Credit help.....

[AdamW]

Morning,

Just need a bit of help if anyone knows anything about credit scoring.......

I suffer from bad credit ever since I first tried opening a current account....When I was 15/16 I tried opening a current account with a debit card and all banks refused saying I have a low credit score...this I didnt understand and the bank explained it too me and it made no sense, how could I have bad credit when I have never been given credit to abuse.

I forgot all about it and just had a savings account with a cash card, so whenever I need money I have to use an ATM machine which can be a bitch at times.

I applied again after having a regular income into my bank and they still refused so I decided to get myself a credit report from experian which costs me 35 sheets and they need some info on me and they came back to my suprise and told me that I dont exist....which was rather weird. So I had to send them Birth certificate and passport and bank statements and they sorted it for and created me a credit report, which I have recieved.

Now I would of thought this would be great to finally get myself a decent bank account and an overdraft and stuff.....No no no no I was wrong...I have applied to 3 banks and no success at all...they have all viewed my credit report and my credit score, according to experian my credit score is 870 out 1000, which I was told is better than 68% of other UK residents.

Im totally confused on why im being refused and then banks just tell me they cant offer me anything.......I know 14yr olds with better bank accounts and overdrafts than me and they dont even work.

[DREAMER]

if you apply for this that and the other it looks like your desperate for credit so they wont entertain you it is supposed to take at least 3mth for a application 2 go dead (i mean so its re considerable) i started with a mobile fone contract in my uncles name payed that not lettin him down and then transferred it to me now i have 2 bank accounts 3 contracts and god knows wat hope it helps

[saxo2]

are u on the electoral role(do u vote),if not this mite be part of ur problem,:y:

[AdamW]

Yes I vote aswell....

But I dont understand as I applied for a loan at 18 and I got one straight away, I have a contract phone, I used to rent a flat,

[Barry123]

Yes I vote aswell....

But I dont understand as I applied for a loan at 18 and I got one straight away, I have a contract phone, I used to rent a flat,

have you had your identity nabbed sonny?

[AdamW]

have you had your identity nabbed sonny?

How would I find that out?

[Barry123]

How would I find that out?

no idea. im just throwing suggestions into the ring. seems strange like. is there anyone directly related to that has a piss poor credit rating as i think that has an affect

[AdamW]

no idea. im just throwing suggestions into the ring. seems strange like. is there anyone directly related to that has a piss poor credit rating as i think that has an affect

The company experian who did my credit report have compiled my credit report which is like 25 pages of transactions and there is a page on identity fraud and it says no data has been found in this area.....so im all clear there, and all the transactions are recognisable.

Nope my parents have always been in good credit terms and my brother who is the biggest spender in the world has never been denied credit even though he is in and out of different jobs.

[mattc]

Been having the same kinda problem recently, Have now got a bank acc with 200 quid overdraft. Better than nothing.

Went on experian online for my 30 day free trial which i would recomend to anyone. Had to pay 5.99 for my score though which was 420, which is pretty wank lol because just being 18, nobody will give me credit, to show that I can make regular payments, so nasty little circle.

Found out on there the reason I can't get a credit card is because I applied for like 8 in the space of a month haha, so Lenders look at that and know i'm a poor student so think i'm despirate for one (which i am). So still don't have a credit card, got a mobile phone contract now to boost my score, and direct debits like for gym membership and that also boost it by a bit.

Adam do you have any credit of which you don't use? Like if you had an old credit card that just sits in your wallet but you would only use it for an emergency? Or you have no need to use it? If so and a lender sees this they may decline you credit as you already have available credit you don't use, meaning you would be a potential risk to a lender if you used your new credit, your old credit, and got into debt you can't get out of.

I did a few hours of research into it and there is ALOT that can decline you credit, and I was told at work (Royal Bank of Scotland) that a bank account is the hardest thing to get, it's not going to be down to your credit score it's not exactly bad.

I also found the best way to get things done is to NEVER apply online for a bank account. Always go into your branch to get one and get them to sort things out. Kinda obviouse but the amount of letters I had from Halifax saying 'We have declined your request for a current account......' Then I go into the bank the next day and say 'sort it out', show them my print outs from experian and it gets done straight away.

Hope that helped a bit.

[AdamW]

Yes, mate helps alot.....Beginning of week I applied for bank account with first direct and HSBC online and they both refused....So after reading yours I think I may take a waddle to my local branch and have a chat and get them to sort it.

On the case of un used credit cards....I have none of them....I have one bank account which I have had since I was like 15, I have several direct debits out of this account....e.g. insurance,rent,phone bill. And on my credit report it says all my payments are up to date and there has been no late payments over 64months.

Rep added

[KamRacing]

its not just your credit rating. Its also to do with how much you are earning etc, how long you have been in your job, where you live and anything they can dredge up, like even how much is in your bank account

I would go to your bank you have your savings account with and ask to get a current account to pay your wages into. They will most likely give you it on the spot as you bank with them already.