New credit card

Ronnierhino7

I got terrible credit with lots of defaults and some ccjs I am trying to put everything right at the moment I have catalogues with health credits and 3 mobile phone contracts.
I tried to get a credit card with Barclays and there eligible said good news you have a good change 2/10 so tried and was rejected, tried to open a little woods account and was reject both got there credit check from equifax so there seems to be a problem with me applying for credit and equifax.
Just tried the luma card and got accepted got a £200 limit so I am pleased it's a start to a long road of recovery.
Is luma any good for a starter card anyone had issues with them, do they offer increases at certain times

Dobbibill

Ronnierhino7 wrote: »

I tried to get a credit card with Barclays and there eligible said good news you have a good change 2/10 so tried and was rejected,

That's not really surprising given you've only got a 20% chance of being accepted but an 80% chance of being rejected.

tried to open a little woods account and was reject both got there credit check from equifax so there seems to be a problem with me applying for credit and equifax.

If you want to check your Equifax report you can do it with Clearscore free.

Just tried the luma card and got accepted got a £200 limit so I am pleased it's a start to a long road of recovery.
Is luma any good for a starter card anyone had issues with them, do they offer increases at certain times

Use the card sensibly with a DD set up to pay off in full each month and it will slowly begin to show you can trusted with credit, which is what the repair exercise is all about.

I've never had a luma card so don't know if/when they may increase your limit but don't worry too much about that, it's baby steps to start with.

MEM62

The positive history that you build up with your credit card is unlikely to compensate for the negative points on your credit history - particularly in the short term. How recent are the CCJ's and have they been settled? These will be the killer.

The way that lenders view you will improve if you continue to run your financial affairs responsibly but it will take time.

Well done for facing up to the situation and trying to do something about it.

john1002

Luma is provided by Capital One, so don't expect your credit limit to raise by any great amount or at all.

Capital One are known to very tight with credit limit increases.

Ive had a card for almost a year and no increase.

Started at £200. I now have main stream cards but still have it as it is having little impact on my credit utilisation due to low limit.

John

Anthorn

Ronnierhino7 wrote: »

I got terrible credit with lots of defaults and some ccjs I am trying to put everything right at the moment I have catalogues with health credits and 3 mobile phone contracts.
I tried to get a credit card with Barclays and there eligible said good news you have a good change 2/10 so tried and was rejected, tried to open a little woods account and was reject both got there credit check from equifax so there seems to be a problem with me applying for credit and equifax.
Just tried the luma card and got accepted got a £200 limit so I am pleased it's a start to a long road of recovery.
Is luma any good for a starter card anyone had issues with them, do they offer increases at certain times

Hey you made me smile. You say you have, "terrible credit with lots of defaults and some ccjs," and then go on to say that, "there seems to be a problem with me applying for credit."

Going back nearly 7 years I considered myself a no-hoper with only defaults and no CCJs so I'd say that you are even more of a no-hoper.

You have started off well with the Luma card and that will help you start to build a credit history. I started with Vanquis which is not really a lot different, still sub-prime, in fact these days sub-sub-prime. I think more than one catalogue credit account and more than one mobile phone contract account is overkill. The more accounts of a single type you have means more that can default and there is no real advantage. If you pay energy bills and have a landline phone and broadband the chances are that they are on your credit report too so if so that's more credit accounts to help build.

Lastly, watch out for those credit searches. More than 3 in the last six months means no more credit applications for six months. Get your credit reports for £2 each from Experian and Equifax and sign up for free at Noddle so you know where you stand.

You have a long, hard trip through a long, dark tunnel but there is light at the end of it.

A4445

Nobody's credit can be worse than mine! When I applied for Cap 1 and Barclycard they both approved me £1500 and £400 limits! At the time I had 20 defaults, discarged bankruptcy, satisfied BRU and recently moved and not on electoral roll! Admittingly the defaults and bankruptcy was old and were removed from my credit file 6 weeks after the aproval of the cards. Few straggler defaults that will be gone by End of Jan. I'm sure they forgot to credit check my previous address!!