Need to rebuild a bad credit history? New ‘last resort’ option.

needalittlehelp

carl1974 wrote: »

This is incorrect i have known people to obtain credit just a yr or 2 after bancruptcy. Also being a discharged bankrupt normally happens after 1 yr of the initial bancruptcy and is a slight improvement on full blown bankruptcy. I am discharged with it being 18months since my bankruptcy but although i do have a visa debit card with barclays bank acc this is the only thing i have so am considering this card. Are there any people here who are bankrupt/discharged who have got the card? Also would it help me to get a contract phone as this also if paid on time would help?

I was declared bankrupt in 2008 and discharged early 2009. So I wanted to get my 'green dots' on my credit files during the next couple of years so once my bankruptcy comes off - my credit file will have some credit history. So far I have.....

Next Account: £1,000
Very Account: £750
CashPlus (Credit Builder): Just closed this account after 12 months
Sygma Flybe Credit Card: £1,000
Sygma All Saints Credit Card: £975
Sygma Silver Credit Card: £1,300
And o2 Mobile Contract

BugsyBrowne

needalittlehelp wrote: »

I was declared bankrupt in 2008 and discharged early 2009. So I wanted to get my 'green dots' on my credit files during the next couple of years so once my bankruptcy comes off - my credit file will have some credit history. So far I have.....

Next Account: £1,000
Very Account: £750
CashPlus (Credit Builder): Just closed this account after 12 months
Sygma Flybe Credit Card: £1,000
Sygma All Saints Credit Card: £975
Sygma Silver Credit Card: £1,300
And o2 Mobile Contract

I see you obviously have not learned your lesson after being bankrupt,1 year on and you already have 3 credit cards.

mej24

star-fire wrote: »

I see you obviously have not learned your lesson after being bankrupt,1 year on and you already have 3 credit cards.

Thats a bit patronising isn't it? You don't know the circumstances of his/her bankruptcy and/or whether those credit cards are being used at all

needalittlehelp

star-fire wrote: »

I see you obviously have not learned your lesson after being bankrupt,1 year on and you already have 3 credit cards.

My bankruptcy was down to my partner taking credit out etc - dont really want to go into detail.

I know I have 3 credit cards currently - but I only use them to pay for food bills, petrol etc and pay off full amounts each month.

Everybody is different Star-Fire, for some people it might be best not to take credit cards etc - while other people trust themselves and just because they been bankrupt in the past shouldn’t stop them getting credit.

borders_dude

Leigh73 wrote: »

Hi,

The thing is, most people do have at least one of these, ie - Driving License or a Passport in my experience, if not both! Could you not apply for a Passport?

Could you maybe ask them if they'd accept another form of ID?

Good Luck,

Leigh.

I dont have either of these either.

Dont have a drivers license beacuse I havnt had any lessons let alone pass a test and never needed a passport because ive never left the country.

formidible

I find it amazing that anyone has managed to get even a visa debit card so quickly after bankruptcy. I have been released from bankruptcy for 4 years and have had a Barclays basic bank account with a cashcard, but they are still refusing to upgrade even this account to an online one despite the fact that I have not had a single debt in four years and have been working most of that time.

BugsyBrowne

formidible wrote: »

I find it amazing that anyone has managed to get even a visa debit card so quickly after bankruptcy. I have been released from bankruptcy for 4 years and have had a Barclays basic bank account with a cashcard, but they are still refusing to upgrade even this account to an online one despite the fact that I have not had a single debt in four years and have been working most of that time.

Try close the account then re-open it,the only trouble with a barclays basic account is once you have that account you have no hope in an upgrade.
There is more chance of someone with bad credit getting their additions,plus accounts,then someone who already hold a basic account with them.

sinead69

Hi,
Ive noticed a few people have mentioned about simplybe.co.uk and how it can improve your credit rating.I was wondering if anyone knows if you apply for an account and get refused does this leave a "bad mark" on my credit report?Also am i wasting my time applying for the Cashplus Creditbuilder as i have a CCJ against me, will it still build my rating or am i best waiting for the CCJ to serve its time? any replies gratefully received.

formidible

star-fire wrote: »

Try close the account then re-open it,the only trouble with a barclays basic account is once you have that account you have no hope in an upgrade.
There is more chance of someone with bad credit getting their additions,plus accounts,then someone who already hold a basic account with them.

This doesn't solve the issue. I still don't understand how anyone with a bankruptcy or CCJ history of less than six years can get another Credit or Debit Card or full bank account. As soon as you apply for one they do an automatic credit check and then discover the bad credit history, and swiftly refuse. The only way you can get any of these facilities in less than six years is to lie about who you are or use false information.

To the last poster any refused credit check is shown up on your credit history for six months I believe. The Cashplus credit building account is good if you start it five years after any bad credit history, so that when your six years is up you should have a slightly better than average credit score.

Tixy

sinead69 wrote: »

Hi,
Ive noticed a few people have mentioned about simplybe.co.uk and how it can improve your credit rating.I was wondering if anyone knows if you apply for an account and get refused does this leave a "bad mark" on my credit report?Also am i wasting my time applying for the Cashplus Creditbuilder as i have a CCJ against me, will it still build my rating or am i best waiting for the CCJ to serve its time? any replies gratefully received.

It won't leave a bad mark no, it would leave a credit search whether you are accepted or decline.

How old is your CCJ? Its still worth applying for a cashpluscredit builder as once your CCJ disappears (after 6years) then you will already have an open account which has been handled correctly (assuming you do) which will make it that bit easier to start gradually building up a good credit history. This would only be relevant if you don't already have any other credit accounts open that show 'good behaviour'.
If you already have other accounts on your credit file that are open and you are handling correctly you shouldn't need this credit builder option.