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Credit rating watch

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    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?
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    (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?
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    (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.
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    0% interest credit cards are probably the best ways to get your score up. Use it to purchase items and then pay it off using your debit card.
 
 
 
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