Delayed by my own impatience!

[Nottingham2013]

Long story short

 

after defaulting on 3 accounts 6 years ago

 

I have finally ridden my credit file of these accounts,

 

2 of them requiring drawn out battles to remove early which I eventually won..

..but now it seems my celebrations were premature.

 

Over the last 8 months I have been applying for credit cards at the rate of 1 every 1 or two weeks.

 

My idea was that it was getting so close to the defaults being removed

I could get accepted at anytime.

 

However I was under the impression that these searches were insignificant

and at worst they would have a very very minor effect on my credit file...

 

.but I have now been informed that I have been rejected for having too many searches

and face 6 further months in the wilderness before I will be accepted.

 

Any ideas on where I go from here besides the obvious no applications for 6 months and try again?

 

I'm so deflated by this silly mistake.

[citizenB]

Ouch yes, you really have stuffed up by applying so often.

 

I think you are indeed going to have to sit on your hands / lock your keyboard away for 6 months and give your credit file a rest

[citizenB]

The link below gives you some idea of what you need to do and how in order to repair your credit history and perhaps be accepted for new credit.

 

http://www.moneysavingexpert.com/credit-cards/bad-credit-credit-cards

 

Scroll down the page a bit and you will see the following..

 

If you are being rejected...

 

If you're rejected - STOP applying.

First, check your file's correct.

If it is, consider getting a special 'poor credit' card.

 

Freeze! Apply for too many cards and receive multiple rejection letters in a short period and you could shoot your credit rating in the foot for years. This is the dreaded 'rejection spiral!'

 

[Nottingham2013]

Thanks CB, it was such a bad mistake. When my last default came off last week I was feeling euphoric and now it might as well still be there! Do you know of any lenders who don't give as much weight to searches?

[Nottingham2013]

Is it likely to take 6 months with all lenders because one said try again in 3 months but that was just a basic adviser and not an underwriter so she may not be upto speed.

[citizenB]

Have you spoken to your own Bank ? They should be able to do one of the searches that doesnt leave a "footprint". If they are unable to do this, ask them not to do the search at all. If you have no debt with them, they might even consider providing you with a small credit limit.

 

Alternatively, if you need credit then perhaps investigate a Credit Union ? http://www.findyourcreditunion.co.uk/home

 

I truly would not try to obtain credit via a broker - not only do they charge a fee, but they might end up directing you toward a PDL ?

[Nottingham2013]

At this point it's not more searches being made that's the problem it's all the previous ones!

[citizenB]

Sadly there isnt much that can be done about those. I think you are just going to have to be very patient indeed.

[Nottingham2013]

I think I'll just have wait and maybe make one application after 3 months see how that goes and if it fails wait another 3 months.

[citizenB]