Recently moved to the UK and not eligible for credit cards & want to build the score up. Help?

CKhalvashi

I'd argue that it's only going to be the cost of a stamp, printing a sheet of paper and photocopying some statements, so well worth a go.

OP has likely failed on identification rather than credit history, so being able to show a stable income and residential history over the space of a few months is likely to be helpful.

Jamesyb123

CKhalvashi said:

I'd argue that it's only going to be the cost of a stamp, printing a sheet of paper and photocopying some statements, so well worth a go.

OP has likely failed on identification rather than credit history, so being able to show a stable income and residential history over the space of a few months is likely to be helpful.

It could be that I suppose but usually if it’s ID issues they don’t reject you they just ask for ID

CKhalvashi

Jamesyb123 said:

CKhalvashi said:

I'd argue that it's only going to be the cost of a stamp, printing a sheet of paper and photocopying some statements, so well worth a go.

OP has likely failed on identification rather than credit history, so being able to show a stable income and residential history over the space of a few months is likely to be helpful.

It could be that I suppose but usually if it’s ID issues they don’t reject you they just ask for ID

I'm not sure, however would assume that because OP is not on the electoral roll due to nationality and hasn't lived at the address long, these would be the main flags.

I'd think that it would get them to reconsider once it has gone in front of a person with this information (council tax, possibly tenancy agreement and a few months bank statements), as long as everything is consistent and it's clear that OP isn't struggling to the point where they won't be able to pay any borrowing back.

This is not legal advice, merely opinion, and I have never worked for a bank (although have returned from living abroad in the past, pre-everything being computerised).

Jamesyb123

CKhalvashi said:

Jamesyb123 said:

CKhalvashi said:

I'd argue that it's only going to be the cost of a stamp, printing a sheet of paper and photocopying some statements, so well worth a go.

OP has likely failed on identification rather than credit history, so being able to show a stable income and residential history over the space of a few months is likely to be helpful.

It could be that I suppose but usually if it’s ID issues they don’t reject you they just ask for ID

I'm not sure, however would assume that because OP is not on the electoral roll due to nationality and hasn't lived at the address wrong, these would be the main flags.

I'd think that it would get them to reconsider once it has gone in front of a person with this information (council tax, possibly tenancy agreement and a few months bank statements), as long as everything is consistent and it's clear that OP isn't struggling to the point where they won't be able to pay any borrowing back.

This is not legal advice, merely opinion, and I have never worked for a bank (although have returned from living abroad in the past, pre-everything being computerised).

Yeah I see what you mean it can be a bit automated sometimes just in my experience it may just refer for id rather than reject but as you say there may be a few issues at play here so could be worth an appeal

[Deleted User]

Thrugelmir said:

Deleted_User said:

Thrugelmir said:

amapofthepiano said:

CKhalvashi said:

Also remember that if you're rejected, sending them a copy of your latest bank statement and proof of address (copy of tenancy agreement or a council tax bill) with a covering letter may cause a reconsideration, or may not. This is because you're most likely to fail on identification grounds.

As James says, if this doesn't work, a 6 month wait may be in order, but you'll get there eventually.

because my biggest asset is the savings so would be good to get a chance to sort of show them.

If you've significant savings you've no need to borrow on a credit card. Simply maintain your bank account in good order. 

That's nonsense, spending on a credit card is not borrowing unless you don't pay off in full (which OP will do thanks to savings) - it offers section 75 and chargeback cover and interest free periods AND crucially, builds a good credit rating towards getting a mortgage.

I wasn't commenting on the cover afforded. Care to show me solid evidence of your mortgage claim?  In particular how credit card use supports an application. If you were to take out a fixed term loan and repay it , without incident.  Then I would agree that credit usage adds some brownie points. Churning monthly spend through a card demonstrates nothing out of the ordinary. 

Sorry what? You want to know how spending on a card and paying it back every month in full shows you have good management of credit / debt and can use money wisely? Or you think that despite every single person who know anything about finance understanding that building good credit history by doing this is a good idea, you don't?

OK dude, you're right, everyone else is wrong and having a credit card, spending and paying it off in full every month is bad for your credit history.

amapofthepiano

So it might be worth trying? So what should i send - Tenancy agreement, Council Tax, all IDs that i have on me (my residence permit says "Exceptional Talent" maybe that'll work in my favour :DD) and all possible statements from my Paypal Accounts/Bank? A cover letter explaining that i would have had a way longer history in this country if not for the coronavirus that prevented me to move last march cause borders shut?

CKhalvashi

Simply a copy of proof of where you've living, copy of your residence permit/passport, 3 months of bank statements and a covering letter stating your average monthly income, that you're a non-EU national and therefore feel this may be an identification issue, and how long you've been in the UK.

What may have happened is irrelevant, what has happened is fully relevant.

macman

Have you registered as a sole trader yet? Once your turnover goes over £1kpa then you must do this, and then complete a self-assessment return after the end of the tax year. If you traded prior to 6/4/20, that return and any tax owed is now overdue.

amapofthepiano

macman said:

Have you registered as a sole trader yet? Once your turnover goes over £1kpa then you must do this, and then complete a self-assessment return after the end of the tax year. If you traded prior to 6/4/20, that return and any tax owed is now overdue.

I was waiting to receive my provisional licence from DVLA with the correct address because i think when i checked last it was needed to register but now i'm questioning everything.
My main reason to register was to make my earnings in music industry look legit, if i want to get British passport eventually i'll have to show Arts Council who endorsed me and Home Office that while living here i was earning with music. Which is my Patreon and my royalties/merch sales. I also wanted to be able to get tax return on some of my rent cause i work full time from home both for my dayjob (even before pandemic) and as a musician. Plus, well, paying taxes....i just supposed i need to be looking official to pay them? Am i right?
Either way i sent in my application today to HMRC, will see where this will take me.

On a side note, i just printed 32 pages of paperwork which i'm intending to send to Capital One and if they don't cry their eyes out while reading my cover letter then i don't know.

amapofthepiano

Experian sent me an update on my score that has gone down by 115 =\ is this one of those occasions where i have to remind myself that credit score isn't really a thing? did this happen because of the rejection from Capital One? I didn't do anything else that could have done this (i think) =\