weapon69

This is really annoying me now!!! When i was 18 i got a CC no probs. I've started applying for 0% cards now and i get turned down. Got my credit report from experian and no probs are apparent just ALOT of linked addresses Now, even my own bank are refusing to give me a higher overdraft and cc limit. They give me no reason at all, just say my credit scoring wasn't within the boundaries

Anyone else had this prob?? I've had problems opening bank accounts and getting mobile phone contracts, the lot. I've had them in the past no problem and the bank and experian are fat lot of help!

What should i do?

TIA

Nevetas

Yep had a nightmare for years, not much you can do. I eventually got excepted on a card, then paid it on time all the time, and then got a decent limit.

Still I can't even get a mobile phone!

ian_sadler

It could be that one of your old addresses is flaged as "iffy"

Its a bitch that it can go on an address even if it no longer has anything else to do with you.

ChrisB

Have you got your credit reports from the other two agencies? https://www.econsumer.equifax.com/consumer/uk/ is one, the other I forget right now.

You can file Notices Of Disassociation if other people are on your record who you have no financial connection with.

weapon69

Thx ChrisB , i'll try them.

Does seem really unfair as i've never missed a payment etc. I'm not on the electoral roll, does that make a big diff?

ProperCharlie

i had this problem a while back. after a lot of digging around it transpired that i had a ccj against me which i didn't even know about. managed to get it sorted, but it took about 6 months.

ChrisB

Ooo, yes. From the Equifax site:

At the bottom left of the Equifax link there's a button "Have A Question" - some good stuff to read through there.

weapon69

Well i think it is that

Graz

I thought it was illegal not to be on the electoral role if you're over 18? And yes it will effect your credit score.

I had a similar problem a few years back. Wasn't that I had a poor credit history, more a lack of one. Had a Barclaycard since aged 18 but it seems they don't bother to register details with Experian and the likes. Because my credit report showed that never really borrowed before the banks were reluctant to give me a credit card. Ended up writing a letter of complaint to the credit card company and was asked to supply bank statements for the last 6 months, I then got a credit card!

Audi-Boy

I don't understand, you can afford to run a scoob and a big expencive rangerover, but you have problems getting CCs and they won't let you free with a contract mobile? Hmm ..


W69-I get pre approved loans through the door all the time, I'll lend you the money and slap on the interest eh?

darlodge

I've found that store cards are easier to obtian then a credit card.

When I was 18 I was refused a credit card (although I earned 15k pa) so I got some store cards for a few months and then reapplied for the credit card again. I got accepted and given a low-ish credit limit (2k).

Can you not get a store card to bump up your credit rating and then apply for a card later on?

Darren

darlodge

Audi-Boy,

Pre approved loans dont mean $hit in my expereince. You will still be credit checked and have to jump through the usual hoops to get their money.

I might be wrong, but when I wanted a car loan, all the pre-approved loans then I had through the door still had to be approved before they would give me the money. They don't know if I've received a CCJ in the last week, they don't know if I was made redudant the day before applying etc.

Darren

Audi-Boy

Is there a way to get a big loan and do a runner without getting caught?

ProperCharlie

yeah, it's ever so easy.

weapon69

Darlodge-i don't think me getting a store card is such a good idea! lol.

Maybe my credit rating is due to me always being in my overdraft It doesn't make much sense........

ProperCharlie

considering that much of the consumer credit industry is based upon targeting people with minimal disposable income, it does seem a bit strange...

fast bloke

It is probably a combination of you not being on the electoral roll and having a number of addresses linked. Get on the electoral register would be the first step. No much you can do about the addresses. Get a few store cards, spend 20 quid a month and pay it off as soon as you get the bill. Getting a utility in your name can help (landline or leccy bill.) They don't usually count mobiles as anyone can get one for any address. Your overdraft wouldn't usually be an issue as long as it stay with the approved limits

Cider boy

Being in your overdraft makes naff all difference to your credit score mate. The banks would be breaking thier confidentiality agreement with yourself if they were telling the credit agencies how much money you had / don't have! As long as you are not continually over your o/d limit you will be fine.

The credit industry is a complex one, but there are a few things you can do to help your credit score. The first is get on the electoral roll, this does have a huge bearing on the decisions of lendors, if they can't see you on that then they will be reluctant to lend as they can't be sure you actually live there!

Second is to check your record with the credit reference agencies, this will usually only cost a couple of quid. This can help show up any flagged addresses that you have lived at, and as somebody said in an earlier post it is possible to have yourself detached from the bad history of a flagged address.

In answer to the "doesn't seem fair" that having lived / living at this address is affecting you, no, it doesn't seem fair. The reason it is done hoever is so that a shared house, for example, where people are renting rooms coming and going every week (they tend to run up debts and move on "forgetting" to pay them ) the lendors have a record that it is that sort of property. If the debt was not logged on the property then they would never be able to keep track of these sort of problems, and trust me having lived in a few it is a huge problem, we used to have the baylif round for people who had moved out months before hand!

The Third point is that once you are able to get any sort of loan / card, make payments every month as this will improve your credit score. If you have a credit card and don't use it then start to, even if it's just a tankfull of petrol a month. Pay this off in full come bill time and it will be a 1 score on your credit record, the more "1's" the credit scorer can see on your record the happier they will be, that what matters to them to show that you are a regular payer.

Anybody with problems follow the excellent equifax / experian links a few posts up and see what they say.

It is a mixed up system though, those of us with mobiles, loans and credit cards will have a far easier time getting more credit than somebody who has never owed anything to anyone. That's purely because the credit agencies have no record of the latter person, and therefore the lendor has no idea if said person is likely to pay thier debt back or not.

Hope this is of some help,

Matt.

foamy

Set up a business, ask for a few million £s of venture capital, transfer it to your own account, fake your death.

HTH

fast bloke

Take out loads of life assurance - fake your death

ProperCharlie

alternatively: take out loads of life insurance - die.

talk about killing two birds with one stone.

Audi-Boy

I think faking ones death would be a quite tricky!

ProperCharlie

just strap lots of heavy objects to yourself and jump off brighton pier.

wait until the tide's in if you want to give yourself a bit more of a chance.

minor_threat

The first thing you should do is get yourself on the Electoral Role register (you can still opt out of the version local councils sell to marketing companies). ALL UK lenders use this to confirm your address.

The second thing you should do is confirm from your credit report whether other members of your household have county court judgments or late payment histories and are recorded on your credit report. If you have no financial connection to these people (such as joint accounts, loans, mortgages etc) then ask Experian/Equifax/Call Credit for their financial information to be removed. This is called a Financial Disassociation.

You can also add what's called a 'Notice of Correction' to the information held, explaining the reasons why an account fell into arrears at a particular time (if this has happened).

If you have not had any connection with any of the linked addresses (for financial connections you do not need to have lived there for the link to be set in place) then contact experian and they will contact the address/company concerned and delete the link if appropriate.

DO NOT go to a credit repair company because the only organisation who can make changes to your credit record are the credit reference agencies under the instructions of the lenders involved. Credit repair companies cannot do what they claim and are a total waste of money.

Good luck.

minor_threat

Sorry, I forgot to mention that you can query your credit report online, and download the application form for Financial Disassociation from here

Or you can phone Experian on 0870 241 6212.

weapon69

Thank you