Bad Credit Credit Card to improve Credit Rating

SalfordSlim

Hi,

I've got a lot of previous bad credit due to unpaid bills, Payday Loans, CCJ's etc etc, however I've cleared all these off over the past couple of years and done everything I'm aware of to try and get my credit file in the best possible shape.

As far as I know I've got nothing outstanding debt wise (I check all the credit check sites each month), except an old education loan which is being paid off monthly (and it doesn't show on my file) yet I'm really struggling to get my credit score up. I'm on the electoral roll, my CCJ's have dropped off my credit account (as over 6 years old) so the only thing I think of doing to boost my score is to get a credit card. This isn't an issue as I would get a low limit, I'd rarely use it and I have the means to pay any balance off on a monthly basis.

From experience, does anyone on here recommend any particular card and does getting a card and paying off the balance regularly and on time genuinely help boost your score?

For info my Clearscore is only 326 (national average is 414) at the minute and I really want to get it up for the main purpose of renting privately as I think I'm likely to get rejected at the minute with my score being so low.

Any advice gratefully accepted!:beer:

Cheers

Slim

eskbanker

Don't fixate on the score as it's essentially an arbitrary number that isn't seen by lenders.

https://www.moneysavingexpert.com/credit-cards/bad-credit-credit-cards/ seems to be the best place to look for cards that might suit your circumstances, including eligibility checkers.

SalfordSlim

Thanks I've looked at the cards on offer via that link previously. Just wanted any individual opinions from people that may have used any of them. Won't touch Vanquis or any of their subsidiaries with a bargepole though due to previous experience!

[Deleted User]

Any cards will help build history and as long as you're clearing in full each month, you'll have no issues with any of them.

[Deleted User]

SalfordSlim wrote: »

Won't touch Vanquis or any of their subsidiaries with a bargepole though due to previous experience!

Which was?

SalfordSlim

It was a Vanquis card years ago. Ridiculous APR, loads of hidden charges and generally terrible customer service.

robber2

SalfordSlim wrote: »

It was a Vanquis card years ago. Ridiculous APR, loads of hidden charges and generally terrible customer service.

But as you will be paying the card off in full every month (won't you?) APR and charges will be of no relevance to you.


Rob

[Deleted User]

APR is irrelevant if paying off in full each month.

Not sure what "hidden charges" you are referring to - they would all be outlined in the Terms and Conditions etc.

I can only assume you're referring to late fees or overlimit fees...?

cymruchris

I've had a Vanquis card for well over a year now - never paid a penny of interest - and not a single charge for anything. They started me off on a credit limit of £400 - and after a few months of buying/paying back in full - raised my limit to £2000. That was my first sub-prime card.

I then went for Aqua - who turned me down on my first application - but I waited two months - tried again when some of the negative data on my files had dropped off - and was accepted. Again a starting limit of £400 - and then a few months of buying and paying back in full - they upped the credit limit to £1700.

I then added a Capital one card - they gave a credit limit of £400 and a few months later it went to £550 but that's as far as it went. I tried for a Capital one Luma - they also gave £400 but it hasn't budged from there.

Most recently I took the Barclaycard Forward and that gave an initial limit of £1200 - but is very new - so don't expect any changes there for a while.

Have you tried the eligibility checkers to see the likelihood of being approved?

Ben8282

If you have previously defaulted with Vanquis and they had to get a ccj then maybe they don't want to touch you with a bargepole either.
If defaults and ccj's have now dropped off then you should be in a reasonable position to obtain credit again.
Other than for your own amusement, don't pay any attention to the meaningless credit scores as nobody except you will ever see them. It is the information on your credit files (or perhaps lack of it) that lenders will see.
You need some accounts. Do you have a mobile phone contract? A SIM only contract should be easy enough to get. Do any utility bills show? Do you have a current account with a bank? Does that show?
As suggested apply for a credit builder card. Apply to a lender that you have never defaulted with as lenders own internal records can have longer memories than the credit files.

Takmon

SalfordSlim wrote: »

It was a Vanquis card years ago. Ridiculous APR, loads of hidden charges and generally terrible customer service.

The APR and "hidden" charges will have been clearly documented in your credit agreement. If you still feel the charges were "hidden" then you should spend some time researching credit cards and how they work before you attempt to get another one.