www.iva.co.uk

Hi all.
Just wanted a bit of advice about ways to rebuild credit ratings?
IVA was completed in July 2012 thanks to Melanie and her fab team.
Since then, I've applied for no credit (haven't needed to), but would like to find ways of improving my credit rating for the future.
I think I heard on here before that a low credit-limit Vanquis Credit Card is a good option. Can anybody advise whether this is worth doing?
If I did go for it, and that's a big IF, I would only want a very low limit, and would pay off any balance each month, and so presume that there would be no interest to pay?
Haven't had credit for several years, and don't intend to get into a mess EVER again...but rebuilding my rating for days in the future would obviously be helpful.
That said, my credit rating on my Experian report appears to have recovered quite nicely in any case.
But could someone more expert than me advise whether a Vanquis card is a good option?
Thanks.

I'm not expert but, I have a Vanquis card which I pay off in full each month, I don't know if it helps or not but it certainly does no harm to see all tose green marks on your credit file. Have you checked your credit reports for defaults, has the IVA dropped off now?

Hi

Vanquis is a very good way up starting to rebuild your credit, they will only give you a low limit initially and their max after many years is only 3k. If you pay the balance each month the APR charged is irrelevant

I still use my card six years on for day to day spending, the customer service is spot on and you can access your account online

Regards

Thanks for the info.
I've applied for one, so hopefully they will accept.

It doesnt take long to get up to the 3k credit limit.

Horrendous rates but only if you maintain a balance.

Useful tool.

Paul