Frustrated by inability to rebuild credit.

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So as the thread title goes I'm at my wits end with trying to repair my credit rating.

A littl bit of history, i got myself into abit of debt when i was younger(Catalogs for my mom and sister) The former of whom have passed away. I moved out when i was 19 and never had the heart to press my mom for the cash for them due to her being short of money. I stupidly turned a blind eye but when she passed away last september a few days before my 27th birthday i decided to get my act together and sort my life out. I found out that i owed about 2k, I paid it off over the next few months and kept an eye on my credit score. It's currently at 576 with a rating of poor, I used experians search tool for help and had a 90% chance to be accepted for a credit building card. I applied and was turned down.
The following month my credit score stayed the same but I'd registered to the electoral roll and finished off the last of my repayments in the month between and nothing had improved, i was given an 90% chance for a vanquis card, was turned down but offered a chromatic card with them but when i tried to accept it kept saying Error and loading a white screen.

I want to own my own house by my 30s and i don't struggle for money but I'm really not sure what to do at this point?

Any tips or help?

Regards, Tom.

Comments

  • [Deleted User]
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    Your credit score means nothing only you see it.
    Its your credit history that matters.
  • [Deleted User]
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    What data is showing on your files?

    Open and closed accounts, defaults, late payment markers etc?

    Ignore the score and ratings as they mean nothing.
  • PeacefulWaters
    PeacefulWaters Posts: 8,495 Forumite
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    Turning your credit history around (not the score) is a long game. Years, not months. But is worth the effort.

    Be registered to vote.

    Pay your bills on time.

    Rinse and repeat without blemish.
  • Dobbibill
    Dobbibill Posts: 4,135 Ambassador
    First Anniversary Mortgage-free Glee! Name Dropper First Post
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    Stop applying at the moment - you are applying too often.

    Let your information filter through to the CRAs about being on the ER.

    What is showing on your files?
    Do you have any current account(s)?
    Do you have a mobile phone contract?
    Do you have any utility bills in your name that report? (eg - Gas, Lecci, water rates)

    It's a slow process to rebuild your history - your info stays on your CR for 6yrs so you need to outweigh good history from bad history and it will take time to do that.
    I’m a Forum Ambassador and I support the Forum Team on the Budgeting & Bank Accounts, Credit Cards, Credit File & Ratings and Energy boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.

    If you can't be the best -
    Just be better than you were yesterday.
  • chattychappy
    chattychappy Posts: 7,302 Forumite
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    You said you paid off the old 2K debt over the "next few months" starting last September.

    That is good, but still very recent. It will take longer for lenders to take a chance on you again.
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