Is anybody giving credit??

Lizzie454b

I'm at a loss...
Here's my situation...
I plan on applying for a mortgage later this year and thought it would be a good idea to build up some credit.
I applied to my bank of 10 years for an overdraft, credit card and loan (not all at the same time)
I got refused for all of them.
I applied for a Tesco credit card ( I work for them). Also refused.
I applied to Harvey Norman for a couch and coffee table on credit. Also refused.
Is anybody giving credit??
I had a loan of €5000 about 8 years ago which was paid as per agreement. I also had a credit card around the same time, which was kept reasonable well until I decided I didn't need it anymore and closed the account.
I have no debt, regular income, and OK savings. I have occasionally missed a utility payment, but have always caught up.
Why can I not get credit?
And now after reading many, many posts, I'm worried that I've messed up my credit rating because I've applied for credit. It's so backwards and I'm at a loss. If Harvey Norman won't credit me a couch, how the hell am I meant to buy my home?
Any advise?

AlmightyCushion

For a start, credit history here isn't the same as it is in the US. You don't need to build up credit here to proof yourself for a mortgage. On the contrary having loans whilst applying for a mortgage will lower the amount you qualify for as your monthly loan payments mean you are less able to afford the mortgage.

If you're worried about your credit history, you can check your credit history report by applying to the ICB. It'll cost you a few quid to do that. I wouldn't necessarily worry about being refused by Harvey Norman. I used to work for a similar retailer to Harvey Norman and loads of people got refused for credit.

It's hard to give you much of an answer without knowing more details like your age, pay, how much you save per month and is the saving rate consistent. Obviously, you might not be too comfortable giving this type of information out on a forum like this but without more details all people will be able to offer will be mostly guesswork.

But above, don't apply for credit just to "build up credit" for a mortgage, it doesn't work like that here and there is no need. You're ability to get a mortgage and the amount you can get will be based on things like your pay and consistent monthly savings.

ssmith6287

Be careful with applying for a lot of finance deals, esp if they use the icb. It can be seen if you got credit and if you've been refused.

ted1

Apply to get your credit rating. There must be a red flag , how often do I have zero funds? Online betting? Regular income ?

Bubbaclaus

Looks like the several missed utility bills are throwing up red flags

Geuze

Lizzie454b wrote: »

I'm at a loss...
Here's my situation...
I plan on applying for a mortgage later this year and thought it would be a good idea to build up some credit.

Other loans are the worst thing you could have when applying for a mortgage.

What the lender wants to see is regular savings.

Stop applying for loans.

Start saving 600-1000 per month, every month, and prove it.

Geuze

Lizzie454b wrote: »

I'm at a loss...
Here's my situation...
I plan on applying for a mortgage later this year and thought it would be a good idea to build up some credit.
I applied to my bank of 10 years for an overdraft, credit card and loan (not all at the same time)
I got refused for all of them.
I applied for a Tesco credit card ( I work for them). Also refused.

When your own employer won't give you a loan, surely this tells you that you are a bad risk.............

Mrs OBumble

Geuze wrote: »

When your own employer won't give you a loan, surely this tells you that you are a bad risk.............

Indeed.

What's your occupation and rough salary?