Refused credit/finance ona TV- advice

[TW]Fox

[TW]Fox

[TW]Fox

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jamief said:
If you can't save up for a TV and have been late paying council tax to the extent that you've been summoned TO COURT on two occasions, it sounds like you were correctly declined.

Can't you just save up £300 and buy a cheap brand?
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Have to agree with this.

Used sensibly and rationally, credit is a great tool - but buying a television with it when, generally speaking, televisions are extremely cheap is not using it as a great tool at all especially with 2 late payments on your file. Unlike something like, say, a house, there are a numerous quality, decent specification televisions around these days, brand new, for a suprisingly small amount of money. You can buy a good TV from a reputable brand for £200-£300. Sure, it wont be a 52" 3D LED TV but then so what?
 

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Don
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No credit record AFAIK is worse than a bad one.
Grab one of the horrendous starter CC's (vanquis) and start building your credit rating up mate. Check electoral roll and definitive get on one of the credit sites to check your report. Do be carefull with the starter CCs and theyre aimed at people who have Credit issues so have ridiculous % APR's to match

CreditExpert currently offering a 30day free trial with £5 cashback thru TCB

I bought my last TV for £700, had £500 cash ad asked for a CC @John Lewis with like a £300 limit, they refused and gave me £2200 lol.

Was sensible with it tho as it was 9months interest free on purchases so just stuck the £500 in the bank and paid the CC £100 a month. No interest and will have all been recoreded on my report :)
 

darael

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ConTRo13R said:
i have never done anything like this before, no credit cards, no contracts. whcih has baffled me no end
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That's why you got turned down - you haven't built up a credit rating yet. Get a credit card, buy something on it, and pay off the balance before the next statement is due. Do this for a few months, and your rating will improve - not magically, however!

Things like council tax will not affect your credit rating, therefore won't affect your ability to get credit.
 

Glaucus

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Telescopi said:
Every time you are late with a payment it goes on your credit record, balanced with the complete absence of any positive news (i.e. paying loans or cards on time) your rating is through the floor.

Think about it, you can't pay the council tax, what chance have you of paying the loan? May not be true, but with no other knowledge of your circumstance that's what they'll think.

If you have some history with a bank they may be more willing, as they know more about your finances.
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Council tax doesn't show up as it's not credit. Only if you get a CCJ would it show up.
The lack of credit would be a big hit. No previuse credit, nothing to rate you for. Also if he's not on electoral register. He needs to do a free 30day sign up and see what it says. No point in paying for score though.
 

The Halk

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Lack of previous credit isn't as big a deal as it used to be. All banks by now should be reporting bank accounts, which by itself should be enough of a credit history for most things. You may not be accepted by companies looking for home owners of course, and many lenders have that as a huge part of their criteria.

Voters roll is the key thing, that and making sure there's nothing bad on there.

It used to be the case that lenders felt the more credit you had and could service properly the more likely you were to be a good risk, but that attitude has changed drastically.
 

grimm

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As long as you can afford the payments you can effectively have as much credit as you want. It's when payments start being missed that problems arise when applying for more credit.
 

wildman

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ConTRo13R said:
So in currys today looking for a tv, pick one go through the process of setting up the monthly payments only for it to be rejected :( and no reason why.

This has me worried about my credit rating, i have never done anything like this before, no credit cards, no contracts. whcih has baffled me no end. i have however had two summons to court for late council tax payments. Would this affect my credit rating?

I dont even know what one is and whether mine is good or bad, and what it is based on, as i gave my parents address, details and stuff. Also how do i know if im on an electoral role

I just want a TV :(
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The highlighetd parts:

1. I fyou never applied for credit before sometimes you don't show up on the credit rating agencies books as being a safe bet as they have no credit history and therefore nothing to do a proper risk assesment against which sometime makes getting a line fo credit difficult but can be overcome.

2. Failure to pay council tax would likely result in the issuance of some kind of a CCJ (When you owe money to someone, they can apply to the County Court for a judgment (CCJ) against you to claim the money. The Court will decide whether there really is a debt to pay. If there is, they will issue a CCJ. This will set out how the debt should be repaid.). However if you cleared the decks with the council and paid up it would show up on your credit rating as a late payment.

So taking this into account, your credit file is fairly empty other than 2 records of late payment for council tax. This could explain why you are getting rejected for finance when they run the search.
 
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