Credit rating

Discussion in 'Army Pay, Claims & JPA' started by mission, Apr 23, 2006.

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  1. HI all just wondered if anybody could explain the process of getting a credit rating. Been in the army for 7 yrs and have only just put my name on the voters poll but know i'll have to wait till oct for that to take effect. Was wondering if there's anything else i need to do or any way of getting a credit rating faster. Basically i'm having trouble getting finance on the new big telly i want, i should be leaving germany soon but would like to have the tax free telly on finance from ssvc when i leave. thanks
  2. For some reason if you have never had credit then you are classed as a bad risk and there isn't much you can do about this short term. One thing you should do is apply for a well known credit card (never use it) but the fact you have one means you show up when they do a credit search on you.
  3. If you're not on the electoral register you wont be able to obtain credit from any reputable source. Wait till October, a big telly is nice to have, but its not worth getting yourself up to your neck in debt for.
  4. I have never appeared on the electoral register but I have a brilliant credit rating (apparently). All I have done is apply for said credit card and then own every store card I can get my hands on but never use any of them more than the first time.
  5. If you've never been in debt before, then you're credit rating will be pants (as you have just found out).

    If you've been in humongous debt but made the minimum payments each month, then you are a fool with money but your credit rating will be brilliant - you are just the type of mug the banks look for to make a profit from your hard-earned cash.

    The Sparkasse will not lend you any money and it's not worth getting into debt with SSVC finance/UK bank loan just to get your TV early. Save your money and get one just before you leave or when you get back to UK and have saved enough.

    Top Tip: stay away from the BFG car finance deals as well if you want to avoid being stitched big time.
  6. What makes you think you have a "brilliant" credit rating? You say you have applied for a credit card, presumably, they havent actually issued you with one.
    If you are over 18 you should be registered to vote, if not, you're a chancer and a poor credit risk. Store cards are universally condemned by anyone with even an ounce of financial savvy. There are ways to obtain risky credit, avoid them, as your life can be irrevocably blighted by debt.
  7. Wrong forum, I reckon. Try posting to Finance and the experts there should be able to advise you.

    When visiting Germany recently, I priced up the big flat-screen and was surprised to find that it was cheaper in the UK. Much cheaper. Specifically the Pioneer 42 inch.

    But there again, should I have been surprised? It was the NAAFI, after all!

  8. When I applied for my mortgage the building society made a big thing about me having such a good credit rating - and offered me loads more money than I actually wanted or could afford (which is why I said apparently). I have more credit cards than you can shake a stick at and have never used any of them more than once - just use them to get the opening discount and then pay them off in full. Only debt I have is my mortgage :D

    Hubby and I are registered, as service voters, at his brother's address so if anyone checks me out for credit I don't appear at my current or any previous addresses (which is why I say I am not registered because I don't appear).

    You are quite right debt is something that should not be taken lightly and can affect the rest of your life very easily.
  9. read instead much more educational.... well at least till you get youre credit rating up! By then you will thank me cos a new era of Televisions will be out!
  10. I would second this. After numerous years in Germany I was concerned over my credit rating. I applied for two credit cards 1 year before UK posting and used them for small purchases paid off every month. Never had any probs with obtaining mortgage etc. Experian are currently running a free trial credit check for 30 days. Might be worth a visit to their internet site. You need a credit or debit card to register for the free trial though. :lol: