Apply for Credit Card with no Credit HistoryRequesting a credit card without a credit card history
But not everything is gone when you find yourself in this position, and there are choices for those who want to restore their creditworthiness. Our speciality at acqua is to give credit card to those with a bad credit history who want to get their financials back on course. With careful management and timely payment, our credit card services can help you enhance your credit standing and brighten your fiscal perspective.
Creditworthiness: the truths and falsehoods revealed
Use our guidelines on how a good credit rating can offer you the best prices and offers for your product or service. There is a frequent misunderstanding that if you do not have a credit card, you will by default have a good credit rating. As a result, many young individuals and those with no credit history are horrified that their credit card applications are quickly refused.
Do not use a credit card is in no way an indication of impeccable credit worthiness and in no way makes you finance more appealing to creditors than someone who does. It is worrying that 60% of the world' s citizens currently run the threat of being rejected by major creditors as creditors, according to a recent Aqua Credit Card Survey, which examines the UK's credit rating more closely.
The Commission found that in general terms females and adolescents have less difficulty accessing credit, with almost 70% of females and 82% of 18-24 year olds not meeting the requirements set by creditors. Findings show that those who make more than 50,000 or work full-time may also have difficulty getting a credit card or private credit.
Experian's Consumers Director James Jones says: "Your creditworthiness is influenced by a variety of things, among them what credit you had in the past and how you mined it. In particular, this will help the creditor determine whether he can rely on you to pay back loans in the near term.
Unless you are getting a credit card, you may think that you don't need to be concerned about your credit history, but where you are on a provider's credit rating list can impact other parts of your lifes. Creditworthiness is important when applying for other lifestyles related goods andervices.
Often you have to stand a credit test when you sign up with utilities, wireless carriers and wideband service provider or even try to get the best tariffs and offers from these service offerings. However, the results of the survey show that three out of four respondents (79%) have no clue what their creditworthiness is and half (53%) do not know how to enhance it.
Reviewing your legal credit history will cost about 2 from each agent. Those agents also provide free of charge service where you can get a general overview of what your profiles look like. Please be aware - multiple application for finance product, credit profiling request and other service that requires a credit review can make a mark on your credit profiling.
Doing so may adversely impact your credit rating. This may be the case with some vendors, such as being declined by many others due to the number of credit scores in your account history. If you receive your reports, make sure you review everything in the reports. When you do not agree with something, contact the firm from which you received the message and ask them to modify it and they can do so for you.
However, if you are able to change this, it is worthwhile to get your credit history from the other credit rating companies to make sure that the mistake is not also on them. The Money Advice Service states that your credit reports will usually contain the following information: - This is a listing of your credit account, opening date, credit limit or amount of credit, such as credit card, credit, catalogue account, branch credit, mortgage, etc.
- Information on delayed or misspent payment and the number of misspent payment where this information is provided by the creditor. - Detail of all persons connected to you financially, which means that you have taken out a common loan. - Information of general interest such as County Court rulings (referred to in Scotland as "decrees"), home ownership and insolvencies for six years after their occurrence.
- Bank info - will remain on your reports for up to six years after you have settled or closed an account. Please see your bank info for further information. - Your supplier of open accounts, but only information on open accounts. - If your name has been used for frauds, a notice from CIFAS (the UK Counterfounder) to check your information thoroughly and not have your information rejected or rewarded by the fraudsters themselves.
- And from this year the rental fees will also appear on your personal account, so speak to your lessor in advance if you think you will have difficulty to pay the month's rental. "A few easy moves to increase your scores can have a big influence on your lifestyle.
"Matters like making sure you're on the voters list, that your credit file has the latest information, that you settle your invoices on schedule, and that you only apply for credit when you need it make a big difference. Your credit history is a great place to start. Keep in mind that vendors are not looking for an excellent credit rating as they are unlikely to make a living with someone who always buys on schedule every single months.
Less than excellent creditworthiness is also a financial proposition. Generally, vendors are looking for the right equilibrium between risks and returns. The top tip to improve your credit rating: - Make sure that there is no false information in your credit file - review it periodically and fix it if it is false.
- Try not to use more than 75% of your available credit line. - Look into specialized credit card companies that help individuals develop and enhance their borrowing. - Only apply for a product when you really need it - more than four types of credit in one year can reduce your creditworthiness.
- Do not apply for more than one item at a stretch, as each request may have a detrimental effect on creditworthiness. - Shut down old credit card account and reverse old debit entries. - Termination of former partner companies' cooperation. While their own creditworthiness will have no effect on yours, it will bring out a great deal of products along with them.
- Do not take out more than two types of credit within a six-month timeframe.