Moneysavingexpert.com/ Your Credit Rating discussion area

creditcrunchie_2

I've had ongoing probs with RBS, they took 2 payments out of my account in a month which meant another credit card payment got bounced and blackened my credit report. I complained, they refunded my charges and paid me compensation, apologies, promises of reviewing local branch practices blah blah blah, 18 months later I found my credit report showed a missing payment to them because they had suggested to me changing the payment date from end of month to start of month, and the month the change was made was recorded as a missing payment. Complained again, they took several contacts to find previous complaint. More compensation thank you very much. (All this related to an ill-judged loan which I was sold in such indecent haste, the RBS bod even drove to my office for me to sign the forms.)

Recently they asked me if I wanted to consolidate my overdraft and credit card balances into a loan. The girl I spoke to kept asking me vaguely suspicious questions about any previous missed payments or problems I'd had, I explained the above but she still sounded very vague. She told me a loan would be 8.9%, which would have reduced my payments and meant I'd know the amount leaving my account every month. I agreed and she did a credit search, came back and said "I'm delighted to tell you you've been accepted..." then in passing a few minutes later said the interest rate had been upped to 14.9%!!! She couldn't tell me why but said she guessed it was because of the previous missed payment problem, which should have been sorted! I'm gutted and hitting myself about the head, I desperately need to find an alternative home for my credit card debt because I'm on 17.9% interest and that MBNA only pay interest plus £5 thing and can't afford to pay more, and now I've gone and stitched myself up for another pointless credit search.

How soon can I reasonably apply for another loan/credit card, without amassing more and more black marks for too many credit searches? And is there any way of agreeing the APR before the search happens, or, even better, knowing what credit limit you'll be given before letting the search happen? I've got £17k on cards so the higher 0% balance I can get the better.

Adam_123

Hi all,
i'm a young guy who has recently applied for a low (under 5k) loan but have been declined! :-(

As far as i know i should have a good credit rating because i have only had 1 other loan / credit card and these were paid off in full with no missed payments.

Only factor that could affect my application is that i've changed addresses and only been at my current address for 1 month. which i cannot and wont be changing.

Is this the only reason i have been declined or is this the credit crunch kicking in???? i need the loan so what shall i do????

Help! :mad:

cryingwithmydebt

I have tried to apply for a loan with my bank today and have been declined, but I have just got my credit score and it says its excellent and I shouldnt have any trouble getting credit - I don't understand?

Any ideads????

jazzman121

I just attempted to apply for a Buy Now, Pay Nothing for 12 months finance loan for a new item.

Basically, repay the full amount before the 12 months are up and have no interest to pay. The loan amount was for about £1400.

Thinking my credit file was great, I thought there should be no problems.

However, I was DECLINED?!?!

So, I quickly checked all 3 credit files (Experian, Callcredit and Equifax) to check for any unintended behavior. There was none.

The company used Experian to check my score, which, for some reason, they give me a poor credit rating. (The other two gave me great ratings)

Experian also show no financial details/searches and the others do?


Can I ask the company offering the loan to use the other agencies, or is there some kind of problem?

mich2102

i cant understand my credit rating and cant seem to get a copy i apply for things and get refused apart from advantage loans which does not interest me!i pay my bills on time and have personal credit which i pay on time but i still keep getting refused?

LittleMissRios

You should definitely get hold of a report then and check your details are all Ok - I was having trouble a year ago and found they had got something about me completely wrong!! Once it was fixed it definitely improved things.

inmypocketnottheirs

accesscredit wrote: »

Thank you for providing useful information.We want you to come up with more advanced information so that will be helpful to everyone.

Reported. Inappropriate use of forum, breach of rules - link in sig.

k13shn

Hi everyone,
A while back i had a problem with a Vodafone contract, which ended up in dispute and a default of £173..which I havent paid....

If i dont pay will this get taken off after 6 years, of is it 6 years from when the account is settled?

Heres what it says on my call credit - file:

Account Type Telecommunications Account Number *****0216 Account Holder Status Normal Account Status Default Period Last Updated To 01/10/2008 Most Recent Account Status Code DF - Default Account Holder Start Date 24/02/2003 Current Balance £173 Opening Balance Not recorded Payment Start Date 05/10/2008 Account Start Date 24/02/2003 Payment Frequency Monthly Balloon/Deferred Payment £0 Original Default Balance £173 Worst Status Last 12 months Default
Will it get taken off my credit file 6 years from the account start date?

Vodafone are continuing to update it on a monthly basis - so every month im getting a D on my file.

Hope someone can help,
Thanks,
K

inmypocketnottheirs

Your ability to get decent credit will be stuffed for 6 years from the date of the default. A default is judged as harshly as a CCJ. It shows to potential lenders that you do not honour your commitments.

k13shn

Thanks for the reply.
The default was over a dispute - where they'd over charged me... and refused to take to come to a compromise.

Im worried that there updating the file every month - so the default wont be taken off until after 6 years - after it has been settled.

Does anyone know how i find out the date of the first default?
Comments much appreciated