New in This country...Please advise

M_Thomson

shahidemran wrote:

Finally I managed to open a Currant Account with Barclay :j :j :j , But the lady told me that you should go for card over @ £4/Month, It will increase your chance for application acceptance Do I really need card cover?

NO!!!

What a load of rubbish the woman told you. She is just saying that to get her card cover sales figures up.

grumbler

shahidemran wrote:

Do I really need card cover?

I think £4p.m. is for Barclays First Additions (£5p.m. from 2006!)

Extras like mobile phone insurance, free legal help, discounts and an interest-free overdraft for £4 a month
• 24-hour legal helpline.
• Mobile phone insurance including cover against loss and SIM card replacement.
• Cardholder Protection.

You decide whether you need this. I think you can cancell it at any time. Personally, I wouldn't pay £4-5 ...
See also my recent post in Electorial roll non Brittish/EU? thread ...

shahidemran

Thanks Mates, At that time I was in the position to accept any terms & conditions coz refused by Halifax(even had basic account since 8 months, And they suggested to try in Feb 2006).Actually I want to start developing my credit scoring, because I'm looking forward for morgage next December. So desperitly need starting point to develop credit score. Hence I accepted every thing except Regular Saver , Yes she suggested me to open regukar saver to develop credit score but at least I was aware of a little bit about that doesn't help me.
Anyway at least I have current account and thats enough for me. She told me that I can cancel after Three months, Shall I wait for three months or cancel next month?

KTF

shahidemran wrote:

Anyway at least I have current account and thats enough for me. She told me that I can cancel after Three months, Shall I wait for three months or cancel next month?

Cancel it now. They are asking you to wait for 3 months on the basis that you will forget to cancel it.

shahidemran

I have recieved my Equifax Credit File, In covering letter they wrote that:

What Should I do if there is incorrect or misleading information?
You may believe information on your Credit File is incorrect or there may be information that while factually correct, you feel could create a misleading impression. You can
*Ask us to investigate information you believe is incorrect using Notice of Dispute
*Add your own statement of up to 200 words to your Credit file, in which you can explain why you believe this information is misleading using a Notice of Correction

As I migrated to this country in last December, So shall I use the second options to let them know my status, obviously there is no credit/address history, does it make any difference to get mortgage next year, What should I write, Any suggestions from Experts?

grumbler

shahidemran wrote:

As I migrated to this country in last December, So shall I use the second options to let them know my status, obviously there is no credit/address history, does it make any difference to get mortgage next year, What should I write, Any suggestions from Experts?

Lack of credit history is not so important for mortgage applications as for current accounts and credit cards. More important is deposit (Loan to Value), terms of employment contract, salary, residential status. I don't think that Notice of Correction can help.

shahidemran

grumbler wrote:

Lack of credit history is not so important for mortgage applications as for current accounts and credit cards. More important is deposit (Loan to Value), terms of employment contract, salary, residential status. I don't think that Notice of Correction can help.

Thanks for your help. But as u can see this post I struggled hard to get Current Account, Definately I will be looking forward for Full Visa Card (Instead of Visa Electron) after Three months and then Credit card. Whats your views in this situation.

grumbler

Problems with opening current accont are result of Money Laundering regulations. Problems with getting a credit cards (if any) are because it is unsecured debt. All this have nothing to do with mortgage. Regarding current accont - have you read the thread that I advised in my post #13 above? If you don't have anybody to recommend you in person I can send you a voucher ...