I Have in the past had a poor credit History, everyones circumstances are different and even the most astute saver can come unstuck when the unexpected happens.
I found one of the best way's of re-establishing your credit rating was getting a basic bank account with lloyds TSB, theres no overdraft so you can usually get an account with the minimum of fuss. once you've ran the account sensibly for around 2-3 months you can apply in branch for an overdraft, but this can decline which will show another application on your credit file which will in turn put lenders off in the future.
The best way to get an overdraft with Lloyds TSB is to set up an online banking ID with them, from here you can actually give yourself an overdraft of up to £1000 with automatic acceptance!
once this is in place you can set up a new account online, the new account will have a Visa Debit card and cheque gaurentee card for £50 and cheque book, then you can remove the £1000 overdraft from your first account and put it on your new one!
Hey presto you have a great account with a high street bank with all the facilities available to you!
From here you can now easily set up a mobile phone contract on 3 mobile as they have one of the lowest requirements when it comes to credit scoring, alternatively you could try T-Mobile as I've heard there not to bad either.
A few months of cleared payments from you account to the phone company and you should be able to get a credit card.
If your credit history is still not too great why not try something like capital one or Vanquis, it's a higher than usual apr but it keeps ticking the boxes to improve that credit rating of yours.
after maybe 12 months so long as your not spending more than you earn your credit rating should be starting to look a little helthier and you may even want to look at switching your credit card over to somthing with a little more competative apr, one final tip, Lloyds TSB has an in house credit scoring system, if you transfer £500 to your old account (the first one you set up!) once a week then transfer it back 2 day's later it will give you an artificial turnover of £4000 per month between your 2 accounts and the evrdraft you can achieve from this is quite staggering, i would however remind you not to use the overdraft facility unless it is completely nessicary or you could end up back where you started, the purpose of the big overdraft is it shows lenders when your looking for a loan of mortgage that you can be trusted not to spend huge amounts of available cash!
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