I'm a 3rd year undergraduate student at uni. In 2007 I opened a student account with natwest and was given a overdraft of £1250 for my first year and over the years upgraded it therefore my current overdraft is £1450. When i finished my A levels I took a gap year to go traveling (australia, china, brazil, italy etc). However now looking back, i see how immature i was on making late payments on the credit cards I had at the time. Long story short: In the past (between the age of 18-19) i must admit i was not good with managing money and had no idea how late payments would affect my credit score etc. We all learn from our mistakes, and i have definitely learned from mine. I tend to check my credit file/credit rating with equifax every 2-3 months and even though all my payments are up to date (fone contract, car insurance, car finance, credit card) my credit score is STILL very poor after all this years. I have a part time job and i manage to get £700-800 each month, my student account is up to date and i tried applying for a small loan with natwest of £1000 (which i so could afford to pay back) and once again i am declined (i must have applied twice in the last 10 months), I am aware my credit rating is low hence why i have been declined, but how come i am never declined for the overdraft which is now £1450 ???
I am due to graduate in 8 months and obviously in the next 2 years i would like to buy a house, but i am aware it will be extremely difficult to get a mortgage, or even car finance (i only managed to get finance on my current car as i went to a dealer in chertsey called 'yes u can' saw advert on tv and they accept everyone but the catch is the APR is too high). I feel so frustrated at times, as i have NO ccj's, defaults, the only thing i had was late payments a few years back, but clearly can they not see the improvement??
If you can provide any type of suggestions to improve my situation , i will be very grateful.
Many thanks
Hi Han thank you for advice. I have been on the electoral register for a few years.
All the best to you x
Linear Mode
