Rebuilding credit score/history post BR

Suzanne83

Hi,

My husband and I were recently declined a mortgage due to our previous bankruptcy and (assumingly) the fact that we have little/no positive credit history since discharge nearly 4 years ago. We both have now got a credit card which we will pay off in full each month. I have also started to pay for car insurance monthly rather than annually.

Hopefully this will prove to lenders that we can manage our money and build up our credit history. I’m aware that the score is irrelevant.

Does anyone know how long we are best leaving this before applying again? Are we better trying to get more credit, either a loan or telephone contract for example.

Any advice would be appreciated.
Thanks,
Suzanne

[Deleted User]

Your car insurance probably won’t appear on your files.

Doing the credit card thing is right - get a sim-only contract as well for your phone.

Some tv and broadband providers also report to CRA’s.

Also your current account will.

[Deleted User]

Also how long have you been bankrupt?

Do you have your own credit card accounts or one card with an additional card holder?

[Deleted User]

Never get a loan to build credit history. It demonstrates to lenders you have no savings and are higher risk.

Suzanne83

Thanks for your replies. We went bankrupt in June 2013, discharged June 2014.

Thanks,

Suzanne