve your credit history any further.

Also my mortgage is in joint names with my ex ( never had a late payment) but I know he has terrible credit and many debts, could the finance link be impacting on my progress?

A financial link with another person means that when you apply for credit than a potential lender will look at your file and their file before making a decision. If you no longer live in the same house and the mortgage is the only joint account you have then it is worth trying to apply for a financial disassociation with each of the 3 credit reference agencies.

[Deleted User]

The loan will only appear on whichever (if any) CRAs that GMAC report to.

The financial association with someone with poor credit history will negatively impact you.

Bu the good news is that your Noddle score is fictional so can be safely ignored.

Continue to use your card within its terms. A second card is often useful as a back up in any case.

modder25

mummytofour wrote: »

Hi,
After years on a Dmp with lots of defaults, I paid all my debts off in jan 2013.
I then got a vanquis credit card and have been using it well, as a result my credit limited has now been increased several times. I also have a three contract both three and vanquis have never had a late payment.

In jan 2014 I wanted to buy a brand new car in cash but the dealer suggested I try for credit, I did and got the credit, which was with gmac via vaxhall. A couple of weeks ago I paid the car off with an early settlement.

For the last few months I have been watching my credit report through noodle which does not seem to have gone up at all and I notice that the gmac agreement has not appeared on my noodle report.

What I want to know is why is my gmac account not on my noodle report and how can I improves credit further? Is it with applying for another credit card ? Or is there something else I should be doing?

Also my mortgage is in joint names with my ex ( never had a late payment) but I know he has terrible credit and many debts, could the finance link be impacting on my progress?


Thank you :-)

Hi Mummytofour,

Just out of curiosity, how much was the car finance loan for?

I only ask this as I have a CCJ that expires this month and everything else on my file is up to date with no missed payments, defaults etc. But my company car is coming to an end at the end of the year and I will need to get my own so will need to part finance one that will last me a long time.

I'm hoping I'll be accepted but not sure how long after the CCJ drops off to wait and apply.

Many Thanks

Tixy

modder25 wrote: »

I'm hoping I'll be accepted but not sure how long after the CCJ drops off to wait and apply.

Many Thanks

As soon as it has dropped off your credit reports it will no longer impact on a potential lender's decision (because they won't know it ever exisited)

modder25

Tixy wrote: »

As soon as it has dropped off your credit reports it will no longer impact on a potential lender's decision (because they won't know it ever exisited)

Thank you Tixy,

This was the exact information that I needed.

Sorry to intrude on your post mummytofour