Aqua card..

iamneallyons

Hello everyone

So fecked up my credit a number of years ago due to a break up etc 

Have three old small ccjs we are talking 300/400 and 600 quid and they are around 3 and 4 years old.

I couldn't get any credit for anything and to be fair iv never really previously used or wanted credit the only downside is the lack of being able to get a mortgage because of it.

Last year I managed to get approved for car finance from advantage finance and have paid every payment to date I'm just upto around 11 months in to the 4 year term.

Recently got accepted for the aqua card and a 450 limit - I'm hoping this further builds my score and just wondered am I best waiting for the statement to be issued and then paying it off in full or should I just pay it off in full every couple of weeks.. im just using it to pay for fuel.

Any other tips or tricks would be appreciated.. also tips with mortgages, Im self employed with around 35k a year and pay 500 quid a month rent and have done for the past ten years.. is it even possible to get a mortgage with a few ccjs?

sleepyjones

You need to wait until after you've got your statement then pay it off in full.

Mortgage might be OK ... I dunno ...  but you'd need to go to a specialised broker, you probably wouldn't get one on "the high street". 

iamneallyons

sleepyjones said:

You need to wait until after you've got your statement then pay it off in full.

Mortgage might be OK ... I dunno ...  but you'd need to go to a specialised broker, you probably wouldn't get one on "the high street". 

Oh yeah absolutely no chance of getting anything off the high street.

With the credit card does it matter if I use say 50 percent of available balance or not?

[Deleted User]

Pay the balance in full when you get the statement.

When you're clearing in full, you don't need to stay under 50% or any other number.

Don't worry when your credit score drops as a result of using the card properly. It's not a factor in credit.

FreedomBringsPeace

If you want to ensure you don't get carried away never go over 50 per cent, but if you are clearing money and only paying for petrol you should be fine. What I found with aqua was after 8 months I got a better limit

wiseonesomeofthetime

Just make sure you never exceed your credit limit, which could be easy with a limit that low while waiting for the statement to arrive and payments to clear, to release the previous month's spending.

I had one like that and it was a nightmare to manage. I didn't use it for long before binning it. You may not be that fortunate.

iamneallyons

Deleted_User said:

Pay the balance in full when you get the statement.

When you're clearing in full, you don't need to stay under 50% or any other number.

Don't worry when your credit score drops as a result of using the card properly. It's not a factor in credit.

The score isn't a factor in credit? Or obtaining credit?

[Deleted User]

iamneallyons said:

Deleted_User said:

Pay the balance in full when you get the statement.

When you're clearing in full, you don't need to stay under 50% or any other number.

Don't worry when your credit score drops as a result of using the card properly. It's not a factor in credit.

The score isn't a factor in credit? Or obtaining credit?

No. It's the equivalent of a horoscope. Fun if you like that sort of thing, but not to be taken seriously.

Lenders will assess you on your history and circumstances.

jasonwatkins

I was in a similarly bad situation with my credit rating and also had a £450 limit when I got my Aqua card.  I initially used it for every day purchases and paid it off each month.   Made a few 'big' purchases as well with one or two being paid off over a couple of months and 15 months later, my limit is now £1,450.