help bad credit

ringers

Hi,
I just applied for an Aqua credit card and got turned down. I thought they took everyone that applied.

I earn 39000 a year live with my partner who's on 33000 PA. she own's the house.
I've never been bankcrupt or had any ccj's, although there was a couple of defaults that show as cleared and are due to expire in the next year.

I want to rebuild my credit rating a bit and thought that a credit card might assist, but I can't even get a bad card. any idea's

Tori_Bellatrix

Halifax have the new Classic card out ... I got approved for that on Tuesday online and informed of credit limit (and got my agreement today). Although I don't have bad credit .. I have a lack of history ... but it may be suitable for you ..

http://www.halifax.co.uk/creditcards/classic.asp

inmypocketnottheirs

ringers wrote: »

Hi,
I just applied for an Aqua credit card and got turned down. I thought they took everyone that applied.

I earn 39000 a year live with my partner who's on 33000 PA. she own's the house.
I've never been bankcrupt or had any ccj's, although there was a couple of defaults that show as cleared and are due to expire in the next year.

I want to rebuild my credit rating a bit and thought that a credit card might assist, but I can't even get a bad card. any idea's

Have you made any other applications in the last 6 months? Lenders view multiple applications as an indication that you may be financially stretched.

Are you on the electoral roll? If not this can make it very hard to obtain credit.

Defaults, cleared or not, are an absolute pain in the butt! If the defaults are old (as they sound they may be), there is an extremely high chance that the institutions that placed them, did not follow the correct procedures. It is possible to get defaults removed. I know because I have done so.

Have a look at this link:

http://www.learnmoney.co.uk/credit-cards/remove_default_notice.html

HTH

P.S. Also have a look at this thread:

http://forums.moneysavingexpert.com/showthread.html?p=7994991#post7994991

wayoflife

ringers wrote: »

Hi,
I just applied for an Aqua credit card and got turned down. I thought they took everyone that applied.

I earn 39000 a year live with my partner who's on 33000 PA. she own's the house.
I've never been bankcrupt or had any ccj's, although there was a couple of defaults that show as cleared and are due to expire in the next year.

I want to rebuild my credit rating a bit and thought that a credit card might assist, but I can't even get a bad card. any idea's

First of all you MUST obtain a copy of your credit file. Experian is the main one. There might be a chance that there are errors on your file (there were loads on mine). If there are errors then ammend them (message me if you need any help on this)

Then leave it 30 days to adjust your file and apply for a vanquis card and only a vanquis card. If you can't get an aqua card then the chances are you wont be accepted for a capital one card. The vanquis card is the only card you will be able to get.

Then follow this advice:

Only spend what you can afford. I would suggest purchasing a certain type of thing ever month i.e. petrol.

Make sure you pay the amount off in FULL each month. If you don't you will be charged a very high rate of interest (up to 59.9%). I would suggest a Direct Debit, and make sure this is definately set up.

Don't make any other transactions apart from purchases, this includes balance transfers, cheques and cash withdrawals. They will try and make you write cheques by sendingyou them and all sorts of things to try and make you use them...DONT DO THIS!

Remember your credit limit and NEVER go over this. I would suggest looking also at how much you spend on your chosen product i.e. petrol every 2 months (as you will always have a 'trailing' balance from the previous month) and ensuring this is less than your credit limit.

After 12-18 months (I would suggest 18 months) then look at other cards you can get, i.e. Capital one.

In the meantime I would also suggest opening a bank account up with any banks/building societies you wish to get a credit card from in the future. Do this NOW and keep good accounts and in 18 months you will have a good history with them. It will probably go to an appeal (even in 18 months time) but stick at it you should be ok.

Hopefully Ive been helpful...