How do i?

madmatt05

hi, first of all, can i thank everyone for the wonderful advice that has been given to everyone else. its really helped me today. I have been in trouble for past few years, and this time last year i started using Baines and Earnst to help sort my out. I pay them a set amount, and they dish it out to the people i owe. im slowly sorting my life out. one thing i would like to know though, how do i help my credit rating? is there anything i can do? any cards i can apply for (use for £10 of petrol once a month and pay it straight back etc)? i do owe over £10,000 still, but with some hard work, im determind to get out of debt. im only 23, and i want to buy a house later in life, so i need to start building my credit rating up. I have no CCJs, just buried my head in the sand until it was almost to late.

loobyloo1980

sounds very similar to my situation. I applied for the capital one visa card online. I had to pay a security deposit of £49, and got a £200 limit. Nothing huge, but enough to start building my credit up. Once they see you are behaving they pay you your deposit back. Its designed for people like us, but it has a big 29.9% APR so the key is to pay it off in full otherwise the interest is going to escalate the debt problem.

There is also barcalycard initial, which is a 25.9% card (I think) with the same principle of credit building. I opened this online and transferred my capital one balance (small) and then paid it off. Thus resulting in one card clear and paid and closed, and another up to date with good rating.

Eventually I hope I can get a lower one than barcalycard and I will do the same again to keep climbing down the interest rates. i don't want a credit card, and don't use it other than to build my rating for the future, as I too would like a house soon.

Good luck and let us know how you get on :-)