Credit score not showing any credit?

leostar

-- Thanks this has been resolved now! --

[Deleted User]

First thing to establish is that you don't have a credit score or rating. You just have 3 files (from each of the CRAs), that lenders will look at when you make an application.

Lenders will want to see address stability, so remove any inaccuracies.
Keep at least 2 cards open and use regularly, clearing in full each month. You may want to keep more open, but this depends on the ratio to your debts and income.

Rejections don't show on your file - only searches.

ViolaLass

What's your salary?

Nasqueron

You might do better trying to get one of the money transfer cards from the lower end of the market to get 0% cash transfer to pay off say the OD and then work on the CC. Close the unused cards as that counts against your affordability as you have lots of potential credit even if you don't use it

leostar

Deleted_User wrote: »

First thing to establish is that you don't have a credit score or rating. You just have 3 files (from each of the CRAs), that lenders will look at when you make an application.

Lenders will want to see address stability, so remove any inaccuracies.
Keep at least 2 cards open and use regularly, clearing in full each month. You may want to keep more open, but this depends on the ratio to your debts and income.

Rejections don't show on your file - only searches.

Thank you - that clears things up for me a little! I have made sure to correct my address on everything I can think of, so will have to wait and see if that makes a difference.

ViolaLass wrote: »

What's your salary?

24k

Nasqueron wrote: »

You might do better trying to get one of the money transfer cards from the lower end of the market to get 0% cash transfer to pay off say the OD and then work on the CC. Close the unused cards as that counts against your affordability as you have lots of potential credit even if you don't use it

I considered this first, and it's still an option. But I need to shift the CC debt again to avoid paying interest so I will need to get two cards and I'm not sure if more cards is a good idea or not. Thanks, I think I will close the cards I no longer use.

DCFC79

Why are you in your overdraft ?

Might be a big turn off for lenders.

On a salary of 24k surely you should be able to clear the overdraft in a number of months. Cut back on the spending.

leostar

DCFC79 wrote: »

Why are you in your overdraft ?

Might be a big turn off for lenders.

On a salary of 24k surely you should be able to clear the overdraft in a number of months. Cut back on the spending.

It's from being a student. I have very high bills and living costs at the moment. But this is a personal issue that isn't really relevant to my question. I am throwing all I am at getting rid of the debt, I'm just weighing up my options for how best to store the debt whilst I pay it off.

DCFC79

leostar wrote: »

It's from being a student. I have very high bills and living costs at the moment. But this is a personal issue that isn't really relevant to my question. I am throwing all I am at getting rid of the debt, I'm just weighing up my options for how best to store the debt whilst I pay it off.

I think the only option is a card with 0% if you can get 1.

leostar

DCFC79 wrote: »

I think the only option is a card with 0% if you can get 1.

Thanks, I am starting to think the same thing. I guess I will just have to wait and see if the address issue puts my credit back up to good or if there's a bigger issue where I have actually damaged it. It's not the end of the world if not, as you pointed out, it's a relatively manageable amount with my salary should I put my mind to it.

DCFC79

leostar wrote: »

Thanks, I am starting to think the same thing. I guess I will just have to wait and see if the address issue puts my credit back up to good or if there's a bigger issue where I have actually damaged it. It's not the end of the world if not, as you pointed out, it's a relatively manageable amount with my salary should I put my mind to it.

Its not to do with your credit back up to good but more the address is correct so when you apply you use the same address thats on your credit file.

Dobbibill

You say you moved in October but haven't updated your CC/Bank accounts yet.

Have you updated the ER?

Living in your OD will impact how lenders view you. OD facilities are for short term borrowing and demonstrate your ability to live within your means month by month......or not.

If you have CC open with zero balances, see if they have any existing customer offers such BT or MTs so you can move the debt around and get it on a lesser APR.