bad credit rating

wobble01

hi,
i have always been seen as having a bad credit rating, but i am unable to reverse this because i cant get any credit cards or loans. i know that this is a vicious circle and hard to get out of but i have taken your advice before and applied for capital one cards etc. but because i do not have any bills coming into my house i cannot get very far with my registerting. i am only 21 and i am worried that this will affect me later when i want to buy a house etc. the capital one card asked for a bank statement and manybe a telephone bill but because i still like at home i dont have a landline bill, and they dont accept mobile bills. i have been given an egg card before but i paid it off and cancelled the card. now when i applied again i was told i didnt meet their requirements.
do you have any advice for me?

smartsaver

Hi and welcome

Firstly I would make sure you are on the electoral role as this improves credit ratings.

You may have been turned down by EGG as you canx a card in the recent past. Often a time limit applies before you can apply again.

If you don't have one get a current account - if you do what was the problem with providing statements to capital one? If you have ben going overdrawn try to stop now.

Once you have a bank account try capital one or even Monach or Vanquis. Buy a small amount of necessities and pay it off in FULL each month. Make sure the payment is received on time and never exceed your credit limit.

You may find this web page helpfull.

http://business.timesonline.co.uk/section/0,,18669,00.html
Hope you get it sorted

richiethekid

I'm in the exact same situation as wobble. I actually applied for a Capital One card a while ago and was approved, but asked to pay a £200 deposit. I couldn't afford this so I've shelved it for the time being. Don't much fancy a Vanquis card. What's this Monach (or is it Monarch?) card? Couldn't find anything on the web.

grumbler

You can try Barclaycard Initial :

'At Barclaycard, we believe everyone should have the opportunity to get a credit card with flexible monthly payments. That’s why we created Barclaycard Initial.

If you have had credit problems in the past Barclaycard Initial can help you make a fresh start and build your credit rating. ....'

boogiemaster

Barclaycard are not true to their word on giving everyone a chance? I’ve known a lot on here being turned down, and I’ve also been turned down as well.
Capital one gave me a card with no deposit and no proof of address, at least that’s something.
Capital one gave me a chance and the limit is only £200 but at least I have a credit card, that’s a start to building my credit limit and getting a higher increase later on, and also a better card soon.

It makes me laugh when people say I only got £3500 limit from egg or £7500 from Nat west? It’s a lot better than £200 and still you moan?

Tell Egg that you had their credit card before, and your payment history was excellent.
Just ask them to check their records and they will see? Just ask them to reconsider your application again.

Capital one, tell them that you don’t have any bills in your name and could they come to an agreement of some kind? Suggest a deposit for the credit card.
Send them a copy of your driving license a Doctors letter saying that they know you.
Or get your parents to co sign an agreement for a credit card, maybe open an account and ask the bank to give you a credit card on the condition that you put in a deposit and it stays until they are happy with you account.
Anyway good luck