get rebuild credit card or not?

Bee70

Hi,
we are looking at possibly applying for a mortgage soon (end of year, start next year), but had a few defaults which will hit the 3 year mark in a few weeks. These have now all been completely settled.
Obviously, the credit files don't look great because of this ('scores' vary from good to poor)
The question is, do we try and get a rebuild credit card (we now only have DDs and current and savings account), or would applying for one of these so soon before apply for a mortgage be a bad idea?

MuddyFunster

There's no right or wrong answer here.


I worked in finance for 10 years, but underwrote finance for assets (mostly cars, but lots of machinery too) for businesses so have no direct experience with mortgages.


What's your history like post 2012?


If your history consists of defaults from 2012 and nothing since you could do with some 'good news' to show good repayment history - I'd suggest getting a card with a modest limit (£500 or less) so you can show good repayment, without giving anyone any gitters about affordability.

Bee70

thanks for the reply. our defaults were quite big - around 2000, but since 2012, we have been working to pay these off with other debts we had at the same time, but made no other applications for credit or any more defaults.
I wasn't sure if applying for a card within 3-6months of wanting a mortgage was a good idea, but then neither is having bad credit.