2nd Card on one account to help son

needy_jim

I have a credit card account that has two cards, one for my wife and the other for me. Our son is struggling to establish a rating that will let him get his own card. He has a spotless credit record but has been refused cards and a mortgage. Long story...

Anyway, would transferring one of the named cards into his name help him establish a more "creditable" rating?

Hope there's someone out there who can advise.

[Deleted User]

You can't transfer cards to other names.

You can request additional cards for people (usually family members) but it won't do anything to improve (or harm) their credit file, as the agreement is not in their name.

Has he tried for a sub prime card?

needy_jim

Thanks for the reply ZX81.

I was hoping that wouldn't be the answer.

He's tried the Paul Lewis suggestion of a "soft search" with a pretty dismal result ... 0% chance.

The biggest issue seems to be that even though he has a non-mail order credit agreement for the purchase of a household item, over a two year period, that was against *our* address because he lived here just prior to moving into his flat (against which his credit rating seems to be held). We spotted that about a year into the agreement and told him to advise his lender so that his record will reflect his new address. That doesn't seem to have made any difference.

His bank hasn't help the situation by cold calling him, about three years ago, and stating that they would issue him with a credit card. He said OK and "his" application failed. The bank then said they couldn't do anything about that negative mark against him.

About 18 months ago he was promised (in writing) a mortgage by his bank too. Guess what, also refused. The bank really don't give a toss and are unwilling to even try to sort out the mess they have created.

I don't suppose there's any sensible way of having his credit rating reviewed by an independent arbiter who can influence his status in a positive way is there?

Not_skint_anymore.

I think it's a bit unfair to blame the bank. You've admitted that his credit agreement wasn't registered at the correct address. The failed CC application 2 years ago won't affect him now, neither will the mortgage application.

Make sure he's on the electoral role (at the correct address) and make sure his bank are providing the correct info to the credit agencies.

[Deleted User]

needy_jim wrote: »

I don't suppose there's any sensible way of having his credit rating reviewed by an independent arbiter who can influence his status in a positive way is there?

There's no 'status' to review. All a CRA does is hold data. Lenders then interpret that dta as they see fit.

Check all three CRAs to ensure everything is accurate. If not, dispute it or correct it.

Has he tried someone like aqua or Vanquis?

Pixie5740

Credit cards only affect the principal card holder's credit file so giving your son a CC won't help him improve his credit history (not score because universals credit scores do not exist).

I find it difficult to believe that one rejected CC application made 3 years ago would still have such an impact that it prevents him from getting any lines of credit. Your son needs to get hold of all 3 credit files; Call Credit, Experian and Equifax to find out what's on them. The first he can get for free via Noddle. The other two he can get his statutory credit reports for £2 each.

fruitisbad

Pixie5740 wrote: »

Credit cards only affect the principal card holder's credit file so giving your son a CC won't help him improve his credit history (not score because universals credit scores do not exist).

I find it difficult to believe that one rejected CC application made 3 years ago would still have such an impact that it prevents him from getting any lines of credit. Your son needs to get hold of all 3 credit files; Call Credit, Experian and Equifax to find out what's on them. The first he can get for free via Noddle. The other two he can get his statutory credit reports for £2 each.

The equifax one can be gotten for free from clearscore

needy_jim

Thanks Not_Skint_Anymore

Usual story of far too much going in in our lives and so, simple stuff, like advising of changed address when direct debit is still working tends to be overlooked.

As far as the bank is concerned, I do blame them for his initial problems because they should NOT have approached him with the promise of credit unless they had already vetted his chances of success. Any subsequent request will therefore appear as a rejection and that will carry forward - surely?

They also promised him a mortgage (in writing) then refused him. Again, that would have appeared as a negative on his credit score. Unless there's something I'm not understanding about how all this works. He is now extremely cagey about applying for anything else.

needy_jim

zx81 - I'll get him to do that (check all three CRAs) - thanks.

needy_jim

Pixie5740 - same reply as to zx81, I'll get him to chase the CRAs to see what's going on. Thanks.

needy_jim

fruitisbad - I think he's already subscribing to Equifax so should be able to see the report I guess.

Thanks for the pointer to clearscore