Credit Report - "Dormant Card"

AEP

Hi Everyone,

I am in the process of really knuckling down on my finances as i hope to buy a house in 3 years time (the goal i have set myself)

Im 25 now and am trying my best to undo all the silly things i did when i was younger (payday loans, going over my credit limits etc - which i haven't done in about 5 years)

By the time i go to apply for a mortgage, my payday loans will no longer be on my report which is a plus!

I was recently looking at my credit report today and i have noticed that there is a credit card on there with the caption "dormant" this was a credit card that i cancelled in October last year because i never used it.

Im just unsure as to what this means, has the account been closed? The lender says it has.

boo_star

AEP wrote: »

Hi Everyone,

I am in the process of really knuckling down on my finances as i hope to buy a house in 3 years time (the goal i have set myself)

Im 25 now and am trying my best to undo all the silly things i did when i was younger (payday loans, going over my credit limits etc - which i haven't done in about 5 years)

By the time i go to apply for a mortgage, my payday loans will no longer be on my report which is a plus!

I was recently looking at my credit report today and i have noticed that there is a credit card on there with the caption "dormant" this was a credit card that i cancelled in October last year because i never used it.

Im just unsure as to what this means, has the account been closed? The lender says it has.

It shouldn't show as dormant if its been closed, that's a status used when an account has sat unused for a period of time.

AEP

Thanks, i'll phone MBNA tomorrow to get them to have another look. Im hoping 3 years of hard work will help to improve my credit score and report!

DCFC79

AEP wrote: »

Thanks, i'll phone MBNA tomorrow to get them to have another look. Im hoping 3 years of hard work will help to improve my credit score and report!

Improve the history not the score.

AEP

Thats what i meant, my focus is to get my history nice and clean. I don't have any CCJs, or history of bankruptcy, all my payments are on time and have been for a long time, i don't go into my overdraft but whats dragging my history down is that i have made 6 credit applications over the past 6 months.

Im not going to make any credit applications (that can be helped) and will be looking to pay off my one and only loan early, i earn around £2300 after tax per calendar month so am hoping to save up a decent deposit for a house over the next 3 years or so.

Any tips on how to get the history squeaky clean?