Credit Report, Electoral Roll

CazMc_3

Hi,

I was wondering if there was somebody out there who could help me. I have never had the best credit rating as through really bad times I had to default loan payments etc and as a student I moved flats a lot......every 6 months which I know does not help. However, I do not have much debt left at all now and am paying back £180 every month. I thought this would be ok to get an emergency credit card but I was refused, I therefore decided to check out if my name was on the Electoral Roll. It will be on there from the 1st December, do you think this will help me get credit?

Thank you
Caz

System

CazMc wrote: »

Hi,

I was wondering if there was somebody out there who could help me. I have never had the best credit rating as through really bad times I had to default loan payments etc and as a student I moved flats a lot......every 6 months which I know does not help. However, I do not have much debt left at all now and am paying back £180 every month. I thought this would be ok to get an emergency credit card but I was refused, I therefore decided to check out if my name was on the Electoral Roll. It will be on there from the 1st December, do you think this will help me get credit?

Thank you
Caz

It will certainly help - some lenders automatically refuse applications if you are not on the electoral roll.

However credit scoring systems are complex and varied and there are many factors taken into consideration. Companies are very secretive about their individual scoring systems so it is difficult to determine what they are looking for in a customer.

Try and apply for a card once you're on the electoral roll and see what happens - if you are still refused, get a copy of your credit files to see if there are any problems on there.

Good luck

UNDERGROUND

inmypocketnottheirs

It is certainly easier to get credit when on the electoral roll than when not. It will improve your chances. What was the rest of your credit file like?

CazMc_3

Thank you for your advice:j Basically I am paying off a Visa Card debt and an old student overdraft (evil things!!!) but because I have moved every 6 months for basically the last 5 years this has not helped and I know that one of the reasons I was refused was because they could not verify an address. I now just have a basic account with Nat West and am on a decent salary. It is all looking a lot better but I am hoping to go to NYC in June 2008 so a credit card would help!!

Caz

System

CazMc wrote: »

Thank you for your advice:j Basically I am paying off a Visa Card debt and an old student overdraft (evil things!!!) but because I have moved every 6 months for basically the last 5 years this has not helped and I know that one of the reasons I was refused was because they could not verify an address. I now just have a basic account with Nat West and am on a decent salary. It is all looking a lot better but I am hoping to go to NYC in June 2008 so a credit card would help!!

Caz

Did you ever miss payments or default on your Visa card or go over your overdraft?

You're right about moving about frequently affecting your credit score, I had this problem when I first moved to London.

Unfortunately the only thing that will help your credit rating is time and good behaviour!

If you want a credit card for emergency use have you tried to apply for a card with the likes of Capital One, Vanquis or Aqua? Horrible APRs but if paid in full each month will help strengthen your rating.

Regards
UNDERGROUND