right, i want to improve my credit rating.....

[misdee]

and was listening to something on the radio yesterday about how to do it. they suggested getting one thosnstupidly high interest credit cards, and charging a small amount to it each month and clearing it in full each month. they suggested doing this for 6months to a year. and NEVER miss a payment.

is this advisable? would you do it?

do you have a home shopping catalougue at all?

i have just applied for one.

bank has also given me overdraft, visa debit card and cheque book in the last week.

that should do you ok then, i would stay away from the credit cards tbh, esp high interest ones, i know they do suggest you do that, but its easy to fall into the trap of overspending, if you do go for a high interest card and do what they say, then you could apply for say an adams card, buy just a few small things each month, clear the balance, then after 6 months apply for a better rate card with a 0% interest rate on balance transfers if you have any outstanding balance.if you get a catalogue, make sure you always pay on time and that should boost your credit rating, beleive it or not, the more things you have on credit(which yopu pay on time for), thebetter your credit rating!

naturally , not that im encouraging you to get heaps on credit!

thanks. we had a very bad time with debts etc about 4years ago now, dh actually went bankrupt 2 years ago as his debts were out of control. i know this will have a very bad affect on our rating, but am slowely building mine up. i just want the secruity of knowing that if i did need a loan or credit soemwhere i would be able to get it.

i dont need heaps on credit, but am prepapring for hopefully not needing a mobility car in teh future and having to buy one lol.

right well you are doing the right thing,credit companies like to see an ongoing history of having say a catalogue, with up to date payments. you could also apply for a copy of your credit history, to see what it looks like.equifax

and check it here too

i am actually scared to look at my credit rating! lol

its probably not as bad as you think it is!

Be wary of applying for too much, too fast.

Each credit search is recorded as well and too many in a short space of time can mark you down again.

It is a very fine juggling act and a bloody stupid system. Best of luck.

oh yes, forgot to mention that if you apply for a lot of credit at once, your credit score actually goes down, i found that out about 4 years ago when dh and i made lots of enquries about a loan, they wouldnt give us the rate unless we went through the application process, so after a few applications our credit rating was zilch, took a year to get it back to normal again.

does checking on that link affect your credit score ie lower it once you have checked?

ok. will leave it how i am atm.

no it doesnt, checking your credit rating does not affect it, but applying for credit does, you can check your credit rating daily if you like!

lolliepops, those links are just the 2 main comapnies that hold credit files, you are entitled to see your credit file, its just that if you go through a credit application with say a bank, that will alter your credit score.

PMSL i cant check my credit scaore on one as they dont take debit cards lol!!

what! how ridiculous, how you supposed to pay then???

i would write to them, thats what i did, you send a cheque for a nominal amount and they send your credit score.

credit card lol.

oh fgs!, what about the other site.

if no joy, get their address and write, you always used to be able to write to them.

am just having a look at equifax now.

i have applied. eeek!!