its 6 years since AD - and I need to build credit

b-man

Hi guys,

When I went bankrupt 6 years ago I had debt with MBNA and Barclaycard. I have read that they keep your details on file for ever, so am wondering....

Has anyone who has gone bankrupt with a lender then managed to get a new credit card with them 6 years later?

thanks,

Bman

edit - I'd just add, for anyone reading this who is within the 6 years, that its probably not a good idea to wait until you are 6 years in before building credit, I have just seen that there are loads of cards these days that will accept you 1 year to 18 months after bankruptcy.

you can find the details using MSE's free search - https://creditcards.moneysavingexpert.com/?bad-credit

tigerfeet2006

First off make sure that you have done a credit file clean up and see what is lurking on the file or not.

Then as you have found out you can go for this like Vanquis and CapOne cards for bad credit. Just use them on things that you would buy anyway (petrol, groceries) and then pay it off in FULL each month. Give yourself a year on these and then try for a slightly better card etc.

Having a mobile, catalogue account and things like that help as well.

b-man

thanks for the info tigerfeet - yeah I wrote in another post in the credit card forum that I applied for a Barclaycard after getting accepted in a "soft search" but they blocked it on the hard search.

Im not sure whether this is due to the debt with them written off 6 years ago, or whether its due to other factors, like not having used any credit since then, or not being able to fit 3 years worth of addresses in the two boxes they provided. I think there are alot of factors at play in these things.

Any advice on how the mobile credit works. I am under the impression that you have to have a contract with a phone (I have sim only currently) for it to improve your credit score, as its to do with them lending you "money" when they give you an expensive phone.

is there anywhere that does soft searches for Mobiles? I might just give my provider (EE) a ring and find out...

wildincrawley

Would the b-card be your first credit card? I got a Vanquis card first, which improved my credit before trying any others.

Are you still in a basic bank account? I believe moving into a regular current account is another step up the credit score ladder

Phones - I have a SIM-only contract, £7.50 from T-co, capped at £10pcm, I am hoping the regular DD also helps with a credit score!

And yes, a fixed address for over a year, on the electoral roll, would help!

b-man

wildincrawley wrote: »

Would the b-card be your first credit card? I got a Vanquis card first, which improved my credit before trying any others.

Yep, but I got a Captial One Platinum card after rejection from the Barclaycard, so I will use that to build credit. How long have you had the vanquis card? Have you seen any increases in your credit score?

Are you still in a basic bank account? I believe moving into a regular current account is another step up the credit score ladder

Just got this upgraded today and got a £200 quid overdraft. I am thinking I will keep the basic account open as I guess it will help to continue improving the "average age" of my accounts. Not sure how important this is, mind.

Phones - I have a SIM-only contract, £7.50 from T-co, capped at £10pcm, I am hoping the regular DD also helps with a credit score!

Yeah I have a 26 quid a month sim only. Its strange that it shows up on my Equifax report as an account, but not on experian or noddle.

And yes, a fixed address for over a year, on the electoral roll, would help!

I have these things, but they dont seem to allow for applications to deal with people that have lived in 3 places in 3 years. Maybe its a red herring and they only need two addresses to find you in the system.

Round_The_Bend

I also obtained a Barclaycard recently, despite their being one of my original creditors. I have had a Vanquis credit card for around five years though, as well as an Aqua one for around three years. Both have always been paid off, in full, every month, so this may account for recent acceptances by Barclaycard and several other prime lenders.

chadman2006

Hi
I started a basic Barclays bank account in march 2014, and then after my bankruptcy went off my file on the 9th May 2015, I applied for an Initial Barclay card on the 18th May. I did it mainly to see what would happen, and also to help improve my credit rating by using the card to buy fuel, and then pay it back on time.
To my surprise I was accepted. And even though the maximum limit was £1200 on the card I was given £800, which I was more shocked with.
It can be done, but I would try and stick with the bank your with as they will see how you have handled your money recently and if your too much of a risk.
Good luck

owlet

I'm sim only with EE on a 1 year contract & they report to equifax & experian but I can't remember about noddle off the top of my head.