KD1711 Posted September 3, 2014 Share Posted September 3, 2014 Hi, I was just looking for some advice on how to rebuild my credit rating, and the timescales that it would take. I opened an account with Noddle to get my free report and it's sitting at a 1 out of 5. I have 3 defaults totalling about £950 which I am going to have clear within the next 3 months. Has anyone got advice on how long it will take or best practice to get the rating back up? The defaults were a phone contract, credit card and provvy loan, all from around 2-4 years ago. I have some credit just now with a phone contract, 2 catalogue accounts, a virgin media account as well as having gas and electricity and car insurance in my name. Any help is appreciated as I'm looking to within the next 3 years try and get a mortgage in my name, so trying to get it built up. Thanks in advance. Link to comment Share on other sites More sharing options...
Gaz Posted September 3, 2014 Share Posted September 3, 2014 Defaults drop off your file five years after the lender marks it as default. The best way to rebuild your credit history is to get a credit-building credit card, buy something like your groceries / petrol on it every month, and pay it off in full every month. Credit scores are worthless, by the way, just a gimmick put there by rating companies. Link to comment Share on other sites More sharing options...
WullieBroonIsGod Posted September 3, 2014 Share Posted September 3, 2014 http://www.moneysavingexpert.com/loans/credit-rating-credit-score Link to comment Share on other sites More sharing options...
cracowjambo Posted September 4, 2014 Share Posted September 4, 2014 Hi, I was just looking for some advice on how to rebuild my credit rating, and the timescales that it would take. I opened an account with Noddle to get my free report and it's sitting at a 1 out of 5. I have 3 defaults totalling about £950 which I am going to have clear within the next 3 months. Has anyone got advice on how long it will take or best practice to get the rating back up? The defaults were a phone contract, credit card and provvy loan, all from around 2-4 years ago. I have some credit just now with a phone contract, 2 catalogue accounts, a virgin media account as well as having gas and electricity and car insurance in my name. Any help is appreciated as I'm looking to within the next 3 years try and get a mortgage in my name, so trying to get it built up. Thanks in advance. Go bankrupt Link to comment Share on other sites More sharing options...
Septentrional Wasp Posted September 4, 2014 Share Posted September 4, 2014 Register to vote. Being on the electoral role will help you a fair bit. Link to comment Share on other sites More sharing options...
M0rtonfc Posted September 4, 2014 Share Posted September 4, 2014 I'm sorry to tell you this but it's a long affair this! I had a pretty bad credit history when I was younger, about 10 years ago I had a credit card, overdraft, mobile account and missed payments on all of them. I've been debt free now and not missed a payment for over 8 years now and I still get rejected for a credit card and store credit, it takes longer than the 5 years, well for me anyway! I made sure nothing was sitting on my credit report outstanding and it's clean but still I get rejected. I managed to obtain a credit card with some cowboy firm and started using this, just buying stuff and clearing it at the end of the month to avoid any extra fee's and let my score build up, this probably helped me big time not to mention my SKY, Mobile and stuff. I've spoke to people and been told I should be fine in a few months, not sure why it's taken this long but I had missed loads of payments in the past. I would hate myself for being a tool when I was younger but I can't because I was out 4 nights a week with the lads which was fucking beezer! Link to comment Share on other sites More sharing options...
cracowjambo Posted September 4, 2014 Share Posted September 4, 2014 Shut up. f**k YOU ASSHOLE Link to comment Share on other sites More sharing options...
THE KING Posted September 4, 2014 Share Posted September 4, 2014 Ignore it ,,who gives a f**k. Link to comment Share on other sites More sharing options...
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