A Current Account removed from credit report

Fred_Lewis

Hi Guys,

I have been observing my credit report regularly in recent months hoping to improve things. I owed money due to a student overdraft (it's been 10 months since I have settled the issue), however quite a few things have changed in my life like moving home, applying for utilities, phone, TV/ Internet contracts etc.

In my most recent credit report there is an entry that states

A Current Account has been removed from your credit report

Indeed, one of the two accounts I have open seem to no longer appear on the credit report. I must say that, since I moved house I did also update my banks with the new home address (could this be related?)

Also, as somebody who is very concious of what I had done in the past, but aware that I have fixed it I have also registred myself on the electoral roll, but I am too afraid to apply for a credit card. S

Should I wait until the start of the new year, would have been 1 year since the hick-up and apply then or do I just try whenever I have 5 minutes?

I'm scared that regardless of what I am doing my credit score doesn't seem to go up and its frustrating me!

Any advice will be appricaited.

[Deleted User]

Apply for a card now - one search is not an issue - but apply in the right place - eg aqua, Vanquis, etc, if your credit history is patchy.

Also understand that your credit score is a made up number. It doesn't reflect your credit worthiness any more than your horoscope.

Fred_Lewis

Deleted_User wrote: »

Apply for a card now - one search is not an issue - but apply in the right place - eg aqua, Vanquis, etc, if your credit history is patchy.

Also understand that your credit score is a made up number. It doesn't reflect your credit worthiness any more than your horoscope.

That's a good way of looking at it. I have applied for a number of these utilities all of which check your credit score, to what extent, I have no idea, but I haven't been rejected.

Should I be using the eligibility calculator on MSE Website to see what card I am most likely to be accepted for?

[Deleted User]

Fred_Lewis wrote: »

I have applied for a number of these utilities all of which check your credit score, to what extent, I have no idea, but I haven't been rejected.

None of them check your credit score. It's little secret that only you get to see. Lenders don't see it as it's useless.

The MSE eligibility checker is a decent starting place.

Willing2Learn

Hi Fred Lewis and welcome to the forum,

Fred_Lewis wrote: »

...one of the two accounts I have open seem to no longer appear on the credit report...

...I am too afraid to apply for a credit card...

If I had a current account missing I would be checking with the bank to make sure they are reporting correctly. Once that was confirmed I'd contact the CRA to inform them of the error that needs correcting. I'd also check with the other two CRAs to confirm what they have recorded on their files.

Since you have a limited credit account history you will probably require a sub-prime credit card. Such as CapitalOne, Aqua, Tesco Foundation and there are others too. Nothing to be afraid of. Just use the card at the supermarket during your normal shop and then pay off the balance in full after the statement has arrived. Just spend on the card for stuff that you have budgeted. Having a Direct Debit for the full balance is the best fool-proof method of making sure it gets paid on time.

Fred_Lewis

Willing2Learn wrote: »

Hi Fred Lewis and welcome to the forum,



If I had a current account missing I would be checking with the bank to make sure they are reporting correctly. Once that was confirmed I'd contact the CRA to inform them of the error that needs correcting. I'd also check with the other two CRAs to confirm what they have recorded on their files.

Since you have a limited credit account history you will probably require a sub-prime credit card. Such as CapitalOne, Aqua, Tesco Foundation and there are others too. Nothing to be afraid of. Just use the card at the supermarket during your normal shop and they pay off the balance in full after the statement has arrived. Having a Direct Debit for the full balance is the best fool-proof method of making sure it gets paid on time.

Thanks for your response, as I say its not been that long ago since I updated my Bank Account Details. Now, as far as the Credit Referencing Company is concerned they still have my previous address on file as per what the app I am using to view my credit score is stating. Again, unsure how long it would typically take for this stuff to update!

As per the credit card, I never used one, I used to have one assigned to me, but I never even activated it, but that was cancelled when the student overdraft issues were in place.

Again, should I be using the eligibility calculator to view my "chances" of a credit card?

Willing2Learn

Fred_Lewis wrote: »

...should I be using the eligibility calculator to view my "chances" of a credit card?

Yes Although, if you apply for a card from one of the companies I referred to earlier you would stand a good chance of being accepted. The credit limit will be low, something like £250-£500. CapitalOne even do a secured card where you pay a returnable security deposit before they send out the card.