Taking out a second contract

[Anonymous]

Hi hope someone out there can help. On Thursday I applied for a contact in my name for my partner. I didn't really expect it to be accepted as I don't have a great credit rating but it was. I'm now wondering how long it will be before I can apply again as I would like to take one out for myself. I don't want to try on any other network.

[Anonymous]

I'll maybe look into the deposit option. I'm hoping that if I keep up the regular payments then they'll be able to offer me another. I'm also getting BT internet and having just got a a catalogue account so hoping by paying these on time my credit rating will start to improve.

[Anonymous]

It should do over time

[Anonymous]

Rachael that is a good move. Most of the bigger companies share payment information with the credit reference agencies and by making regular payments on time (direct debit always good) then yes your credit rating will improve over time as Damien1 quite rightly says.

[Anonymous]

I hope so Damien.

I admit a couple of years ago I was really careless and damaged my credit rating big time! So glad to hear that I'm making a good move as I really want to improve my credit rating for the future.

[Anonymous]

I had a shocking credit rating a few years ago but I am living proof that it does get better!  I've been able to change my bank account, change mobile providers and get a mainstream credit card - it will get better with some careful management!

Good luck!

[perksie]

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@Anonymous wrote:
I admit a couple of years ago I was really careless and damaged my credit rating big time! So glad to hear that I'm making a good move as I really want to improve my credit rating for the future.

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It's also possible to use a credit card to rebuild your credit rating used obviously with care:

http://www.moneysavingexpert.com/credit-cards/bad-credit-credit-cards

[Anonymous]

Tracey don't mean to seem nosey but did you have to pay off everything you owed before your credit rating improved?

Perksie I've tried a credit card but got rejected. Probably a good thing though as think I could get into a bit of a mess with that. Thanks for the link though going to have a look through that later seems very useful

[Anonymous]

I had some defaults and once they dropped off my credit rating improved dramatically.

[Anonymous]

There are some specific credit cards for people who need help to rebuild credit ratings. Barclaycard offer one for example. Interest rates are higher so remember to pay the bill in full before the due dates.

Over time it will help you rebuild your credit rating.

[Anonymous]

I had a Vanquis card. The APR was pretty high but I paid it off each month. The one month I couldn't (unexpected vet bill) the interest was so high it taught me a lesson!