Risking getting another credit card?

dekaspace

I was bad with credit when 18 getting a few student overdrafts that I ended up being unable to pay back, I am 31 now and last I checked my credit score about 4 years ago it was clear but after that had identity fraud in my name.

I did apply for a flat rental a while ago and passed the credit check for that, think it said I was around 576 I got a sim only deal 2 years ago no problem I had a credit card at christmas last year which I pay off in full every month(though they never seem to take full payment)

I have never missed a payment for things in last few years.

I just want another credit card more to rebuild my score and for everyday things so at end of month I can pay off fully.

Gonzo1987

Why don't you check your credit file again now? from Noddle it's free... and then you'll at least know what is on your file.

dekaspace

Just remembered I checked one in Feb and it was clear didnt check score though.

Gonzo1987

the score means nothing. Nothing at all. Lenders have their own ways of vetting you, there is no such thing as a universal credit score.

dekaspace

Gonzo1987 wrote: »

the score means nothing. Nothing at all. Lenders have their own ways of vetting you, there is no such thing as a universal credit score.

I heard that in the past, but I also heard if you have a low score it means you are a higher risk.

I have a clear credit file, and only credit I applied for in recent months is the card last Christmas time and internet in Jan.

Pixie5740

As already said, there's no such thing as a universal credit score. None of the credit reference agencies lend money so their scores are meaningless.

Lenders look at factors such as your ability to make your repayments on time and in full, how much available credit you've already got, affordability, defaults. All they are looking for are patterns on how you handle credit.

DandelionPatrol

dekaspace wrote: »

I heard that in the past, but I also heard if you have a low score it means you are a higher risk.

I have a clear credit file, and only credit I applied for in recent months is the card last Christmas time and internet in Jan.

Every lender does its own scoring. So you should be concerned that the facts on your credit file are accurate and show you to be good with credit. Just the facts, not the score.

dekaspace

I failed a barclaycard one for these reasons which is strange on the current level as I have savings in the bank, always pay stuff on time and only credit I have is always paid in full every month anyway they say this.

• We don't have enough information from the credit reference agencies to make an informed decision
• Your current levels of borrowing compared to income indicate that if you take out further credit you may find it difficult to keep up with repayments in the future
• You haven't provided suitable evidence of your ability to pay - for example employment status or suitable levels of income

Pixie5740

Savings don't show up during credit referencing.

rockm87

Dont do it!! its not worth it and it really doesnt work.

Dont buy into the marketing for 'credit repair' cards or all that rubbish!

sourcrates

Since becoming debt free I now refuse to play the card companies little games.
They want you to be in debt, in fact, they NEED you to be in debt, as otherwise they make no money from you.

There spin is to con you into thinking your "rebuilding your non existent credit score", the entire operation, credit ref agancies, card companies, all perpetuate this lie in order to obtain as much money from you as possible, it's all a complete con.

I use cash or debt card only now.