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Newbie, please be gentle with me!!!!!


malcindebt
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OK,

 

I'm not very good with these forum thingies (or any technological machine) but anyway, here goes.

 

My credit rating is pretty poor, I've read the information given by Martin Lewis on the MSE site and I seem to understand a bit better.

 

I wanted to try his idea for improving your credit rating by getting one of those credit cards with a high intrest rate and paying the balance in full every month.

 

I currently buy a monthly train ticket which costs around £80 and pay in cash every pay day. I was going to use the card to buy the ticket and then pay it off every month. This would be easy as I would transfer the £80 into an account I use for what savings(less than £100, and the account does not have a debit/cash card card) via a standing order and then have a standing order set up on the other account which would come out a few days later and pay off the balance.

 

So I apply for the Vanquis card, and I get refused.

 

I have not applied for any ther cards as I read that the more search you have on the record can result in you being refused credit as it seems like you are desperate. (How long is this information held?)

 

I am employed, earning £17k with a £50k mortgage with 21 years to go. My debt problems started 3 years ago when I was made redundant from my £26k a year job as an aerospace engineer. However I have not missed any payments for and of my bills for 18 months. I have 2 defaults on my credit report, one with British Gas which has been settled for almost 2 years, and one with Cap One which is in the hands of a Debt Collection Agency and there is currently a balance outstanding which is being paid via an agreed plan with the agency (not an IVA).

 

What can I do? Are their any other CC companies offering these cards that will give one to anyone?

 

Please help!!

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Capital One are probably the easiest to get one with but if you already have a default with them I wouldn't apply with them. Next best option would maybe be Barclaycard. Can't remember the name of the card they do but if you go on the Barclaycard site then they have a card for people with adverse credit.

Opinions given herein are made informally by myself as a lay-person in good faith based on personal experience. For legal advice you must always consult a registered and insured lawyer.

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