3 years ago I had a clean out of the wallet - all credit cards cancelled apart from 1 and 1 x debit card. All goes well until the CC splits and cannot be used. About 1 week later a new car arrives and all is well.
Then I thought that I should have another, for emergencies so I applied on line for a well known CC - I had had 2 x from that Bank from 1984-2009 -never missed a payment and fully paid each month - I never pay interest on cards.
Low and behold I was refused...........I checked with Experian, Call Credit & Equifax - all clear, no bad marks, nothing out of line.
Eventually wrote and asked why. The reply was I had no history apart from1 x current card, no mortgage, no HP, etc.................because I had no history the answer was NO!
Reasonable Pension, own 100% home, no debts,....................but not Credit Worthy to that CC Company
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I am now in exactly that position. No mortgage, no loans, no debts, Home owner, money in bank, credit score - lousy.
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>> I am now in exactly that position. No mortgage, no loans, no debts, Home owner,
>> money in bank, credit score - lousy.
>>
I am in a similar position - no debts and all paid off BUT
I have cancelled CC that were no longer wanted but retained several that I have had for decades that have a high limit on them.
I have long been aware of how to avoid a poor credit rating.
I also ensiure that I take MC and VISA on holiday and on person thus avoiding situations wher one of the systems is down.
I have NEVER ever used my debit card but all our purchases go on our John Lewis card so we get vouchers every quarter.
I am amazed at so many folks not getting rewards on their cards.
I raised my limit by a big chunk this week ( very short term need plus I get rewards) and all sorted in an hour.
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>> I am now in exactly that position. No mortgage, no loans, no debts, Home owner,
>> money in bank, credit score - lousy.
+1.........They're a law unto...... etc.
Wifey's paygo mobile needed topping up so stuck £30 in on me debit card. Checked mine, needed a top-up, same provider and it wouldn't accept the same card....twice. Money in account.....so no problem, so did it on credit card, again, no problem.....mystery.
Ted
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>> same provider and it wouldn't accept the same card
Anti-fraud thing Ted. Multiple consecutive transactions by the same card at the same retailer can be a sign of a cloned card being emptied.
The card terminal at the sleepy village petrol station I worked in 20 years ago wouldn't authorise the same card twice in succession, sometimes caused a problem if a chap filled up his own car and returned half an hour later with his wife's when I'd had no card transactions inbetween.
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>>Anti-fraud thing Ted. Multiple consecutive transactions by the same card at the same retailer can be a sign of a cloned card being emptied.
>>
A few years back SWMO bought several items in M&S and had just paid for them as I arrived at the till with another item. When I tried to pay with my CC ( on the same account).....Yes it triggered an alarm and the heavies & a superviser were soon by my side.
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>> No mortgage, no loans, no debts, Home owner, money in bank
I wish I had you problems! :)
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>> >> No mortgage, no loans, no debts, Home owner, money in bank
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>> I wish I had you problems! :)
>>
You wouldn't, Zero's situation is the same as mine and it's a by product of old age.
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>> You wouldn't, Zero's situation is the same as mine and it's a by product of
>> old age.
>>
Spot on Robin...at least these young whippersnappers can get out and about. It's just a case of spending your old age with cash in the bank and not being able to do anything but slump in a chair dribbling gently into a tissue.
Ted
Last edited by: Ted on Sun 17 Jun 12 at 15:45
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>> Spot on Robin...at least these young whippersnappers can get out and about. It's just a
>> case of spending your old age with cash in the bank and not being able
>> to do anything but slump in a chair dribbling gently into a tissue.
>>
>> Ted
>>
I am off around the Baltic capitals soon, My plan is to spend it before the kids or government get it, (they don't need it), and I am too old to enjoy spending it.
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>> not being able to do anything but slump in a chair dribbling gently into a tissue.
Whatever happened to lurching about uttering threatening shouts and spitting wildly in all directions? The old today are a shadow of their former selves. Pathetic.
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>> Whatever happened to lurching about uttering threatening shouts and spitting wildly in all directions? The
>> old today are a shadow of their former selves. Pathetic.
>>
Don't get complacent, beware the nice old boy/girl armed with a walking stick. :-)
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>> >> You wouldn't, Zero's situation is the same as mine and it's a by product of old age.
>> >>
>> Spot on Robin...at least these young whippersnappers can get out and about. >> It's just a case of spending your old age with cash in the bank and not being able to do anything but slump in a chair dribbling gently into a tissue.
>>
and other problems .......wots a tissue and why am I here- Oh well I will probably think of it soon ?
My two offspring both have very good jobs, one in the NHS who will never be out of a job and my son who will always find a job.
So I am spending funds to enjoy things while I can knowing that it reduces the goverment take and eventually the rest of the funds is for the two of them.
I am oh so fortunate having funds but still, after a life of being reasonably careful with £££s, I still cannot get used to spending money.
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>> Zero's situation is the same as mine and it's a by product of
>> old age.
And there's me thinking he was only in his fifties.
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>> >> Zero's situation is the same as mine and it's a by product of
>> >> old age.
>>
>> And there's me thinking he was only in his fifties.
Quite right. Got 8 years to go before I get my OAP and bus pass (unless the gov push it back AGAIN)
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>> >> >> Zero's situation is the same as mine and it's a by product of
>> >> >> old age.
>> >>
I haven't had a mortgage since I was 35, but fortunately I got my CC before then in the bad old days when they used to hand them out to (ie force them on) anyone.
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They are probably also assuming that you will pay off any balance in full everytime so they will not make any money out of you !
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>> They are probably also assuming that you will pay off any balance in full everytime
>> so they will not make any money out of you !
>>
They still make money out of you through the retailer.
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Same here - my credit score is reasonable still - kept it up with a contract phone, but I was surprised that my score had dipped somewhat. As part of a package with Lloyds TSB I have access to credit rating website and text alerts for any unexpected changes in my credit profile. Very quiet 99 per cent of the time but went haywire when I accessed comparison websites to get a quote on the Beemer. They also text me my bank balance - I wish they'd leave the LOL out at the end of the message though !
Seriously I hope I'll never need to to take any credit out again in this lifetime.
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>>I wish they'd leave the LOL out at the end of the message though !
>>
How else would Mr Cameron let you know all was OK with the world ? ;-)
Last edited by: gmac on Sun 17 Jun 12 at 23:29
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>> Reasonable Pension, own 100% home, no debts,....................but not Credit Worthy to that CC Company
>>
Me too, I had this discussion with one of my banks employees a few days ago while discussing investments. His answer was, "Come and see us, it will not be a problem".
Last edited by: Old Navy on Sun 17 Jun 12 at 12:10
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Much the same experience with Smile when we wanted a joint credit card - no problem, verbally confirmed over the phone an e-mail 12 hours later in confirmation. Avoid crap banks. We all know who they are.
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Credit card companies make money when people buy on credit and then pay interest on that.
If you have habit of paying off your loans before time or never pay interest, you are not an earner for them.
Credit score has been designed to make thrift spending look like an embarrassment.
Last edited by: movilogo on Sun 17 Jun 12 at 13:57
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The reason is that if you have no re-payment record good or bad that the credit providers become rightly cautious of someone with no history. Bit like buying a car !
The comfort is that if you are a known/good risk having instant credit in your pocket via a credit card is an advantage.
Try getting credit with a CCJ or millstone debt....
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I have no credit history in the UK for almost 11 years, was not on the electoral register until the census last year and no mainline CC co would look at me, in spite of outright home ownership etc, etc.
I have gritted my teeth at an alarmingly high APR with Vanquis - part of Provident and obtained a card with a limit of five hundred quid!
I am now using the card, paying off big (!) chunks, but maintaining the DD monthly payments too.
As soon as I have a credit history I will ditch the usurers and try one of the major card issuers again.
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>> Try getting credit with a CCJ or millstone debt....
A while after my bankruptcy discharge I applied for a "poor-credit" card purely to take advantage of the section 75 purchase protection rules. No chance.
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>> .......... I checked with Experian, Call Credit & Equifax - ..........
Apart from mortgages I've only ever bought one thing on credit and that was a car with 0% interest for 12 months, which was an offer I couldn't refuse. I'm just curious about my credit rating, but are there any disadvantages to asking a credit check company ~ cost, subsequent junk mail or telephone calls etc.?
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Experian is the one CAB recommend. They offer a free trial - just remember to cancel.
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Or for two quid (IIRC) you have paid for it up front and no complications and no remembering!
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Try noddle:
www.noddle.co.uk/
Free credit checks - for life apparently.
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Thanks DE, although I tried it just now and it couldn't verify my identity. Will try again later.
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Credit card refused! - Zero
