DRO over 5 years ago...how long till I can change bank accounts?

A question about : DRO over 5 years ago...how long till I can change bank accounts?

I had to get a DRO in 2009 (August) and was told that for the 5 years following I'd not be able to get any credit and it would show on my credit score.

It's been over 5 years now. I've not tried to get credit, I have a PAYG mobile (I knew I'd get turned down if I tried to get a contract) and I've kept up with all my bills bar one occasion where a cheque bounced and so an outgoing payment was defaulted (old chequebook was the reason- nothing to do with me).

I wanted to change my bank account, initially I had wanted to take up the First Direct offer but I was declined. I thought it would be fine for me to change my bank account but the reason given was that my credit score wasn't good enough.

I am clueless now. How long is it that I am supposed to wait before I can change my bank account being that 5 years isn't enough.

Best answers:

• First Direct are very picky, even for people with supposed "good" credit scores.
  Check your credit files to make sure that all traces of the DRO and debts included in it are gone from your reports. 5 years after completion (6 years from start) they should be, but still needs checking as some creditors do not always have dates right and things can linger due to that.
  Even if everything is gone, you will most likely have a "thin file", where unfortunately lack of regular long term credit and payment back can count against you with many lenders and banks.
  You need to build things up slowly. e.g. standard account from normal high St bank, phone contact, sub-prime credit card that you only spend a small amount on each month and pay back IN FULL. etc.
• The DRO stays on your credit file for 6 years. After that it drops off so at the 6 year mark it should be easier for you?
  Someone else can hopefully offer better information
• Thanks- another year to go then! At least I know now to wait another year, had been tempted by a few offers for mobile phone contracts but had refused everything because I wanted to be sure it would go through so since finding out the bank account was refused I was confused as to weather or not to try for it ever at all, but I think I'll wait another year for it to pass and hope for better chances next year.
• It's better to apply for something like a mobile contract or a bad credit credit card (eg Vanquis) now, as that way you will have started building up some good marks on your credit file. That will make it easier to get a good bank account.
  Do check your file now and see what it says.
• If you get declined for a mobile contract, it may be worth getting a sim only contract(less fussy regarding credit score)then upgarding a few months later, which they are likely to be happier about as they can see your paying your bill
  Regards
  Martin