improve credit history

MNM2903

So my recent history is all good. No missed payments I have my mobile phone, broadband, santander and lloyds account. All up to date and paid on time. I have various closed accounts with defaults and a ccj.

How long will it be before I look more favourably to lenders? Not that I want or need anything just curious?

MrSilk

When your defaults and CCJ drop off your file.. and if you don't miss any payments.

MNM2903

Fair enough thought lenders might not be as bothered once they got to a certain age.

DCFC79

Maybe some will be more favourable than others.

How old are the defaults and ccj ?

MNM2903

CCJ is from may 2014, the defaults are from a couple years ago. I have satisfied all of them now. just been reading some posts on here on building a good credit history etc and one was on about pre paid cards but i cant see them helping enough or speeding the process up. I gather with the 4 open accounts i now have that just keeping these up to date and letting the bad credit expire from my file thats the best option.

DCFC79

Nothing can speed it up, it just takes time.

Tixy

As you already have some open credit accounts then I wouldn't bother with a prepaid card.

Some subprime card lenders will consider customers if the CCJs/defaults are over 2 or 3 years old, such as vanquis etc.
These may be something to consider if you particularly needed a credit card for something (e.g added purchase protection / car hire etc) but they have high interest and low limits so are best used only if you are able to repay in full each month.

MNM2903

Yeah thats the kind of thing im going to avoid. Im not in need of any money and i should be financially sound for the next 5 years as we have a fixed rate mortgage which we can manage easy enough. Ill just save and allow time to run its course

MrSilk

MNM2903 wrote: »

Fair enough thought lenders might not be as bothered once they got to a certain age.

MNM2903 wrote: »

CCJ is from may 2014, the defaults are from a couple years ago.

Trust me, no mainstream lender will touch you with a 12 foot barge pole while you've got a CCJ on file, regardless if it's 6 weeks old or just under 6 years old.

Been there, done that. As soon as my CCJ dropped off I was accepted for 2 Barclaycard and 5 Amex cards (Credit & Charge). Just focus on not missing any payments and time will heal.

kgw1009

What about defaults? My CCJ has gone from Equifax and will go in 2 weeks From the others. Most of my 5 defaults are over 3 years old now and for less than £300 each