New comer in UK and credit score funny story

Rocksolid

So asking for an overdraft is a good idea? Are we sure? If I were the bank I would look bad to the customer face for such request ahahhs, when you talk about overdraft is not the same as credit, you are already done when you used it...

I can even apply to multiple credit cards but the amount will be always low I think, and not in banks as said, just credit institutions, or even Amazon for example but that is another story...

I would be curious to know how a direct debit of a credit card is made it differently than a direct debit for a mobile contract for example, I didn't find info online, they are both periodic but for the cc it may not happen if I don't use it, so in the credit report will look differently as evaluation?

Ben8282

1. Nobody offers a maximum credit limit of £1200. £1200 is a representative example that all lenders are required to use in their interest payable examples.
2. Concerning the credit card. Use it. Wait for a statement. Repay it. Use it again. Pay the full statement balance each month to avoid interest.
3. An overdraft facility is a good idea but the overdraft should never be used.
4. A direct debit for a credit card is no different. Each month when you receive a credit card statement the direct debit will be taken the appropriate number of days after. Obviously if there is no balance because the credit card is not used the direct debit will not be taken. In the case of an unused credit card the payment amount for that period will of course be reported on the credit files as 0. I'm sure direct debits for credit cards must work the same way both in Italy and the other country where you were given a credit card with a Euro2000 credit limit after two months of residency.

eskbanker

Rocksolid wrote: »

I extimated 60 pounds for credit files because 20x3, it looks the average price of each.
So, should I really check all them? Damn, why there is no central institution for this important matter?

Check your three credit files without paying at https://www.moneysavingexpert.com/loans/check-free-credit-report/

Also worth reading https://www.moneysavingexpert.com/loans/credit-rating-credit-score/ if you haven't yet....

Rocksolid

Yes it is 561/710, and I believe is an approximation because official Institutions like Experian require 3 years full address history in UK to register myself there, so I will never know my credit score till 3 years, it means no credit before then, basically other 2 years of rent to pay .

That aproximation I don't even know if is good or bad, the app doesn't say anything...

Rocksolid

Sorry the previous message is a mistake and I can't remove it.

[Deleted User]

Rocksolid wrote: »

That aproximation I don't even know if is good or bad, the app doesn't say anything...

You'll know by looking at the data. Trouble is, you keep looking at the scores.

Rocksolid

I tried to remove the post but from the phone it doesn't work, or I have no permissions.

What about looking the data? How can I look my history if I can't neither register? I don't know what they hold about me, moneysavingexpert gives me just the score, and the cards I have and overdraft values, that for me is zero, I haven't any overdraft and all my banks show up there.

I have also the list of soft and hard checks, but what to do with them? I know that, I applied for few things, even the car insurance is there as soft check...

[Deleted User]

That is the data.

Your accounts and their history.

Ben8282

This is very confusing.
You say you can't register.
You say you can see the credit score, a list of the cards you have and the 'overdraft values', Not sure if by the term 'overdraft values' you mean balances or credit limits as you appear to be talking about credit cards and go on to say that you have no overdraft before confirming that your bank accounts are showing. You also say that you can see soft and hard searches.
What more are you expecting to see?

Rocksolid

All this comes from moneysavingexpert, that I remember is not an official Institution, correct me if I'm wrong, so that score for me is not reliable, the data instead I don't know how they can be useful... For sure I have enquiries for debt etc but it was for the bank account openings, as well as the credit card ones (these are hard checks).

The overdraft value is zero, because I have no overdraft, precisely should be null .
Credit card will show up this month, but I paid in full the first month so no issue.

I expect to know when I can apply successfully for a credit card or any other financial product like a loan or mortgage without being rejected.
My bank says that after 1 year I can do it, wonderful, others no one knows unless I open an count with them, and this is not even sure.
After this one year in my bank I may be also refused for such request, for whoever reason.
I would be curious to know the result if I had 50k in my account .