Help! Don't Qualify For A Rebuilder Credit Card

lilacbrook

Hi

I hope you will be able to help me. I'v just done the credit card check on the site as I wanted to get a rebuilder card i.e. Aqua to repair my credit rating, and the results have come back saying I can't get any of the cards. )-:

I don't know what to do as it was suggested this was the best way for me to start rebuilding my credit by Experian.

Any advice offered would be truly appreciated.

Many thanks - Lilac

Arleen

If your history is bad enough that you don't qualify even for aqua card then the only option would be capital one secure card or, even better, to just wait and save, and reconsider your position in year or two when your credit history will improve.

Anthorn

lilacbrook wrote: »

Hi

I hope you will be able to help me. I'v just done the credit card check on the site as I wanted to get a rebuilder card i.e. Aqua to repair my credit rating, and the results have come back saying I can't get any of the cards. )-:

I don't know what to do as it was suggested this was the best way for me to start rebuilding my credit by Experian.

Any advice offered would be truly appreciated.

Many thanks - Lilac

Two threads now which use the word "rebuilder" applied to credit building cards.

The three Aqua main credit building cards are not as easy to get these days as they once were. Try an Aqua Start or Vanquis. The APR will be hefty but meaningless if you clear the balance every month.

Other ways to rebuild:
A JD Williams catalogue account
An Argos store card
A mobile phone contract - try a rolling 1 month contract with a main network such as Vodafone, O2 or Three.

Good luck.

lilacbrook

Thanks, great advice and have clarity on the steps I need to take.
:j

onthefencepost

I can echo the above - ive got a Aqua start, although i got accepted immediately I did also take out a Argos Card and JD Williams and it certainly allowed me to build up a credit history quicker. Although I dont use the Argos card and the JD Williams account anymore i managed to get several credit card increases and recently a Tesco foundation card.

My aim was always to have two cards which i can put my daily purchases on and pay in full so that i can get a mortgage int he coming years. It takes time for sure but providing your managing your account and well by paying it in full it will stand you in good light.

Anthorn

Personally I went to the wall in 2008 as did many others due to the financial crisis and as the previous poster says it's a long haul. In my case 7 years. It gets easier as you go along and these days I'm proud of what I have achieved. Still not finished but close.

Paul_the_Painter

Also worth checking all the relevant things on your credit report.
I.e. are you in the electoral register?
Is your address correct? (And the same one, including spelling/formatting used on the application)
Do your utility bills show up?
Is your phone contract on there?
If you have a landline did you put it on the application?

These all build a picture of you, none of them mean an outright yes/no, but shakey credit history/electoral register/no other credit(which a utility bill is!) Will more than likely lead to a decline. There are some lenders that refuse to lend to anyone not on the electoral roll apparently.

stuart30

Strange you guys suggest getting an Argos Card...Both myself and the wife have been refused Argos card (store card) yet both excepted with Vanquis and Capital one.


Network Three in our Experience have been the easiest contract providers...im not sure they even bother credit checking you,if they do they must be very very easy going.

Victoriamia

A really good thing which I used to get my credit rating up
I had so much debt from when I was 18 and an ex boyfriend financially controlled me and had me take out phone contracts and credit cards and left me in the lurch
I had a horrific credit rating couldn't get anything.
I took a SIM card only contract with O2, it doesn't go off your credit rating.
After 6 months you can upgrade the contract to a phone contract regardless of your credit rating as long as you have been paying bills on time etc
A phone contract seemed to help my credit rating and after paying it for a few months I got accepted for vanquis. Then Luma then Aqua.
I'm only using these credit rebuilder cards until I have a history with them and my credit rating is much better to get a decent card with much lower Apr
I do believe all this was from the phone contract as before I had the sim only and upgraded it I couldn't get accepted for ANYTHING at all

Anthorn

stuart30 wrote: »

Strange you guys suggest getting an Argos Card...Both myself and the wife have been refused Argos card (store card) yet both excepted with Vanquis and Capital one.


Network Three in our Experience have been the easiest contract providers...im not sure they even bother credit checking you,if they do they must be very very easy going.

Argos card was for me the halfway stage between catalogue, mobile phone, sub-prime card etc., and prime credit cards.

A mobile phone contract being easy to get is only half the story: They also have to report to the CRAs. Try IDMobile SIM Only monthly rolling contract from Carphone Warehouse on the Three network. It's cheap and they report as "Carphone Warehouse (ID)".
https://www.idmobile.co.uk/

tanya2014

Hmmm
Not all info here is necessarily correct!
I was not accepted for Argos or JD Williams
I did however get a Barclays Initial Card
Credit limit started at £150 and has risen so far to £1,600
Out of interest I tried Argos and JD Williams again and was still declined!