Good credit but not allowed a card

RebeeccaOh

Hi there,

I need help because I can't think of what else to do. The only reason I want a credit card is for the sake of having one, to build credit to hopefully get a mortgage in a few years.

I have been living in the UK 2 and a half years. Previously 6 months in Vancouver, BC Canada and originally from Dublin, Ireland. I have applied through my bank for a credit card for the first time as I have been lucky enough to never have needed one nor have I been in debt (student or anything else)

I have had my rent, bills, phone, union membership all directly debited from my account. I have also always been paid into my bank account.

My credit score on experian is 865/999. I have tried to add my Irish address and it won't let me, I have also contacted as their website said if I had lived in Ireland to co tact them - they replied UK only.

I'm really unhappy with how I've been treated fiscally since I arrived in the UK as the system just seems to go against me. The tax office never seem to get my pay code correct and I constantly have to call to make sure, the banks have been abrasive asking if I had a job in the middle of their lobby when I asked to make an appointment about discussing an account.

How, if I have moved country without a credit card or debt, always had direct debts, never needed a loan, never missed a payment or had an overdraft, not allowed enter a previous address from Ireland, have a decent 865/999 on experian and be employed can I not get a credit card to just have for the sake of having it so that I can get a mortgage??

Sorry about the saga!
Rebecca

Arleen

It's very simple - the credit score is meaningless even as some "internal indicative". What matter is your file and what is on it. But what also matter is 3 years of UK address history, which is something all immigrants go through when trying to get credit - I trully feel your pain.
What worked for me is to abandon the idea of online forms and going in person instead, then suddenly a lot more products were available to me.

Thrugelmir

RebeeccaOh wrote: »

How, if I have moved country without a credit card or debt, always had direct debts, never needed a loan, never missed a payment or had an overdraft, not allowed enter a previous address from Ireland, have a decent 865/999 on experian and be employed can I not get a credit card to just have for the sake of having it so that I can get a mortgage??

Totally impractical to verify a persons previous financial history outside of the UK. Like everyone else you have to start at the bottom and build one from scratch. There's no quick fix either. While time passes save and build a good deposit. The deposit opens far more doors than going into debt.

RebeeccaOh

Thank you for your advice @thrugelmir and @Arleen, I really really appreciate it. Driving myself mad trying o figure out what I haven't been doing.

@thurgelmir it may be redundant to check an international address but the experian website had recommended it, I would not be going into debt I was advised by the bank at 2 meetings to apply because direct debit is meaningless. It seems to be going in circles which is frustrating. I'm lucky I don't depend on credit at all, Thank you for your good advice, much clearer then any bank!

@arleen thank you for letting me know the time frame, the banks have been vague. Unfortunately I have been in twice on their recommendations and changes my account and only yesterday got an overdraft (that I won't be using) in an attempt to boost my credit standing. I haven't actually tried online because I thought the bank would be more helpful. It turns out that on my file it says I'm self employed rather than employed so I have to deal with that error in addition!

Thrugelmir

Experian make their money by collating data for business. In order to boost profits they expanded into the realm of consumer ratings. Unfortunately there's little value in what they provide. As they don't lend money. Financial organisation will set their own internal criteria based on a whole range of risk, commercial and regulatory factors.

Lenders have no need to chase business and take excessive risk. Days are long gone of selling credit like discounted cans of coke.

Arleen

RebeeccaOh wrote: »

@arleen thank you for letting me know the time frame, the banks have been vague. Unfortunately I have been in twice on their recommendations and changes my account and only yesterday got an overdraft (that I won't be using) in an attempt to boost my credit standing. I haven't actually tried online because I thought the bank would be more helpful. It turns out that on my file it says I'm self employed rather than employed so I have to deal with that error in addition!

Credit files hold only details about your credit, not employment status, so the self-employment must be what you've put on your application. But if you've put it incorrectly, or bank processed it incorrectly as self employed, then just ask them to update the status, rather simple thing.

And not used overdraft will not be a major positive in the file, try some builder credit cards instead. Aqua and capital one generally have very low barrier of entry, but if that is too high then you can always get the Secured card offered by capital one as a way to build credit. This one is given out to almost anyone as they will hold a deposit for the credit limit so the lenders risk is minimal, and yet it reports on credit file like normal credit card. So just use it, repay it in full every month and be patient. http://www.capitalone.co.uk/support/faqs/secured-card.jsf