Credit rating

I've been paying a phone contract in full and on time for nearly two years now and my credit rating has barely improved, it's still poor. I have a student overdraft and used a payday lender once, and paid it back on time too. I'm on the electoral roll.

I am looking to get a student credit card to make everyday payments on, after a month or two of using it and paying the bill should my credit rating have gone up? Wouldn't this be a relatively quick way of building it up?

Reply 1

claireestelle

22

Original post by LukeyJB

I've been paying a phone contract in full and on time for nearly two years now and my credit rating has barely improved, it's still poor. I have a student overdraft and used a payday lender once, and paid it back on time too. I'm on the electoral roll.

I am looking to get a student credit card to make everyday payments on, after a month or two of using it and paying the bill should my credit rating have gone up? Wouldn't this be a relatively quick way of building it up?

That payday loan might have had an effect on your credit report, have you gotten a copy of your report in full?
Do you pay any direct debits at all?

Reply 2

Reue

20

Original post by LukeyJB

I've been paying a phone contract in full and on time for nearly two years now and my credit rating has barely improved, it's still poor. I have a student overdraft and used a payday lender once, and paid it back on time too. I'm on the electoral roll.

I am looking to get a student credit card to make everyday payments on, after a month or two of using it and paying the bill should my credit rating have gone up? Wouldn't this be a relatively quick way of building it up?

What do the records actually say? Do they give any indication why it's poor? Remember that all the credit agencies have their own methods for calculating credit score.