HELP! How can I get a credit card and improve credit rating?

Discussion in 'Professionally Qualified, RAMC and QARANC' started by Sneaky_Barstard, Jul 28, 2006.

Welcome to the Army Rumour Service, ARRSE

The UK's largest and busiest UNofficial military website.

The heart of the site is the forum area, including:

  1. Just wondering if anyone can help?

    I have been in the army 9 years now, ever since leaving school all my addresses have been military addresses. My parents divorced and the family home was sold so I have no civvie home address that I can use. I recently applied for a credit rating as I am wanting to get a mortage and was shocked to find that my credit rating is poorer than a pikey (no offence to pikey's intended) and that a 18 year old chav (again no offence to chav's intended) would have a better chance of getting a credit card than me.

    When I spoke to company they said I would be a offered a wide range of platinium cards had I been able to provide a home address basically I am classifed as homeless according to these credit card companies. Talk about a bit of kick in the nuts! I earn near on 30K a year have no other outgoings and can't even get a credit card.

    Worringly becasue I can't even get a credit card few mortage lenders would even touch me without me getting ripped off by them. So here is the problem I need to a credit card to improve my credit rating so I can get a mortage and buy a house with my girlfriend. As it stands I cant do anything without a civvie address to use but have not lived at one since joining the army, can't use my parents addresses as my mother lives with a her new husband and my dad bless him buggered off overseas!

    Has anyone had similar problems? Any useful advice much appreciated! Its a sad state of affairs when you've served 9 years earn a very good wage and can't even get a bloody credit card! Have reached that point in life when I want to start settleing down with my beautiful girlfriend get a house get married and start planning for a family (It hits us all!) and can't all becasue the facist state I work for considers me homeless! (Joking about the facist bit!) Thats just bloody gratitude for you!

    Can anyone help?
    Many thanks
    Sneaky Barstard.
  2. Your bank will have a good understanding of your financial history, why not ask for a credit card through them?

    There are other credit card companies who will issue provided you have someone who can act as guarantor.

    There fastest way to get your credit rating up is once you have the card, to pay the full balance every month instead of just the min amount.
  3. Know the problem - never took loans etc when I was in - had to ask for a company credit card for expenses when travelling, as no provider would give me a credit card. Now have a "healthy" crediting rating and keep getting offered personal credit cards/loans etc.....
  4. I'm in the complete opposite boat - my bank threw credit cards and overdrafts at me when i was 18 - now the debt i've built up is stopping me from getting in the army!!

    Knew i'd pay for those few years of fun!!

  5. Cheers Moody

    Did consider this but man on the phone with credit rating said it would be best to try and get a credit card like an MBNA card or with some one like Morgan and Stanley as they are international credit lenders and it would improve my credit rating to allow me to get said mortage.

    As I was not planning to use me bank for mortage lending I thought it better to follow the advice above but its being such a pain in the Arrse that I might just get my banks credit card and see if that would help, am hoping this would not restrict my improved credit rating just to my bank.

    Thanks for your help Moody greatly appreciated!

    Many thanks
  6. Sneaky, your best bet is to 'live' at your mum's, even if it's just on paper. Get on the electoral roll and from then on it's all downhill, although it will still take you at least a year to get any decent credit.
  7. As far as I gather the trick is to use any form of credit and pay it back as required. The banks card will do. They want people that repay on time and that's about it. Do it often enough and bobs you're uncle. I've no idea how you stand with regard to military addresses as I'm a civvy but if you can find a permanant address to use that can't hurt.
  8. Check out Equifax or Experian website. You can see your file and make corrections to it for a small fee. It's all explained when you contact them. Hope this helps.

  9. Just keep your adress as at your old dears and get a card throughh your own bank branch who have a history of your "Ins and outs" once you have that you are off the blocks
  10. Thanks to everyone that contributed to this post its much appreciated. Will keep you posted as to the ongoing saga of trying to get a card. Thanks again guys.

    Many Thanks