Use credit cards to rebuild your bad credit rating.

Get yourself a credit card and then spend a little bit on it each month, ensuring that any credit you have used is paid back in full at the end of each month. If you miss a payment it will most likely worsen your credit rating and also you will have the interest to pay back as well.

If you get rejected for a lower interest credit card then you may need to apply for a card with a higher interest rate as they are more likely to give you credit if they think they can make more money off you. However even though the bank is more likely to give you the credit at a higher rate, your credit score will still apply and if they still see you as too higher risk they will still reject you.

Credit Blacklists don’t exist

Banks and credit agencies check your credit rating with the three credit reference companies and then check it against the type of customers each bank is looking for. Each bank is generally looking for the same thing, which is a customer who is going to make them money and that has a good record of paying back debts to minimise the risk of giving you the credit.

Been Rejected for Credit, Check your Credit Rating

If you’re not sure about your credit rating, or if you have applied for credit and have been rejected, then you can check your credit score with the three credit reference agencies (Equifax Ltd, Callcredit Plc and Experian Ltd). Checking your credit rating with these companies will give you a clear view of why you weren’t accepted for credit and you should be able to see where you can improve your credit score. To gain access to your credit report you will need to provide proof of your identity to prevent others from viewing your credit report.