Credit help needed please!

ashecorven

Born in Australia but have always had a British passport. I'm a home owner, have considerable savings and income from both - all in Australia. Good credit there also.

Moved to the U.K. two years ago, opened a basic account with Barclays as that's all I needed.

Early last year, I applied for a Halifax clarity card when I was earning well into the 40% tax bracket and was rejected. Quite surprised, I went in store immediately afterwards and was told to apply there as the online application didn't take overseas addresses correctly. The application went through, and apparently wasn't rejected but blocked as the online one had already been rejected.

I quit the job and am now travelling overseas, and last month I applied for a TSB Classic Current Account and was again rejected.

Created accounts with Experian and CMF.
Can't find anything bad on my file with Experian and the score is listed as good (low 900's).
Nothing bad listed in my account my CMF either.
I've read MSE's piece on not reading into credit scores but CMF was quite different compared to Experian. CMF shows Callcredit and Equifax as just under 700 (2 stars) but the main thing of note is the application score being just under 600. Which I find surprising as those above are the only two applications I've made.

I understand my problem is a lack of credit history not bad credit as I've never failed to pay a bill on time, etc.

However, now that I'm not working and want to open an account as an interest earner it seems impossible. MSE's credit card eligibility calculator shows 0% for everything listed.

Advice, insight, criticism, relief, all welcome.

grumbler

ashecorven wrote: »

...I understand my problem is a lack of credit history not bad credit

You understanding is correct.
What history do you actually see in your credit files?

However, now that I'm not working and want to open an account as an interest earner it seems impossible. MSE's credit card eligibility calculator shows 0% for everything listed.

Do you mean the the interest is your only income? Is it really that big?

Advice, insight, criticism, relief, all welcome.

Last year you should have applied for some sub-prime card to build some history first, not for Clarity. Don't know if it's worth doing now. Possibly, it's too late.

boo_star

grumbler wrote: »

You understanding is correct.
What history do you actually see in your credit files?

Do you mean the the interest is your only income? Is it really that big?

I thought they meant interest earning accounts. I think clarification is needed here.

ashecorven

grumbler wrote: »

You understanding is correct.
What history do you actually see in your credit files?

I only see the checks from my two applications, nothing else.

grumbler wrote: »

Do you mean the the interest is your only income? Is it really that big?

Interest is not my only income, would really be struggling if it were. I was meaning that I'd like to open a high-interest account so my cash isn't just sitting there doing nothing.

grumbler wrote: »

Last year you should have applied for some sub-prime card to build some history first, not for Clarity. Don't know if it's worth doing now. Possibly, it's too late.

What do you recommend for the current situation?

Candyapple

So did you actually get the Clarity card in the end or not?

What is showing up being reported on your credit report? i.e any bank accounts, cards, loans, mobile phone companies?

If you are travelling overseas now I'm assuming you no longer have a UK address? In which case, you would get rejected in any event. Unless you still have a UK base which you can visit to pick up post etc in which case you would need to apply for credit building cards such as Vanquis and Capital One.

CLAPTON

when you apply for credit

-what do you say your income is
-what do you say your job is
-what address do you give

grumbler

ashecorven wrote: »

I only see the checks from my two applications, nothing else.
....
What do you recommend for the current situation?

Well, if credit searches is your only 'history', do something to build one.
Any CC (even a subprime one), and account with overdraft, a store card, a mobile contract (even sim-only) - all they positively contribute to the history if used correctly. Make sure that you are registered on the electoral roll.

Interest is not my only income, would really be struggling if it were. I was meaning that I'd like to open a high-interest account so my cash isn't just sitting there doing nothing.

A current account has to be easier to get. If rejected, try appealing to find out the reason of rejection.

ashecorven

Hey gents, sorry about the delay, have been staying in places without wifi recently.

@Candyapple

I was unsuccessful with Halifax, so did not receive the card.
All that is shown apart from the checks from the two applications is my basic bank account. I have not had any loans or phone contracts (or need of them).

Fortunately have a UK base that I can use, but the MSE credit card eligibility checker shows 0% for credit building cards.

@CLAPTON

For the TSB account I stated that my income is 0 (as the application asked about UK income), job as unemployed (and give the same address that I'm enrolled to vote. Was different when I applied for the Halifax as I was still working and enrolled to vote at another address.

@grumbler

Was on the electoral roll well before applying for the TSB account.