financial issues

[merci]

Hi everybody,

I have been in UK less than two years under Tier 1 , I want to apply for a credit card
but It is been declined due to my address information does not cover Uk at least three years,

The same is issue with loans and overdraft . How can we get over this problems, obviously, we are here in intend to settle down, and would like to ingtegrate into the system as soon as possible.

Any idea would be more than welcome
Regards

[tvn_ramesh]

Hi everybody,

I have been in UK less than two years under Tier 1 , I want to apply for a credit card
but It is been declined due to my address information does not cover Uk at least three years,

The same is issue with loans and overdraft . How can we get over this problems, obviously, we are here in intend to settle down, and would like to ingtegrate into the system as soon as possible.

Any idea would be more than welcome
Regards

First of all if you can open a Bank Account with any bank.. then u can get the address proof and then u can apply for account and credit card at the bank of ur choice..

So please see the msg below.. hope it helps..

The best solution is apply halifax easycash account by online. You dont need address proof, all you need is a copy of your passport. You get visa electron card which you can use for shoping and at cash machines to withdraw cash.
You can't apply this at bank branch, its only avilable online meaning that they will send application pack to your address and you need to reply with your fiiled application and a copy of your passport. The thing online only means that they are verifying your address by sending application to your address.
One of my friend did it for his wife and they got it in 7 working days, so I am sure it does work for you also.
go to halifax website and find easy cash account and apply

[gotcha]

Hi everybody,

I have been in UK less than two years under Tier 1 , I want to apply for a credit card
but It is been declined due to my address information does not cover Uk at least three years,

The same is issue with loans and overdraft . How can we get over this problems, obviously, we are here in intend to settle down, and would like to ingtegrate into the system as soon as possible.

Any idea would be more than welcome
Regards

Credit card,loans,over draft depends on your credit history, which takes some time to built. Try different banks, there are some cards suited for beginers.

[ChetanOjha]

Hi everybody,

I have been in UK less than two years under Tier 1 , I want to apply for a credit card
but It is been declined due to my address information does not cover Uk at least three years,

The same is issue with loans and overdraft . How can we get over this problems, obviously, we are here in intend to settle down, and would like to ingtegrate into the system as soon as possible.

Any idea would be more than welcome
Regards

Do not try desperately or apply all the available places. If you are declined multiple times if will affect your credit history and you are more likely to get decline next time.

Approach the bank where you have bank account. They will be able to guide you in a better way. Alternatively, check your credit history and take corrective actions to fix the issue.

[InUkOnHsmp]

Any pointers for such credit cards would be welcome.

I have been with my bank for more than 1 and a half years now but still do not qualify for a credit card.

I have had a Experian credit evaluation done and the results were quite promising the score was 870.

But still when I took it to my bank they said they cant do much if the system does not show me eligible for a credit card.

So any pointers on banks which just provide credit card without the compulsion of having a current account with them, would be welcome!

Regards

[ChetanOjha]

Any pointers for such credit cards would be welcome.

I have been with my bank for more than 1 and a half years now but still do not qualify for a credit card.

I have had a Experian credit evaluation done and the results were quite promising the score was 870.

But still when I took it to my bank they said they cant do much if the system does not show me eligible for a credit card.

So any pointers on banks which just provide credit card without the compulsion of having a current account with them, would be welcome!

Regards

Enrol yourself with Electoral Register. I assume Experion have advised this to you already.

[khurramrafiq]

ok, I am only here since last 20 months, and I got 3 credit cards worth 15000...

SO here what I did.

1. Opened a account on my arrival.
2. Then applied for capitalone and Barcley high intrest rate card for crdit building.
3.Make sure pay off all amount on monthly basis or every 59 days to avoid intrest.
4. After a year I applied for AA, and got the good offer, and then it kept going.

Hope this helps

[vks]

As far as my experience goes;
1. Start up with Barclay's INITIAL CARD, which is what they suggest for ppl who does not have a credit history.
2. HSBC seems to be liberal on the credit aspect
3. May be you should try ICICI UK

[InUkOnHsmp]

hi vks and khurramrafiq,

Thanks for the pointers.

Do these options also work for people who do not have an account with the bank?

Regards

[email257525]

I did couple of things to build up my credit history

1. register with electroral
2. get ur wages in ur bank account
3. keep ur bank accout with lots of credit in (balance)
4. took a loan but return it on time


then apply for credit card, and to start with capital one is the best option

[leoseptember]

I will suggest to start with VANQUIS.

[Sushil-ACCA]

my veiw or way

go to your nain banke, ask them to change yr

profile , if u mentione that u r only salary perosn add self employet

if u told them u r earning 20k add 10 or 15 k to yr earnings , this will get upfated in yr file and things star working for u

hope this work for u

but say figures within yr range

[InUkOnHsmp]

Hi Sushil,

Thanks for your response.

You response was quite tough to read but this is what I could decipher from it.

I should go to my bank and ask them to update my profile and mention that I am self-employed and also increase the amount they have as my annual income.

The query I have is wont they need some proof about my being self-employed? And I do not think it is proper to mention a random figure for annual salary.

I think I will go with banks which provide credit card to people with no credit history.

Thanks all!

[amitc]

Personally I dont think changing profile in bank will help in credit scoring. I came here 4 yrs back as a student and I never changed my profile since then. Now I have 6 credit cards with more than 20000 limit. Now I am planning to close few of the cards to avoid debt.
First thing to do is electoral register, then set direct debit for any bills, salary in bank account, reasonable balance, good transaction history, pay all bills on time, do not apply too many credit cards/loans- any refusal will decrease the credit score. if possible register with any credit scoring agency, they can give good advise.

[Anio]

Hi,

I started out in the same boat. It seems last year end was not such a good time to move to the UK as the recession hit and all financial institutions are wary.

Basically, you will have to 'pay your dues' by using the high interest credit cards like Vanquis, capitalone, aquacard and Barclays initial. Don't apply for credit two months in a row, use one card faithfully, repaying what you owe - they will increase the limit after a while, then apply for another one and use. Once you're eligible for a lower interest card, you can transfer your balance on the higher ones.

A lot of financial juggling I might say but then, this is a tough time to get credit, patience will bring the best results.

[innocentdevil]

takes time to build the credit history. enroll on electoral register and don't apply for too many cards. i'd rather keep one credit card and don't go after alot