trying to repair my rating - more harm than good?

tomjeffery

i have just applied online for an aqua card and got rejected, so have tried with vanquis and they have said they can't give a decision online and will contact me in 10-14 days.

i don't really need a card but i know i have a bad rating and so was applying for a 'bad credit' CC to try and improve my rating by using and paying off in full every month.

obviously i won't try any more CC companies as i don't want to make it worse by having lots of searches. i'm a bit worried that even the worst CCs may be out of reach to me!! have i done more harm than good?

tikka9

try capital one, my son is a student and has managed to get a bad rating just from applying for cards and getting refused. he was told he would hear in writing and has just been accepted for £100 credit limit so he can now start using it and gaining a better credit rating. hope this helps

CLAPTON

it all rather depends upon why your credit rating is poor. What exactly do your credit files say.

edasilva846

tikka9 wrote: »

try capital one, my son is a student and has managed to get a bad rating just from applying for cards and getting refused. he was told he would hear in writing and has just been accepted for £100 credit limit so he can now start using it and gaining a better credit rating. hope this helps

I got one from them with initial limit £100 about four months ago. I wasn't very pleased with that but they told me if I run it well, eg, making at least the minimum payment, not going over my credit limit,etc. They will increase the limit on my 4th statement, which they did yesterday! from £100 to £500! Yuppie!

Zebedee69

It depends why your report was so low? To be honest a £100 limit is very low so you should get a copy of your report and be certain what you need to repair.

Eventually you will be looking to obtain a number of different credit avenue's (Visa Credit Cards, Overdraft, Store Cards, Loans) as well as a proper current account with VISA debit and Mastercard Credit Card. Read the info Martin has written on the above types of credit. Its easy to be stung!:j

Good Luck, im on the path to credit building and its coming along fine!