Advice please!

[Deleted User]

Then why are you checking eligibility checkers?

Credit repair takes time - even once a defaulted account drops off things aren’t instantly fixed after 6 years of “hardship”.

And it’s a public forum - I’m allowed to post.

[Deleted User]

Lolly18 wrote: »

Yea I thought that might be the issue,

I just think imagine if I was paying £150 a month ( and any extra I could afford) off a 0% card it would be cleared in no time.

And just to add I will be closing the marbles card once it’s balnce it’s 0

No one needs a £2950 limit at 49.9%

Lolly

Keep the card as it adds to your credit history and account longevity.

If used properly, I.e use for monthly purchases and pay off in full after each statement then you’ll pay no interest and also shows to lenders you can repay credit on-time.

[Deleted User]

Lolly18 wrote: »

And just to add I will be closing the marbles card once it’s balnce it’s 0

Don't do that.

Lolly18

Guys I really don’t want the temptation

Once the balance is transferred to hopefully a 0% offer I plan on paying that off and getting nothing else on credit.

@gary I do use my Barclay card intial every month and pay it off in full atm

[Deleted User]

Limits on Barclaycard and Cap1 are incredibly low for your salary. Marbles limit on it's on shouldn't be causing many problems, although the balance would be as zx81 says.

You could try seeing if Marbles will up your limit - that will then bring your utilisation down. Although I doubt they will as it's maxed out.

Any chance you could borrow money from family? DFW to cut that ASAP will greatly help you, then you should see offers literally start to spring up as your accounts get older and util gets lower.

RE: Lloyds - do you actual transfer money into it? I have a bankruptcy (and defaulted quite a bit with Lloyds/Halifax) - have recently been given £200 ODs on both my Lloyds & Halifax accounts. Nothing special, and they won't give me a card yet, but I'd be leaning towards them as your main bank if you're looking for decent cards.

From my understanding Barclaycard and Barclays internal scoring aren't linked, so running your Barclays account perfectly won't help you get a better Barclaycard (as has been proven by awful limit!) - but running a LBG account perfectly would help you get one of their cards/loans - plus you can see on their online banking quite clearly if you're approved.

100% keep Marbles even when it gets to £0 - even if you cut the card up and just don't report it lost, it'll report as active and up to date (so good conduct) for months afterwards

Maybe give Barclaycard a call and see if they can offer anything on their main range - run through that you've kept up all payments etc etc

I imagine it's balances + having to declare childcare on apps, so for example your credit is much better than mine, but your income at £36k isn't as high as it appears due to costs.

Sadly it will take time, but if you can chip away at Marbles it'll help.

Lolly18

I earned £34060 last year it varies quite a bit due to bonuses each month I’m on to earn about 37000 this tax year hopefully.

Can’t borrow money from family unfortunately I’m a lone wolf

I use the Lloyds for DD’s bills etc and the Barclays for spare cash that I spend on food etc

Im going to post in the DFW board with a breakdown of everything tonight so would be great full if you all could follow there you’ve been great so far

I just want a decent 0% offer so I can clear this cc debt!

Lolly

[Deleted User]

Good luck with it all

If you aren't using Barclays Rewards etc (which it seems not as your DDs are with LBG) then I'd definitely recommend moving all your spending to Lloyds - including the spare cash.

That's assuming your income is paid into Lloyds, and you run both accounts well (not getting rejected payments/fees etc).

Reason being -

- Banks look at average credit balance, by moving money out to Barclays you are lowering Lloyds' rating of you (only slightly maybe, since I do the same and got an OD - but it certainly doesn't help)

- Banks will profile you based on spending - if all your income is going into that account and you are paying all bills, shopping, CCs etc from it, that can only be a positive (assuming no excessive gambling/lottery purchases) - they also know how much you actually spend, rather than guessing on ONS data etc because they don't have access to your shopping transactions.

- Balance should increase month on month or at least stay higher than it is now.

All of those reasons would be positively addressed by you just using the 1 account. In turn that (with your monthly credit file feed on/around 21st) feeds into whether they will or won't give you an overdraft, Card, Loan etc.

If you want to keep money seperate to ensure you don't spend it (e.g. savings) you could open a LBG savings account and transfer between the two - but with such an expensive Marbles debt, priority has to be on chopping that down as much as possible rather than saving

You'll get there, and once your little one gets the 30 free hours next year and you're declaring nil/minimal childcare, with much lower balances, you'll start seeing really good offers.

Too late to BT this debt when you're in need, but that's how the system screws people - you can always make some of your "money back" next year with cashback cards etc!

Lolly18

Thank you for your advise Somerset! Really informative!

Be sure to pop over to my post in DFW

Lolly

Lolly18

Iv decided to just carry on posting here with updates on my situation.

I’m literally going to throw every single spare penny I have at the marbles card.

Working my money out this month if I do well with bonuses I should be able to pay £850 off the marbles card. That will leave me £450 for the month with everything paid.

My mum has kindly said she will have my daughter 2 days a week (this is all she can do with her working also) so that cuts a nice chunk off my nursery bill.

So the balance as of now is £2795.

I will also update the on any offers I get going forward for advice on what to take

Lolly

Lolly18

So

Default still showing on Equifax this morning.

Called them and they informed me it’s not due to be removed until 01/01/2020!

I explained 6 years from 01/01/2013 is 01/01/2019. Went to a manager and he confirmed I was correct.

Account will be removed in 24-48 hours

Annoying

Lolly