3 ms·

I can't use the Co-op. They won't let me have an account because I apparently have a bad credit rating. (The real reason, I expect, is because I have no credit

I can't use the Co-op. They won't let me have an account because I apparently have a bad credit rating. (The real reason, I expect, is because I have no credit rating as I've never applied for a credit card or loan, or been late on a bill.) They're probably overdue a computer system overhaul as they've recently taken over several other banks and building societies, notably the Britannia where I had a few friends working. My pay now seems to have appeared, and my second account doesn't have £0.00 in it any more, so I've got my fingers crossed that I'll be able to go to Tesco tonight. I might go to the branch and get cash though, just in case I get the dreaded 'card declined'.

pja 14y ago
It's worth having a credit card just for the cushion it gives you in exactly these kind of circumstances tbh.
- jmaskell 14y ago
  It's also worth using a credit card for the added protection and other benefits (see http://www.moneysavingexpert.com/cards/credit-card-tips http://www.moneysavingexpert.com/cards/credit-card-tips). Just make sure you pay off the balance in full each month so you never get stung by interest.
- mjwalshe 14y ago
  Or have a second bank account with a different bank and dont have all your rainty day savings acounts with the same bank.
deleted 14y ago
[deleted]
adrianhoward 14y ago
I can't use the Co-op. They won't let me have an account because I apparently have a bad credit rating. (The real reason, I expect, is because I have no credit rating as I've never applied for a credit card or loan, or been late on a bill.) It's really worth double checking. Identity theft is not always obvious... The cost is minimal, and I've twice had debts associated with someone else who's shared an address with me (not at the same time) get attached to my name. In one of those cases it appears to have been a deliberate act by the debtor. Also when I was sorting these out I was told that the "no credit card == bad credit rating" thing is pretty much a myth in the UK at least. It can help make a credit rating better, but its absence doesn't make a credit rating bad.
weego 14y ago
Credit rating has never worked that way in the UK afaik. I have never had a credit card, or a loan or an overdraft (or a mortgage, or savings account). I have been late on bills and had warnings sent out yet have a perfect credit score (had to be checked recently for pre-mortgage application checks).

pja 14y ago

It's worth having a credit card just for the cushion it gives you in exactly these kind of circumstances tbh.

jmaskell 14y ago
It's also worth using a credit card for the added protection and other benefits (see http://www.moneysavingexpert.com/cards/credit-card-tips http://www.moneysavingexpert.com/cards/credit-card-tips). Just make sure you pay off the balance in full each month so you never get stung by interest.
mjwalshe 14y ago
Or have a second bank account with a different bank and dont have all your rainty day savings acounts with the same bank.

deleted 14y ago

[deleted]

adrianhoward 14y ago

I can't use the Co-op. They won't let me have an account because I apparently have a bad credit rating. (The real reason, I expect, is because I have no credit rating as I've never applied for a credit card or loan, or been late on a bill.) It's really worth double checking. Identity theft is not always obvious... The cost is minimal, and I've twice had debts associated with someone else who's shared an address with me (not at the same time) get attached to my name. In one of those cases it appears to have been a deliberate act by the debtor. Also when I was sorting these out I was told that the "no credit card == bad credit rating" thing is pretty much a myth in the UK at least. It can help make a credit rating better, but its absence doesn't make a credit rating bad.

weego 14y ago

Credit rating has never worked that way in the UK afaik. I have never had a credit card, or a loan or an overdraft (or a mortgage, or savings account). I have been late on bills and had warnings sent out yet have a perfect credit score (had to be checked recently for pre-mortgage application checks).