Resolved Question
Likleyhood of me obtaining credit?
i have 2 virgin mobile contracts in my name since october and im 18 im on the electrol role and have paid all my bills on time i have a landline in my name too with virgin media, today i applied for a bt landline and they passed the credit check and asked for no deposit whats the liklyhood of me getting a credit card or catlog by the way i was declined by littlewoods what catlog would accept me
Additional Details
MAY BE A POOR IDEA BUT GUESS WHAT WHEN I NEED SOMTHING LIKE A WASHING MACHINE THEY WILL DECLINE IT DUE TO LACK OF CREDIT I ASKED FOR A CARD OR CATLOG NOT A LEUCTURE
1 week ago
Best Answer - Chosen by Asker
If you're 18 and you have no credit cards yet, and have a debit account always in credit and no history of overdrawing it, and just have the 2 mobile contracts and landlines and no history of defaults you may be 80% likely to be accepted by at least 1 or 2 credit card companies, however, you need to be employed and earning a regular salary.
You're bound to be accepted by at least 1 credit card company - even if it is a high interest rate card like Aqua.
As for Littlewoods, again, the issue is you need to be employed and earning a regular salary and have a good credit history. Also you don't appear to have a history of credit so you need to build that up to be accepted. In addition, the department stores have a tradition of requiring excellent credit history.
I'd strongly advise you to a order your credit files from Equifax, Experian and Call Credit and had a look at the latest info. You just need to write to these companies and ask for your credit report, enclosing a £2 statutory fee. Follow the instructions here: http://www.ico.gov.uk/for_the_public/top…
Remember: there is a financial crisis which is making it harder for companies to offer credit. I wouldn't be surprised if you were turned down.
You're bound to be accepted by at least 1 credit card company - even if it is a high interest rate card like Aqua.
As for Littlewoods, again, the issue is you need to be employed and earning a regular salary and have a good credit history. Also you don't appear to have a history of credit so you need to build that up to be accepted. In addition, the department stores have a tradition of requiring excellent credit history.
I'd strongly advise you to a order your credit files from Equifax, Experian and Call Credit and had a look at the latest info. You just need to write to these companies and ask for your credit report, enclosing a £2 statutory fee. Follow the instructions here: http://www.ico.gov.uk/for_the_public/top…
Remember: there is a financial crisis which is making it harder for companies to offer credit. I wouldn't be surprised if you were turned down.
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Other Answers (2)
- Why are you eager to take on debts which can snowball? A credit card may not be a bad idea, but catalogues are very poor value for money.
Edit - credit reports - sometimes companies like Experian offer "free trials" on their website for access to you credit report. This may be for a fixed period like 3 months, after which you pay a fee. You will need to register a debit card to pay before you get the free trial. If you just want to see your report, simply register, use up the free trial time, and then cancel it. - Good places for you to try for a credit card:
www.householdbank.com
www.orchardbank.com
www.capitalone.com
They have some cards that are geared toward no credit or lower credit ratings.
Just be sure to use your new cards responsibly!
Good luck!
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