Credit Ratings - Please help

[Deleted User]

Hi everyone. I am hoping somebody can shed some light on how these credit reports work.

I am a bit of "card tart" and have been doing so for several years. I have a good credit history, always pay bills on time and I always get accepted when I apply for credit cards.

This was until I moved house in April and so it's the only thing I can think of as the reason why now I cannot get any credit cards. I keep on getting the unsuccessful letters.

I've just got a credit report from Equifax and noticed that I am not on the Electoral roll for my new flat (it has my previous records but no current records). I remember filling in the electoral form a few months back for my new place.

Any ideas? Am I barking up the wrong tree? If not, how can I resolve this, who do I call?

Thanks in advance.

Karl

taless

Hi Karl,

My understanding is that the local councils only update their info to the credit referencing agencies (Equifax & Experian) once a year, in Oct if not mistaken.

I recall reading some other posts in this forum, for someone who was in the same position as you - get a letter from the local council (that you are in the electoral roll) and then send it together with a dispute letter to the CRAs and ask them to correct the info they hold about you.

Moggles_2

You will have disrupted your credit rating temporarily by moving house. Lenders like stability, so best practice is to apply for credit cards before you move, change banks or change jobs.

The fact that you're not on the electoral roll (as far as Equifax is concerned) also works against you. Lenders score us differently, but everyone's credit rating improves no end once registered.

You can inspect the electoral roll at your nearest public library. Pay particular attention to the way your details are recorded. An extra line may be inserted/omitted if, for instance, you live in a block of flats.

If you're not on the register, it's possible to enrol each month from early December until mid-August, using the rolling register procedure. If you type "electoral roll" and the name of your council into google, you'll be directed to the relevant pages on your local authority website. Most council websites are set up so you can register/amend details online or download a form. The majority include an explanation of how the register is compiled and when your name will appear.

kitchen_buff

Two things, firstly you should contact the electoral roll dept at the local council to check on progress, secondly it has been on the news recently that c/card companies are having a greater refusal rate due tho the bank financial credit issues, I.E they borrow the money to pay the companies that you buy from, but the banks that lend the money to the card companies have drastically reduced there lending, so this could be adding to your problem.

[Deleted User]

Thanks all, I will call the council and see what they say.