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....“Individuals do not really have a genuine choice as to whether their data is shared, as saying ‘no’ will effectively stop them getting the loan,” it says. “It is unlikely that most people would consent to this sharing if they did have the choice, especially those with a poor credit history. ... [Read full article on Guardian ]
Monday 17th of July 2017 06:00:43 AM
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Latest Finance News related to Credit History

How credit score agencies have the power to make or break lives image
Source : Guardian [Read Article] Monday 17th of July 2017 06:00:43 AM
....“Individuals do not really have a genuine choice as to whether their data is shared, as saying ‘no’ will effectively stop them getting the loan,” it says. “It is unlikely that most people would consent to this sharing if they did have the choice, especially those with a poor credit history. ...
Will cheap car loans steer Britain to a financial crash? image
Source : Guardian [Read Article] Saturday 8th of July 2017 06:00:00 AM
.... Maybe you are so hard up you can’t afford to put down a penny in deposit. Maybe your credit history is littered with arrears notices. ...
Are cheap car loans the vehicle taking us to the next financial crash? image
Source : Guardian [Read Article] Saturday 10th of June 2017 03:00:29 PM
.... It says PCPs are sold responsibly and only to those people with a strong credit score, yet lenders’ credit scoring policies, which are relatively transparent in the US – the original home of the PCP – are secret in the UK. Officials at the Financial Conduct Authority, the City regulator, have embarked on a review of lenders’ practices, including how they credit-score customers and the amount of checking that takes place of customer incomes and credit history. ...
THESE credit cards can help YOU improve your credit rating image
Source : Daily Express [Read Article] Saturday 6th of May 2017 05:04:00 PM
....However, there are special options that give people a chance to restore their rating - as long as repayments are met. Credit repair cards can help low income borrowers, the self-employed, as well as those without a credit history and with CCJs, according to Moneyfacts. ...
Lords call for the banks to get back to basics image
Source : Guardian [Read Article] Saturday 25th of March 2017 07:00:02 AM
.... It claims that in some cases, even branch staff are unfamiliar with them, and recommends that the government should “require” banks to properly promote them, in branches and via advertising. So what exactly is a basic bank account, who are they aimed at, and what about some of the alternatives to a traditional current account suitable for the people the big banks don’t want or struggle to cater for, such as migrants and those with a poor credit history?. ...
‘Debt is like fire': Martin Lewis's guide to using a credit card image
Source : Guardian [Read Article] Wednesday 11th of January 2017 03:33:45 PM
....No pressure. If you have a bad credit score or no credit history, getting a card and spending 50 quid a month, paying it off in full with a direct debit, is a good thing. ...
For love or money image
Source : BBC [Read Article] Sunday 8th of January 2017 12:56:25 AM
....Joint accounts allow people to share the rewards and convenience, but they also share the risk. Opening a joint account means a couple will be co-scored by credit reference agencies, so if one has a poor credit history it can affect the other. ...
Smart money? image
Source : BBC [Read Article] Friday 2nd of December 2016 12:23:08 AM
.... How was it able to do this? . "Examples of the data we take into consideration are an applicant's free cash flow, earning potential, credit history, education, location, and many more data points," CommonBond chief marketing officer Phil DeGisi tells the BBC. ...
Finding the right credit card ahead of your Christmas shopping image
Source : Daily Express [Read Article] Wednesday 9th of November 2016 09:14:00 AM
....uk’s founder Tom Eyre said too many fail to realise that our credit histories impact both our access to credit and also how much we pay for it. “Lenders base interest rates on how much they trust us, and our credit history goes a long way to creating that trust,” said Eyre. ...
Struggling to get on the housing ladder? Why not buy with friends image
Source : Guardian [Read Article] Monday 26th of September 2016 05:59:22 AM
....“All credit scores will be taken into account,” says Ansar Afsar from broker We Know Mortgages. “You’ll need to know whether the person you are buying with has any problems with their credit history which could affect your chances of getting a mortgage. ...
More light, better life image
Source : BBC [Read Article] Thursday 15th of September 2016 11:42:30 PM
...."Before you buy our product, you have a challenge to get anything on credit. You live in the middle of nowhere, you have no credit history, and no collateral," Mr Heller says. ...
New students face tricky choice of bank image
Source : BBC [Read Article] Friday 2nd of September 2016 09:06:38 PM
....An overdraft is not guaranteed. Anyone wishing to borrow larger sums than an initial £500 or so may need to go through an application and will have checks on any credit history. ...
REVEALED: If you went to university you’ll find it HARDER to buy a house image
Source : Daily Express [Read Article] Monday 1st of August 2016 02:09:00 PM
....A failed application for a mortgage or credit can damage a person's credit score further. Around a third of 18-24-year-olds were found to be unaware over how credit history affects the chances of getting a mortgage. ...
You’ve graduated – so what happens to your bank account? image
Source : Guardian [Read Article] Saturday 23rd of July 2016 06:01:32 AM
.... Correctly managing essential debt throughout your student experience will help you get a better credit score. Conversely, having no credit history can be just as troublesome as having a poor rating: without a history of spending and repayments, a bank may be less willing to loan you money. ...
An old Cashplus prepaid card has ruined my credit rating image
Source : Guardian [Read Article] Sunday 5th of June 2016 06:00:32 AM
....After numerous calls to Advanced Payment Solutions I found out that it had applied a “credit booster” product to the card at £4. 99 per month for 12 months, to build a credit history. ...
Have student loan interest rates really shot up? image
Source : Guardian [Read Article] Friday 27th of May 2016 04:22:18 PM
....Because they can’t. Students typically don’t have the salary or credit history to secure the best deals. ...
Two cheers for Google’s ban on payday loan ads image
Source : Guardian [Read Article] Saturday 14th of May 2016 06:01:29 AM
.... Google says “revolving lines of credit” such as credit cards are exempt from its 36% limit. In any case, when I searched for cards for people with less than perfect credit history, I found ads for Capital One’s Classic card at 34. ...
The digital upstarts offering app-only banking for smartphone users image
Source : Guardian [Read Article] Saturday 14th of May 2016 06:00:29 AM
.... Many of these products and companies are not directly covered by any compensation scheme. Some of these, such as Pockit and Monese, are targeting the millions of people whom the traditional banks either don’t want or struggle to cater for, such as those with a poor credit history. ...
Why it pays to keep track of the score of your credit image
Source : Daily Express [Read Article] Wednesday 4th of May 2016 10:58:00 AM
....”. Ironically, Britons who have never borrowed a penny may have a poor credit history as underwriters do not have enough information to judge their creditworthiness. ...
What to do if your child’s mobile phone bill starts to ring alarm bells image
.... The Three network deserves similar praise, as does Carphone Warehouse’s new 4G plan called iD. If your child has access to a paid-monthly plan with another provider, however, you’re at risk of a massive bill that could damage your own credit history if you are unable to pay. ...
Apps are getting millennials interested in money – but can they be trusted? image
.... These handy apps make it possible for them to make large purchases online, while Affirm, for instance, uses everything from social media signals to your zip code to assess your ability and willingness to repay what you owe on what its founder described as a digital charge card. These companies will talk a lot about the services they provide, and certainly what millennials using Affirm and Klarna need most is affordable credit and the ability to build a credit history. ...
What it takes to be a migrant entrepreneur image
Source : Guardian [Read Article] Wednesday 16th of March 2016 07:53:06 AM
.... Between September and December last year I ran a pilot programme called migrant business accelerator to understand the challenges migrants face when trying to set up a business in the UK. The most common barriers were sourcing funding (because of lack of credit history), networking (as they lacked a social history in the UK), limited knowledge (lack of experience of working in the UK) and culture shock (lack of integration). ...
Millions of abusive partners use withholding cash as a weapon image
Source : Daily Express [Read Article] Friday 11th of December 2015 04:52:00 PM
.... "Victims of financial abuse are often unable to open bank accounts due to lack of relevant identification documentation post-separation. "The lack of, or poor credit history as a result of partner behaviour, or paper-based account management processes put victims at risk of being unintentionally found. ...
WARNING: The sick scammers targeting elderly and poor this Christmas image
Source : Daily Express [Read Article] Wednesday 9th of December 2015 04:27:00 PM
....At the same time, there is set to be a spike in stolen identities used to make fraudulent applications for mortgages, current accounts and insurance policies, according to Experian. Trusting older couples and pensioners are a key target, said the credit history provider. ...
Why millennials should use holiday expenses to build credit card knowhow image
Source : Guardian [Read Article] Friday 4th of December 2015 12:00:21 PM
....For the time being, however, it’s still a lot easier to apply for a credit card and build a credit rating the conventional way – by proving you can manage small amounts of it responsibly. Right now, the fact that millennials – as a group – still have the lowest average credit score among major demographic groups reflects not only the fact that they have the shortest credit history, but the reality that they don’t seem to be seeking out that credit, either. ...
Freelancers: don't hoop-jump for a mortgage, follow this advice image
Source : Guardian [Read Article] Monday 30th of November 2015 07:00:02 AM
....Is your partner’s income higher than yours? Is her or she in full-time employment? If so, it may help your chances if your partner takes the lead on the application. The no-brainer, but it’s the big one; a poor credit history equals poor chances on a mortgage application. ...
Why borrowers with bigger debts have just had a credit score boost image
Source : Telegraph [Read Article] Friday 27th of November 2015 12:16:27 PM
.... . • Barclaycard give millions of customers free credit score access• Five easy ways to wreck a perfect credit history • How to check your credit score for free . ...
Barclaycard and Tesco Bank give millions of customers free access to their credit score image
.... . • How to check your credit score for free• Martin Lewis: 20 things you must know to boost your credit score• Five easy ways to wreck a perfect credit history . ...
They’re back … the sub-prime mortgage market has returned image
Source : Guardian [Read Article] Saturday 31st of October 2015 07:01:12 AM
....But don’t call them sub-prime mortgages. Sub-prime is now a dirty word – instead, these firms talk about home loans for people with an “adverse credit history”, and “failed credit score mortgage lending”. ...
The cost of NY's new nail salon rules image
Source : BBC [Read Article] Thursday 29th of October 2015 12:00:56 AM
.... . However, because Ms Choi is a relatively new immigrant she has no credit history making it difficult for her to get approval for a bond, without which she can't renew her licence to operate. ...
Forget payday lenders – there’s a much better way to borrow image
Source : Guardian [Read Article] Saturday 24th of October 2015 06:00:12 AM
....Wonga charges an APR of 1,509%, QuickQuid 1,270%, while doorstep seller Provident -Financial quotes 1,068%. Yet there is an alternative source of loans for hard-pressed individuals without a good credit history, and where interest rates start at just 12. ...
Vodafone makes mother pick up £2,000 bill for multiple phones for son with learning difficulties image
.... Although he was on benefits, he passed the relevant credit check using established criteria. “Being in receipt of benefits does not prevent someone from taking out an agreement for a mobile phone, provided they have a reasonable credit history, which he clearly did. ...
How your life can be turned on its head by credit agencies who get it wrong image
.... It’s impossible to secure a mortgage, take out a mobile phone contract or sign up to a utilities company without their sanction. In theory, it’s the lenders who decide whether to take on a customer based on the credit history sold by the reference agencies; in practice, all three sell software to help financial institutions interpret their data. ...
Credit crisis after husband’s death  image
Source : Telegraph [Read Article] Tuesday 29th of September 2015 09:10:57 AM
.... . I am 60 now and trying to move on with my life but there is a huge blemish on my previously clear credit history. ...
'Expats for 60 years and £220,000 cash – can we afford to move back to Britain?' image
.... You may also have limited choice when it comes to credit cards, as lenders will not know your borrowing history. Aqua, Vanquis and Capital One offer credit cards with low limits for people with a limited or poor credit history. ...
Can’t open a conventional bank account? Meet the alternatives image
Source : Guardian [Read Article] Saturday 19th of September 2015 05:59:08 AM
.... And it claims that someone who has literally just arrived in Britain can open an account in less than three minutes, before they have even collected their baggage from the carousel. Monese is one of a growing number of mainly smartphone-based services hoping to revolutionise banking – particularly when it comes to the millions of people that the traditional banks don’t want or struggle to cater for, such as those who can’t provide proof of a UK address or have a poor credit history. ...
I need a bank account to get paid but no one will give me one image
Source : Guardian [Read Article] Friday 11th of September 2015 06:00:17 AM
.... If you are on PAYE your tax code notice will do. Another obstacle will be a lack of credit history. ...
The personality test that could one day decide your credit score image
Source : Independent [Read Article] Wednesday 2nd of September 2015 03:41:12 PM
....Such tests are already under trial with a major High Street bank already close to signing the deal, according to MoneyMail. They could be of particular help to young borrowers such as student or applicants with little credit history. ...
Facebook's new patent could mean you are denied a loan because of your friends image
Source : Independent [Read Article] Wednesday 2nd of September 2015 11:04:30 AM
....Facebook declined to comment on how such a patent would be used. But its existence marks a departure from the traditional ways of determining credit-worthiness by looking at a person's credit history and how much debt they owe. ...
Five tricks to shave supermarket shopping bills – without buying basic image
Source : Telegraph [Read Article] Monday 31st of August 2015 08:32:42 AM
.... Aqua's Reward credit card also offers 0. 5pc on all spending, and is available to most borrowers, including those with a poor credit history. ...
Did big personalities worsen the financial crash? image
Source : BBC [Read Article] Monday 24th of August 2015 09:13:33 AM
.... . In June 2007, Bloomberg Markets magazine dedicated an issue ("Toxic Debt") to a 36-page special edition on the dangers of subprime mortgages - home loans made to people with a riskier credit history - and the mortgage-backed securities associated with them. ...
Dear Labor conference, please don't forget how payday lenders hurt poor people | Van Badham image
....“Payday lenders” issue short-term loans of up to $2,000 to be repaid over weeks or months. The name is clever marketing to suggest a mere tiding-over until payday, but with lax regulation around pre-assessing credit history or income, the loans are easily accessible to those whose circumstances are vulnerable to change. ...
Generation rent: how does it feel to be locked out of the housing market? image
....I’ve been lucky to have had a couple of good landlords and access to a guarantor. Many credit companies now insist on a guarantor if you haven’t rented in the last three months, even if you have a great credit history and an unbroken line of rent before that. ...
Peter Vicary-Smith interview: Which? chief on why he has the pensions industry in his sights image
....”. Another new venture he has pioneered is Trusted Traders, a database of handymen rated by an army of ex-trading standards officers who check everything from qualifications and credit history to customer complaints. ...
Vanquis Bank launches market-leading five-year fixed savings bond image
Source : Telegraph [Read Article] Friday 19th of June 2015 02:52:40 PM
.... . The Provident-owned bank, which also offers credit cards for people with poor credit history, also raised the rates on its bonds lasting one year (to 1. ...
Entrepreneurs are not always born, they need to be made too image
Source : Telegraph [Read Article] Sunday 7th of June 2015 06:50:39 PM
.... A key motivation for our round table was to see where this funding escalator requires attention. One area identified for progress is strengthening community development finance institutions (CDFIs) to support entrepreneurs with a poor credit history but who none the less want to start a business. ...
Rejected for credit: loyal customers turned down as 'too risky' image
Source : Guardian [Read Article] Saturday 6th of June 2015 06:00:13 AM
....In the meantime, the Jameses are left bemused at being penalised for apparently doing the right thing financially. “It’s frustrating – we now have to spend six months creating a credit history to demonstrate good financial behaviour, all because of good financial behaviour,” David says. ...
Need help budgeting? Now there’s a jam jar account image
Source : Guardian [Read Article] Saturday 16th of May 2015 06:00:18 AM
. A new bank account-style facility that is open to all – even those with a bad credit history or who have been made bankrupt – is set to launch next week. ...
Improve your credit ratings image
Source : Daily Express [Read Article] Sunday 10th of May 2015 10:48:00 AM
....You can request a copy of your report for a statutory fee of £2. Taylor says: “It is really important to check your report regularly to see what it says and how you can take the necessary steps to improve your credit history. ...
Britons take on debt at fastest pace since 2008 image
Source : Telegraph [Read Article] Friday 1st of May 2015 11:04:37 PM
.... . "Borrowers need to keep in mind that advertised APRs (annual percentage rates) are only offered to 51pc of successful applicants - so to be in for a chance to get the best deals, they would be wise to check their credit history is in good shape before applying. ...
Nationwide scraps £12 credit limit fee – despite EU hit for credit card profits image
.... • £4,500 stolen from two accounts: Halifax refunds, Nationwide refuses . • Five easy ways to wreck a perfect credit history . ...
Homeowners feeling the squeeze on mortgages image
Source : Daily Express [Read Article] Sunday 26th of April 2015 12:55:00 PM
....It forced banks and building societies to tighten their loans criteria to block people from taking on debt they could not afford to repay. However, lenders have applied the rules so strictly that mortgage applicants are rejected even if they have a spotless credit history. ...
Wonga posts hefty loss as regulators clamp down on payday lenders image
Source : Telegraph [Read Article] Tuesday 21st of April 2015 07:40:02 AM
.... “There are 13m people in the UK who may not have access to financial services,” she said. “Within these 13m there are lots of reasons why they are in that credit constrained situation – some of that’s from having a thin credit history, some of it’s from challenges in the past. ...
Death of cashback: which credit card perks will be kept? image
Source : Telegraph [Read Article] Thursday 16th of April 2015 06:30:28 AM
'Lloyds Bank said that at 75 I was too old for a credit card' image
Source : Telegraph [Read Article] Friday 10th of April 2015 09:54:12 AM
.... Other major high street lenders contacted by Telegraph Money said there was no specified upper age limit for credit cards. Instead, the banks said loan applications were assessed on affordability and credit history. ...
Desperate first-time buyers offered new 'match-making service' image
Source : Telegraph [Read Article] Wednesday 25th of March 2015 02:02:39 PM
....” . Ray Boulger, of brokerage John Charcol, said the first thing potential buyers should do is check each others' credit history. ...
Why do banks use credit history to trap borrowers? image
Source : Telegraph [Read Article] Friday 13th of February 2015 12:12:12 PM
.... . The black mark on his credit history was over a laptop that Mr Grace had bought under a hire-purchase agreement in the 1990s. ...
'Lloyds wrecked my credit history over £928 debt I didn't owe' image
Source : Telegraph [Read Article] Friday 13th of February 2015 12:10:25 PM
....” . Mr Tilley said banks used the threat of ruining a customer’s credit history as a “whipping stick” to force them into paying charges. ...
Five easy ways to wreck a perfect credit history image
Source : Telegraph [Read Article] Wednesday 11th of February 2015 10:03:01 AM
.... . Over the years, Telegraph Money has reported on credit history nightmares including cases of mistaken identity and missed payments that won't disappear. ...
Buy-to-let 'even more attractive' as mortgage rates hit record lows image
Source : Telegraph [Read Article] Tuesday 10th of February 2015 10:01:23 AM
.... . A 40pc deposit and good credit history could garner a landlord a market-leading five-year deal at 4. ...
Source : Independent [Read Article] Saturday 31st of January 2015 12:50:56 AM
.... It was notable that several of Unilever’s shortlisted entrepreneurs were doing clever things with mobile technology, including the winner, Daniel Yu of Reliefwatch, who helps health centres in emerging markets track their medical supplies inventory by phone. One of the buzz phrases I brought back from the World Economic Forum in Davos was “financial abandonment”, which relates not to banks that give up on consumers with a poor credit history, but to the dash by lenders to leave risky countries as they are forced to clean up their act. ...
A collapse in the cost of loans and mortgages will give the Tories a boost image
Source : Telegraph [Read Article] Monday 12th of January 2015 10:55:42 PM
.... Sure, one can’t just walk into a bank and borrow 110pc of the price of a property, as was possible in 2006-07; and only the deluded would regret those foolish days and the disastrous practices. But those who have the right deposit and credit history – and yes, that is far from everybody – can now borrow at rock-bottom rates. ...
CES 2015: Warning over data grabbed by smart gadgets image
Source : BBC [Read Article] Wednesday 7th of January 2015 12:26:21 AM
....The internet of things (IoT), which will populate homes, cars and bodies with devices that use sophisticated sensors to monitor people, could easily build up a "deeply personal and startlingly complete picture" of a person's lifestyle, said Ms Ramirez. The data picture would include details about an individuals credit history, health, religious preferences, family, friends and a host of other indicators, she said. ...
Source : Independent [Read Article] Tuesday 16th of December 2014 03:14:28 PM
....If that sounds a ridiculous notion, then bear in mind that there is an estimated two million people in Britain who don’t have bank accounts. Why? Maybe because they don’t have regular work or a good credit history, they’ve been turned down for mainstream banking. ...
Fee-free basic bank accounts agreed in Treasury deal image
Source : BBC [Read Article] Monday 15th of December 2014 12:01:32 AM
....A new fee-free template for basic UK bank accounts has been revealed by the Treasury after a deal with major banks. Basic accounts do not offer overdrafts or cheque books, and may be given to those with a chequered credit history. ...
'Letter box scam almost cost me £20,000' image
Source : Telegraph [Read Article] Saturday 25th of October 2014 07:03:52 AM
.... . After checking her credit history with rating agency Experian, Miss Stead, an IT consultant, saw that the fraudsters had applied for another loan, also for £10,000, this time with bank Santander. ...
Npower: complain on social media for instant results image
Source : Telegraph [Read Article] Monday 13th of October 2014 08:25:01 AM

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