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I have a bad credit history, can I still get a current account?
As far back as the credit crunch took hold of the UK economy the moneylenders have revaluated their score cards, and because of this, an ever increasing number of individuals are falling into the classification of having a blemished credit score. This constantly makes it harder to organise loans or back of any sort, yet not feasible.
Would it be that characterises bad credit?
There are a few reasons why you could be regarded as having a bad credit record, with a few elements contributing more than others. I have recorded them underneath with the ones that have a greater amount of an effect on your credit score at the highest priority on the rundown;
* CCJ's (County Court Judgements): A region court judgment is connected to your credit score when a moneylender or another person that you owe cash to, look for the assistance of the County Court to make a judgment against you to recover their cash. The CCJ will remain on your credit record for a long time, unless you fork over the required funds inside one month of the judgment being issued.
* Defaults: A default see a formal letter issued for the benefit of a loan specialist to a borrower, and it will express the measure of unfulfilled obligations and will give you a due date for you to keep on making reimbursements. A default see served after a record is in the vicinity of 3 and six months falling behind financially. The default notice will remain for you for a long time and affect your future capacity to loan cash.
* Arrears: Any Arrears or missed instalments will appear on your credit record as unfulfilled obligations before they get to the phase where the loan specialist issues a default take note.
* No past credit: not having an instalment profile on your credit report can affect your credit score, as the moneylenders jump at the chance to see that you have figured out how to keep up reimbursements on past loans and back before offering any vast loans or home loans.
* Electoral enlist: Not being enrolled on the appointive enlist at your present address can likewise drag your credit score down, all things considered, it is essential that you ensure you tell them of any change of address as quickly as time permits.
Kalixa Pay As You Go Account is subject to terms and conditions including applicant providing acceptable ID, being a resident in the UK & aged 18 years+. Prepaid Card & usage fees apply.