Best Bad Credit Card

wyattjnr

So I am coming out of a dark period in my life where I suffered deep depression and basically did not do anything with my responsibilities such as finances etc. I have a very bad credit score and am on a DMP with Stepchange and have been sticking to that rigorously.  A couple of the creditors despite getting their monthly payment have put me down as defaulting, so I have those on my file.  
I am now in a position following the sale of my house to pay off the debts and I want to try and rebuild my credit score through a credit card that I pay off in full every month.  Doing a bit of research it looks like even the obvious companies don't allow customers to have cards of they have defaulted within the past 12 months, which I have.  
Does anyone know of an alternative or do I just need to wait for a year to pass on the defaults?
Thanks

Willing2Learn

I assume you have tried an eligibility checker with a sub-prime card such as CapitalOne and Aqua?

wyattjnr

Willing2Learn said:

I assume you have tried an eligibility checker with a sub-prime card such as CapitalOne and Aqua?

I had a look at Capital One and it stated allowed defaults as long as they were over year old. didn't take it any further.

Willing2Learn

Where does it say defaults had to be over one year old?  I can see the following:

We're more likely to accept you if you:

• Are over 18
• Have some history of managing your credit even if you have had CCJs or defaults in the past
• Are on the electoral roll

We're not likely to accept you if you:

• Have not had credit in the UK before
• Have declared bankruptcy in the past 12 months

foxy-stoat

Vanquis springs to mind, they are a bad credit card.

cymruchris

Vanquis or Capital One are usually good place to start - you should try the eligibility checkers - as they won't leave a 'hard search' on your file - so that you can see the likelihood of acceptance before making an application. If they say no on the checker - then wait a few months and try again.

StepChange_Ciaran

wyattjnr said:

So I am coming out of a dark period in my life where I suffered deep depression and basically did not do anything with my responsibilities such as finances etc. I have a very bad credit score and am on a DMP with Stepchange and have been sticking to that rigorously.  A couple of the creditors despite getting their monthly payment have put me down as defaulting, so I have those on my file.  
I am now in a position following the sale of my house to pay off the debts and I want to try and rebuild my credit score through a credit card that I pay off in full every month.  Doing a bit of research it looks like even the obvious companies don't allow customers to have cards of they have defaulted within the past 12 months, which I have.  
Does anyone know of an alternative or do I just need to wait for a year to pass on the defaults?
Thanks

Hi

I have seen your post on MSE and wanted to offer some advice.

It sounds like you've done a great job with the DMP and are now in a great position to clear the balances remaining and have a fresh start.

The defaults on your credit file will only remain there for a period of six years.  They will fall off after this period and you will immediately notice an improvement to your score.  You can also ensure your credit file is updated once your balances have been cleared.  You can do this with the credit reference agency.

Each balance should be registered as default resolved or settled – again this will result in some improvement.  

Again, all defaults will be removed in time automatically.

Ciaran