low credit score

guitarguru

Hi all,

I'm a former bankrupt (some 14 months ago) and have had an Abbey Basic Account since then. They told me that after a year or so I could apply to upgrade to a normal current account. I just tried that and my application was refused - not because of my former bankruptcy, but because my credit score was too low. I was advised to apply for a credit card as a good way of improving my credit score!

As a former bankrupt I obviously found the advice rather ironic, but maybe she was right? I want an account that allows me to pay for things electronically or even write a cheque. I'm not particularly interested in credit cards or loans.

So my question is:
Is there a current account that would be particularly suitable for someone with a low credit score such as myself? Or...
Is there a particular credit card or something I should be thinking of getting.

Many thanks in advance!


Guitarguru.

grumbler

guitarguru wrote:

...I was advised to apply for a credit card as a good way of improving my credit score! ... As a former bankrupt I obviously found the advice rather ironic, but maybe she was right? ...Is there a particular credit card or something I should be thinking of getting.

Yes there are cards for people with bad credit history and that can help to improve this history. The most known is Capital One Classic Card. Allegedly they guaranty acceptance for all residents, but I am not sure. It has low credit limits and you can be asked to pay up to £200 safety deposit (with £200 credit limit), but this is a price for rebuilding credit history. Also APR is high, but it does not matter if you don't use the card to withdraw cash and pay balance if full every month.

The other card is Barclaycard Initial, but I think chances to be accepted are smaller.