Best way to rebuild credit file

secretlysuffocating

Hi there
I have a couple of defaults on my credit report that are dated January 2019 and have both been paid off in full. I'm aware that they will sit on on my records for six years and that's something that I just need to suck up. My husband and I were turned down for a mortgage a couple of months ago. We were advised by our broker to try again after January 2021 (two years since default) as we would be in a more favourable position. So my question is this...what can I do to help my credit file look more attractive to prospective lenders? Do I take out a credit building card or do I just leave it alone and go with the age old saying of time is a great healer?

[Deleted User]

You need to build some god history and sensible use of a credit card is the easiest way of doing that.  The other thing you need is time.

Hopefully your broker is experienced in adverse credit.

sleepyjones

Obviously just make sure you're paying everything on time and don't use an overdraft facility if you have one.
Not sure having a credit building card, at this stage, will really help you that much if you're looking to get a mortgage in early 2021, you're first re-payment would be in November / December so it wouldn't have enough time to build up a good history.
Use a broker for your mortgage, I wouldn't bother going direct to Santander or TSB or any other high street bank.