What should i do now ??

tomo245149

Hi all im a newbie to this forum and am hoping for some good advice i'll start with the first question and end with the last ,funny enough

I am down to my last debt of 750 pounds taken me a while to get here but made it (original debt 6'700 pounds) , now more problems lie ahead as my credit rating is really really bad i need bank accounts ,saving account ,what i can and can't do and is there a guide to rebuilding your credit score
(currently on goverment benefit due to work related accident)

i need a bank that will touch me don't want a check book or overdraft but a debit card that works in a shop and online would be great?
(declined from abbey and natwest) only basic current account was offered with cash card

will opening a saving account have any problems due to my bad rating?
(want the same rate as everyone else)

how can i start building a credit score again?
(and is there things i shouldn't do like applying to much?)

itsnever2lateisit?

tomo245149 wrote: »

Hi all im a newbie to this forum and am hoping for some good advice i'll start with the first question and end with the last ,funny enough

I am down to my last debt of 750 pounds taken me a while to get here but made it (original debt 6'700 pounds) , now more problems lie ahead as my credit rating is really really bad i need bank accounts ,saving account ,what i can and can't do and is there a guide to rebuilding your credit score
(currently on goverment benefit due to work related accident)

i need a bank that will touch me don't want a check book or overdraft but a debit card that works in a shop and online would be great?
(declined from abbey and natwest) only basic current account was offered with cash card
That may be the best you can do for the moment. You could couple it with a prepaid mastercard, they cost a bit but are usuable online and in shops (try the post office)
will opening a saving account have any problems due to my bad rating?
(want the same rate as everyone else)
Savings are nothing to do with credit so you should have no problem here
how can i start building a credit score again?
(and is there things i shouldn't do like applying to much?)

You might be able to get a credit card with a low credit limit, but they will have a very hig APR so pay off in full, this will over time demonstrate your ability to manage credit and improve your rating. Take a look at Martin's article on this. It is best not to make too many applications in a short period of time, so be careful when choosing a provider to apply to

Shineyhappy

Welcome to MSE! Congrats on nearly becoming debt free!

Here is the link:

http://www.moneysavingexpert.com/banking/credit-rating-credit-score#improve