re building a credit file

dobbollah

We are leaving the long journey of debt and now the issue of trying to rebuild a credit file.

My wifes credit file - in the open section shows our current account and 2 catlogues, one zero balance and one with about £200 of a £1400 limit.

I looked on clearscore and saw a negative factor was no current credit cards.

It is a positive move to get a card and say, buy petrol on it, nothing else and pay off the balance in full each month.....?

Candyapple

Yes, just make sure that you set up your direct debit to take the full monthly payment and not the minimum and that way it will report back to the CRA's just fine.

dobbollah

cool thanks, now the clearscore and noddle site suggest cards that are 'likely' to accept an application.......

Just a bit worried that the application will get knocked back and be a blot on the file

dobbollah

Luma or aqau seems to be the best 'match' anyone with experience....?

Dandytf

Aqua have been top of the recommended cards for years, i've been declined least twice in past year.

Capital 1 or Luma (a Cap 1 type company) maybe your best start if no mainstream cards are eligible (Barclays Initial etc)

dobbollah

she was just accepted by aqua :-)

let the healing begin :-)

Dandytf

dobbollah wrote: »

she was just accepted by aqua :-)

let the healing begin :-)

Excellent, please refer to CandyApple's earlier post, and don't go mad prior to xmas.

dobbollah

oh we have learnt HUGE lessons by previous mistakes.....never again..!!!!

in fact we've gone all our xmas shopping already :-) i say we...the missus :-) all paid for no credit :-)

forgotmyname

And dont be surprised when clearscore tell your your score has dropped this month.

I know the score is meaningless and confused as to why they emailed me to say its dropped. Its because i made a large purchase on the card thats over 50% of its credit limit. Even though i paid it off in full, Clearscore seem to think its a negative?

dobbollah

how odd.....im just gonna buy fuel on it and clear the balance each month....see what happens....