I should have very good credit history but don't!

Messiah7

Can you help me??

I should have very good credit history but don't!

I am trying to get a credit card but have recently been refused! I can only believe that this is due to the fact that I haven't had a credit card before.

Background: Am 26 years old, have a mortgage, bank loan for my car etc. and have never been late on any payment in my life. Am also earning an OK wage (over £20k a year). Therefore the only thing I can put it down to is the fact that I have never had a credit card history.

Can anyone give me some advice on how to improve my credit history?

fatboyonadiet

Which cards did you apply for? Have to had a look at your credit history? The onyl other option is getting one of the alternate cards - I don't know much about these though.

Messiah7

Applied for the Sainsbury's platinum card following Martin's advice that if you were refused for that one then you should get the standard version.

However, I just got a letter of refusal and when speaking to Sainsbury's they said that I didn't meet their set criteria but would not go into further details.

I received details of my credit history and even spoke to someone who said that they could not see any reason why I had been refused apart from that I haven't had a credit card before!

It is very frustrating!

Benuk73

Why dont you get one of the Higher rate interest rates, use it but pay back every month to avoid interest, then 6 months down the line apply for another card which is less apr and see how it goes.

I think capital 1 guarantee acceptance "I may be wrong" but I read it somewhere, the snag is they charge high apr, but if you repay what you spent you wont incur any so long as you pay the whole balance by the due date.

By doing this, you will let future lenders "see" your spending and payments.

I'm a bit surprised that you got refued because they can "see" your repayments history on your mortgage and loan etc.

HTH

westernpromise

I'd start with your own bank first, since they know you a bit better. Once you've had one of their cards for a while you can start with the others.

Messiah7

Someone else told me to apply through my own bank, the only problem there (as an avid money saver!) I have just changed my bank to Alliance & Leicester, therefore may have to wait a while.

Will investigate the Capital One option.

Much appreciated.

Xbigman

First step is to get your credit records from equifax and experian and check all your personal details, address, spelling of your name, etc.
Regards


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