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I have a dreadful credit rating

(7 Posts)
Contactless Mon 11-Dec-17 15:57:00

I'm shock

I hardly ever buy anything on credit and pay the credit card off every month. So when car finance was declined (was only taking it to get the discount) I assumed my credit rating was poor because I don't have much of a credit history, but no the car dealer insisted it was because I had adverse data registered against me.

So, I requested my credit file from the credit reference agency and it is true there is an unpaid debt against my name. A six year old £5 debt apparently owned to Car Phone Wharehouse. That's it.

I did have a phone from them and cancelled due to poor service but I'm sure I paid everything they told me was due and I certainly haven't had any contact from them regarding this "debt"

Is it just me who's surprised that a £5 debt on an otherwise good record makes such a difference but also that it could be there without anyone telling me I owed the money?

Tuppencew0rth Mon 11-Dec-17 16:02:16

Im not surprised. The world of credit rating alludes me.

I was turned down for a mortgage - I’ve 20% deposit, no loans, higher income category for tax, 10 years with the business... but turned down.

Requested my rating and two weeks later or showed.... absolutely nothing. But still I was declined.

I raised an official complaint to the bank who looked into it and ... came back saying they stood by the original decision but are not obliged to say why.

I am still completely clueless as to why. I have nothing sinister, I buy my tv license 😅 I’ve no idea why I can’t take a mortgage.

Someone told me I need to get a credit card and use it a lot. THat feels ridiculous as I have a debit card that is fine.

I’ve no idea.

It feels you’re being punished!

glow1984 Mon 11-Dec-17 16:04:30

Tuppence it’s a common recommendation to get a credit card and pay it off every month in order to boost your rating

Contactless I’m not sure they even look at the amount, but having an unpaid item will cause an issue. Does it say it was defaulted?

Contactless Mon 11-Dec-17 16:06:44

Yes, it shows as in default and still owed. The credit reference company will write to Carphone Warehouse on my behalf, if I dispute it, but it's the first I've heard that anything was outstanding.

Lemond1fficult Mon 11-Dec-17 18:56:55

My advice is to ring Carphone Warehouse and be absolutely lovely to the person on the other end.

I just had this when applying for a mortgage - Perfect credit rating, but there were some late payments registered against me from the water company because my DD had failed last year without me noticing.

So I rang them, explained I was happy to settle the debt, that it was stopping me getting the mortgage I needed, and would they please ask their debt department to remove it, and voila! It was gone 2 days later. It's totally at their discretion, so being nice will get you a lot further than being arsed, galling as it is.

Lemond1fficult Mon 11-Dec-17 18:57:30

*arsey!

BifsWif Mon 11-Dec-17 19:18:11

I wouldn’t bother doing anything, if it’s six years old it will drop off soon anyway.

What date was the default entered? Once it’s gone your rating will go up again.

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