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Scottish Trust Deed Forum
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Topic starter
27/11/2014 1:54 pm
Hi,
Just finished my last payment with my TD last month and paid a final figure to be released from the Trustee Interest in the property.
To allow me to get a credit file that looks normal again (Obviously keeping on the side of sensible with it) at what stage should i apply for one of the high APR credit cards from AQUA or similar, Primarily to build up my credit score again. I obviously intend to use it and pay it off by Direct Debit the same month, but the goal being to build my credit score.
One other question, do i receive a list of what my creditors were paid as a settlement figure from the trust deed final accounts?
27/11/2014 3:19 pm
Hi Rickie1,
I don't think there is a set time re applying for any of the sub prime cards. I (along with others on here) got accepted for Vanquis whilst I was still in my TD. I have been knocked back for every other subprime card since.
There are sites that will do a "soft" search for you to tell your chances of acceptance. This doesn't show as a full search on your credit file. Credit searches can drag your score down if you do a number of them in a short space of time.
I would start by getting your credit file and check which of the debts are showing as default. If you write to them with a copy of your discharge form, they will need to amend your credit file to show as satisfied and the default date to be no later than the date your TD became protected. The defaults will all drop off your file six years from that date.
As for getting the statement of what was paid to creditors, I'm sure you could get this if you asked but it should make no difference to you rebuilding your credit rating.
Best of luck and let us know how you get on.
27/11/2014 3:49 pm
Hello Rickie1.
Really good advice there from CIF.
Remember as well that there's no great certainty about what to do.
One future lender might see good use of a high cost credit card as a positive sign. Another future lender might just be put off by the fact that you possess and use a high interest credit card.
It's what individual lenders think that counts, not what a credit reference agency estimates your "score" to be.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
Topic starter
27/11/2014 4:16 pm
Many thanks to both comments.
Both make sense and much appreciated.
Thx.
27/11/2014 9:53 pm
The type of company won't be seen by any initial computer scoring so that should be passable if you have a high rate card.
The lender of card can't been seen at the bureau, only that it's a credit card or store card etc. ( You can see the name of the company on your report, the lender you are applying to can't see it.)
Of course you've probably said the name on your application so it can be seen there.
I suppose any underwriter can look at what they want, but I don't think they'd look into interest rates as long as the card was being used correctly.
28/11/2014 11:01 pm
Until the TD drops off record there is little improvement shown by getting a sub prime credit card.
Paul
Trust deed completed Jan 2012,Trustee discharge Nov 2012.
A new dawn.
