My Credit Rating!!!!!!

[Oakey93]

Can someone please give me some answers??!! I'm 20 years old got a good job earning good money, never had credit before, got a credit score of 817 (which I think isn't bad) I'm trying to improve this however no one will give me a credit card, not even a credit card for people with poor credit scores, no one will touch me, can't even get a phone contract in my name! In the next month or two I will have enough money for a deposit on a house but can see me gettin knocked back once they credit check me and I don't no why?!!! I'm on the electrol roll at my current address and can't see any other reasons why I gettin knocked back for credit, don't even want to try for a mortgage because if they won't give me a phone contract worth £600 then can't see them lending me £100000!!! How can I improve my credit score if no one will give me credit?!!!!

[boxtops]

what you need to do is to contact one of the credit rating companies like Experian (it doesn't matter which one you use, they all share info). For about three quid they will send you a copy of your credit report which shows you exactly what the companies are looking at when they decide whether to grant you credit, or not. YOu need this. You need to be sure that, for instance, the debts of someone else living at your address (before you moved in) are not still associated with your record. If they are, you can apply to get them removed.

It does work, I had loads of entries on my original credit report which were nothing to do with me at all.

http://www.experian.co.uk/consumer/credit-education/what-is-a-credit-report.html?sc=701661

[Hopkirk]

Won't your bank give you a credit card?

You need to get a credit card, and run it in a perfect manner to get a good credit rating.

Your poor credit rating at the moment may be because there is nothing to rate.

[carolegif]

Because you have never had a card you are not rated. I have a friend who has never borrowed money her whole life, applied for a card to book flights to see her son and was refused! Try asking your bank.

[belindabee]

Try an online application for Aqua or Capital One. They might start you off on the credit line with £100 limit. Run it well for 6 months and you wil be considered for an upgrade.

[Oakey93]

Tryed with my bank multiple times! Need to stop applying as this is showing up on my credit report that a significant number of searches has been made, but only because I'm desparate to increase my credit rating! Can see myself renting the house where I'm living now for the next 2 years paying off someone else's mortgage when I could be paying off my own!

[kendra20]

Just a warning about using Experian, If you use their free month trial offer make sure you ring or write to cancel the free offer before the month is up. they don't inform you the free offer is coming to an end and will charge you for the next month without you realising. I didn't cancel till the day after the free offer had ended and they charged me £34 and said it was up to me to cancel and they didn't have to inform me.

[Oakey93]

I'm happy paying the £10 a month as I check my credit score on a regular basis and trying hard to improve it

[ubasses]

There really is no such thing as a precise score, any you see on an agency report is just a snapshot for that day, and all three Companies would probably give you a different figure. Also Financial Companies all use different methods of scoring. As said earlier the Bank where you have your current account could be your best bet as they will use the history you already have with them. Little things can make a difference like having your salary paid direct into your account, (which your bank will have on their system already) when they ask for a telephone number give a land line number. Space out any applications you make, too many searches in a short period will also go against you.

[Peter Pedant]

Kendra

you plinged the wrong thingey

somewhere on the site - and it takes some searching but it is there as reqd by law - you can pay £2 and get a one off notice of credit report.

I was cloned and the subject of fraudulent applications and I was advised to use this service once a y or so.

[CheekyChops]

All 3 credit reference agencies don't share information so you DO need to check all three reports. Not all lenders report to the same on so something that is in your Experian report may not be on your Equifax or Call Credit one.

You can check Call Credit for free by using Noddle - https://www.noddle.co.uk/‎

[pretty_snowdrop]

My gut feeling is that you can't get credit because recently applied for too many lending facilities. All these searches show on your credit report and they make potential lenders suspicious. All lenders have different criteria, some won't lend to people which no history and others won't lend to customers who have X amount of searches on their credit file. Don't apply for anything else for 6 months, then ask your current bank for a overdraft ( or increase your o/d), if you manage your finances ok, they should agree this. Then try for a credit card, your current bank should be the best place to start with, avoid MBNA because they won't give a credit card to customers with no/low credit history.

[boxtops]

It's the one-off credit report you need (not the subscription to the regular one), as I mentioned in the first response - that gives you full details of everyone whose finances are associated on record with yours, so you can correct them if anything is wrong.

It may well be the fact that you keep checking your rating which is looking suspicious to the credit raters. Get that one-off detailed report, then go and see your bank in person and discuss it face to face.

[dinawatson691]

first think you do is make sure that you comply all the requirements they give to you to give yo credit card.