Rebuilding:

tomxlisa

How long will it roughly be before I can apply for a new card and have the best chances of being accepted, I keep checking the eligibility checkers but they don't seem to improve for me it's like they are broke, I've got no late markers on my file nothing bad everything paid, been on the electoral roll about 3 months now, only negative was I had made lots of applications which I've stopped now, not made one for the last couple of months, but obviously all the applications have made a dent in my reports, when would you say I could apply again, at the moment I've only had success with a capital one card which I've had for 4 months now, all other cards won't touch me, it's frustrating when I read on here that people have got other bad credit/no credit, credit cards and have ccjs etc on their reports, yet I have no luck at all.

darkidoe

If your goal is rebuilding credit, I think just keep doing what you are doing with the capital card, spending within limits and repaying in full should make the rebuild the credit history over time. If you are aiming for a particular card, i would say give it at least 6 months after your previous application..

tomxlisa

Thanks for the info, I have messed right up as I have been charged a cash withdrawal fee and gone over my limit by £2.20, I've paid it back now did it within hours of noticing but it's probably gonna push me back now it's happened, not sure if I'll get charged either and when.

darkidoe

i read from other threads that you had a couple of previous defaults on credit cards years ago. Are they off the record? Try spending just the minimum on the credit card if you can. Just 1 transaction per statement would show some record of paying monthly credit card balance.

eskbanker

tomxlisa wrote: »

I have messed right up as I have been charged a cash withdrawal fee and gone over my limit by £2.20

Regardless of whether or not you're charged for going over your credit limit, that's two more issues right there that are likely to have a negative effect - making cash withdrawals and high utilisation versus your credit limit.

tomxlisa

I called capital one about another issue I had and without asking they mentioned that I had gone over my limit, I explained it was a silly mistake and they said they would take care of the charge this time round which was nice, it was annoying as I was due to pay my balance in full the next day, glad it is all sorted now and hopefully won't trouble my credit reports with any markers, as for the other question there are no defaults etc on my reports anymore.

Playing_with_Fire_2

Have you checked that you are showing as being on the Electoral Roll on your credit file? [Try noddle first as it's free]. The information could easily take three months to post so you may find that once this goes you start to be offered more deals.

Anthorn

tomxlisa wrote: »

How long will it roughly be before I can apply for a new card and have the best chances of being accepted, I keep checking the eligibility checkers but they don't seem to improve for me it's like they are broke, I've got no late markers on my file nothing bad everything paid, been on the electoral roll about 3 months now, only negative was I had made lots of applications which I've stopped now, not made one for the last couple of months, but obviously all the applications have made a dent in my reports, when would you say I could apply again, at the moment I've only had success with a capital one card which I've had for 4 months now, all other cards won't touch me, it's frustrating when I read on here that people have got other bad credit/no credit, credit cards and have ccjs etc on their reports, yet I have no luck at all.

I admit to being confused here. Your title is rebuilding but what exactly are you rebuilding? If it's your credit why do you need to rebuild it if there's nothing bad on there?

Sign up at noddle.co.uk to get a fuller appraisal of your credit standing. Get a free trial at experian.co.uk to get a full appraisal of your likely credit score and what's affecting it but don't forget to cancel before the free trial is up.

To answer your question, if you have two full credit searches in the last six months you can probably scrape in the third if you're lucky. The other primary effect on your credit file especially with rolling credit is the percentage of your available credit used. I like to keep that below 50%. In addition, cash advances tell the lender that your can't live on your income and using your credit card for online gambling ring the alarm bells. The other biggies are being on the electoral roll and the age of your accounts

If you sign up for a free trial at experian.co.uk you'll see what I mean.

Dandytf

eskbanker wrote: »

likely to have a negative effect - making cash withdrawals and high utilisation versus your credit limit.[/QUOTE

I cannot agree with cash withdrawals having a negative effect- cash withdrawals within your limit are fine.

for a few pounds over, by paying the difference as soon as possible can be a quick cure to high utilisation

tomxlisa

Playing_with_Fire wrote: »

Have you checked that you are showing as being on the Electoral Roll on your credit file? [Try noddle first as it's free]. The information could easily take three months to post so you may find that once this goes you start to be offered more deals.

Yeah I am showing on all of them.

tomxlisa

Anthorn wrote: »

I admit to being confused here. Your title is rebuilding but what exactly are you rebuilding? If it's your credit why do you need to rebuild it if there's nothing bad on there?

Sign up at noddle.co.uk to get a fuller appraisal of your credit standing. Get a free trial at experian.co.uk to get a full appraisal of your likely credit score and what's affecting it but don't forget to cancel before the free trial is up.

To answer your question, if you have two full credit searches in the last six months you can probably scrape in the third if you're lucky. The other primary effect on your credit file especially with rolling credit is the percentage of your available credit used. I like to keep that below 50%. In addition, cash advances tell the lender that your can't live on your income and using your credit card for online gambling ring the alarm bells. The other biggies are being on the electoral roll and the age of your accounts

If you sign up for a free trial at experian.co.uk you'll see what I mean.

I meant rebuilding as in getting more on my files as in more green ticks, as i have nothing bad on my files but very limited stuff, the best thing on there is my catalogue account which I've had for about 3 years with no missed payments, I think maybe the biggest thing going against me is the searches and maybe the fact I've only had the electoral roll on it about 4 months, I am already using the online sites to check my files, thanks for that suggestion though.