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| T O P I C R E V I E W |
| suev |
Posted - 01 November 2009 : 21:48:35
Hi good news folks and thaks for all your help, early discharge papers came this week yepeee. I remember reading on one of your threads i need to now do a clean up can you please expaline, and someone else as told me to credit a credit card that i pay into to help my credit rating , but i never want a credit card again, but apparently i just pay them? i am hoping that you guys can help my like you always do, just got out of hospital so it made my week, thanks again |
| 4 L A T E S T R E P L I E S (Newest First) |
| RHB |
Posted - 02 November 2009 : 12:43:45
And most credit cards have a late payment fee too, so it is easy for fees to start mounting again simply by forgetting to pay it off in time. |
| gettingoutofdebt |
Posted - 02 November 2009 : 09:27:39
Instructions on cleaning up the credit file are located at http://forums.moneysavingexpert.com/showthread.html?s=cb2f11b2c3b30cb86f39aa7acf342114&t=677875
Don't be in too much of a rush to get a CC as it will take 6 yrs for your BR to completely fall off your credit file so there is plenty of time. Capital One and Vanquish are two providers who you will be able to get a CC from BUT the interest rates are about 40% so you need to make sure that you pay the amount off in full each month. |
| worried |
Posted - 02 November 2009 : 08:17:57
hello - congrats on your early discharge!!! it's so nice when you can see in writing that you are officially discharge eh!! that was the first time i really believed that all that debt was gone!!
regarding your credit score it does stay on there for 6 years regardless and i would think there are not many companys that would give you a "credit card" as such. i was discharged in aug this year and last week i tried to apply for a virgin credit card just to see if they would give it to me and they declined it. this has probably now made my credit score worse so i should have just left it alone!
i have heard of this card you mention and i think it is like "Pay as you go" so you put £10 on it and then go spend the £10. So basically you have to put money ON in order to spend it. If this is the case i can't see any problem in you getting one and yes it might help improve your credit score. Just check there are no hidden fees or interest etc if you dont use it etc. But it could work out to be a good way of controlling your spending... like if i had one i would maybe put £75 per week on it purely to spend on shopping, however you could also achieve this by opening an extra bank account with debit card?
or you could even just apply for it and if you get it you dont HAVE to use it but it would have increased your credit score.
Being an ex-bankruptee i would never recomend getting an actual credit card ever again but i can see why you would want to improve your credit score... although until that 6 years is off the report i'm not sure how much it would help.
well thats just my thoughts and i am by no means an expert but just wanted to let you know my thoughts! And make sure you look into all the t and c's of that card if you do decide to get one - make sure you cannot get into negative debt on it.
good luck.
ps. co-op bank are excellent if you want a bank account with debit card. Back in june i opened an account when i was still br and they gave me a visa electron card. Recently i had to have a new card issued (change of details) and they have now given me a proper visa delta debit card.!! |
| RHB |
Posted - 02 November 2009 : 07:55:41
Personally,if you don't want a credit card then don't get one. Your credit rating will be poor for 6 years anyway even if you do start to build up your credit score. |
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