Want credit cards, but credit history missing.

rroni

Hi all,

Need some advice.

After finally deciding to get my finances in order I applied for A&L and Nationwide current accounts and was surprised to be rejected for both.

Decided to check both Equifax and Experian credit reports and was surprised to find I had no credit history! The only listed account was the Barclays current account I opened a month ago, which doesn't have an overdraft.

The reason for my surprise was I have a HSBC current account (since mid 2006) AND a HSBC Mastercard (£4000 limit since Apr 2007). For some reason these accounts aren't listed and my operation of them not recorded. I paid off my card in full each month and now this hasn't been reflected in my credit record.

Is there anything I can do about this? Can I get HSBC to report my history or can I only start building my credit from this point on? I have moved around a lot but informed HSBC each time, this shouldn't have anything to do with it should it?

Out of frustration I applied for a limit increase from HSBC to £8000. The system approved for a £1500 increase and has been referred for the rest of it. Seems like it won't be seen on Experian either.

Is there an advantage of NOT having this £8000 (potentially) card on my report if my history for card usage can't be put on? Will I have to just apply for a bunch of subprime cards and slowly build my history?

If I have to rebuild I'm going to apply for Barclaycard Initial, Captial One Classic, Halifax Classic, RBS Classic, MBNA Classic, Aqua Card, Vanquis and Monument Visa all in one hit. (Any others recommended?) Would this be silly? My thinking is that my record's poor already then a bunch of checks can't hurt it much more. Plus I'm about to move in 3 months so that's going to hit it again.

I wanted to start stoozing, but can't do this if I can't get a decent card. What is the best course of action to fix my credit history?

Hmm ... lots of questions for a first post sorry.

speedbird1973

Are your previous addresses recorded? There may just be a "missing link"

If you fix that your history may unravel before your very eyes!

Lavendyr

My HSBC credit card has never been listed on my credit reports. Some companies don'r report good history (e.g. pay off in full each month) but only report if you miss payments, etc. So although I had been using my HSBC card for several months, it had never been listed on my credit reports.

Make sure you're on the electoral roll as well, if you haven't already done so. I would start by only applying to one or two credit cards and awaiting the outcome rather than applying for that many at once.

Vixen144

I have the same problem. Recently applied for the Halifax Alli-in-One Card, was refused on the basis of no credit history! Despite the fact I’ve had a bank account with HSBC for 14 years, an overdraft plus credit card with them for 10 years. I’m an ideal customer (for them!) as I rarely pay more than the minimum payment on my card - I know I know!! - I’m rectifying things and want to apply for a balance transfer card.

I earn a reasonable amount and am on the electoral role BUT I am a tenant and have lived at my current address 18 months. I’ve also lived abroad but this is documented in a NOC on my credit report (to explain the gap in addresses). I was also refused similar cards 18 months ago.

If my HSBC accounts will never show up, I’ll never have a credit history and never be able to apply for a balance transfer card. Halifax offered me their Classic card with 27% APR so declined.

Any ideas people - please? Is my only option to stick with my HSBC card and forget about a balance transfer?
Thanks guys if you can offer any pearls of wisdom…

CLAPTON

apply for one of the CC for newbies... shocking interest rates but if you pay in full it won't matter and then after 6 months of so apply for a better card

so Barclaycard initial, vanquis, cap one

Danxx

I got a HSBC card a month ago and it is listed in experian. My Vanquis card is listed too. I now did a balance transfer from Vanquis to HSBC on a 2.9% interest over 2years. I know it is not the best option but it was the only one I had as vanquis is extreme in interests. I opened a Lloyds tsb account and got an overdraft but cards from them only in 6months time according to my credit during this period.

Question: It's not in experian yet that I did a balance transfer and my credit score is fair despite have been using my overdrafts. Experian was checked 4 times as I opened hsbc + lloyds and halifax is trying to get me a better account than the one I already have.

Do I have ANY chances in getting a better credit card for balance transfer like EGG or capital one, MINT?

My HSBC was 1 year purchase free but I did the balance transfer 2.9% interest over 2years. What do I do? I wanted a 0%balance transfer now to pay off HSBC and then have HSBC free for purchases 1 y interest free , ripping off my VANQUIS.

THANKS, regards

rroni

Well HSBC have approved my limit increase but to £7000. Still no record of it on Experian or Equifax, even for a search.

I entered my previous addresses on Experian but sadly still no records of my HSBC current account ore credit card. The only thing it linked was a search by Amex at my last address. Equifax already had my previous addresses.

Looks like I'm going to have to build from scratch with subprime credit cards. Any particular order recommended for my applications? I'd like to get approval for as many cards as possible with minimal impact to my already poor credit rating. Would 8 applications in one hit really be much of an impact seeing as I have to spend 6 months or so building up the history? Won't these recent searches not matter so much by the time I'm done building up the history?

brightonman123

is hsbc recorded by other credit agencies? or mabe they dont report to any of them, unless in default..

Vixen144

Thanks Clapton, looks like I might have to do that. Logically it makes sense but psychologically I'm loathe to! Irrational as it is. Anyway, thanks again much appreciated.