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  • FIRST POST
    • MHOWARD
    • By MHOWARD 1st Jan 17, 4:54 AM
    • 57Posts
    • 69Thanks
    MHOWARD
    Credit card and rating?
    • #1
    • 1st Jan 17, 4:54 AM
    Credit card and rating? 1st Jan 17 at 4:54 AM
    Hi, I recently got my first ever credit card as never really wanted one before. I actually only got one to build my credit rating as was turned down for a mobile contract. I signed up for Equifax and it's not that I had bad credit I infact had no credit. Never wanted it or needed it really. I eventually got a contract with Vodafone and a credit card with capital one(£200 limit). I got a contract for my son for Christmas and a credit card as it just felt slightly ridiculous as I work and am in no debt but yet I could not get basic credit, especially as I know people who are in debt up to their eyeballs but can get credit. I have spent £196 of my available £200 as I thought the more I paid back the more trust it would generate, but reading on here I think that may have been a mistake? I will definitely always pay off in full but is that a bad idea to go close to the limit?.
    Another reason for wanting a credit card is I buy a lot of stuff online and wanted the extra protection.
    Any advice on building and keeping credit would be greatly appreciated. Thanks.

    Just to add, I now have about ten credit searches as needed that amount just to get basic credit. As I said I'm new at this.
Page 4
    • MHOWARD
    • By MHOWARD 18th Mar 17, 3:09 AM
    • 57 Posts
    • 69 Thanks
    MHOWARD
    Wow - don't spend too much then

    and make sure you pay off in full
    Originally posted by Dobbibill
    Me again mate, sorry to be a pest.
    I decided to get a sim only as the last month i have been topping up more than usual and whereas i never bothered with credit before i thought i may as well. Anyway i went through a credit check with virgin and it went through fine(thanks to you and others for that as four months ago it was a no when i tried to get a contract with them). Anyway since then i have seen a better deal and i could still cancel as within the fourteen days, would this be a bad idea in regards to my credit rating?
    Thanks again
    • Dobbibill
    • By Dobbibill 18th Mar 17, 7:39 AM
    • 2,171 Posts
    • 3,304 Thanks
    Dobbibill
    Before you cancel the existing deal, make sure you can get the better deal.

    If you can get it, then cancel the existing sim - it won't have started reporting to your file yet - the most that will appear this early will be a search which will have little impact now and even less in a few months.

    If you are declined for the other deal then continue with this for the time being and try again in the future.
    • MHOWARD
    • By MHOWARD 18th Mar 17, 12:37 PM
    • 57 Posts
    • 69 Thanks
    MHOWARD
    Before you cancel the existing deal, make sure you can get the better deal.

    If you can get it, then cancel the existing sim - it won't have started reporting to your file yet - the most that will appear this early will be a search which will have little impact now and even less in a few months.

    If you are declined for the other deal then continue with this for the time being and try again in the future.
    Originally posted by Dobbibill
    Thanks for the help again. Make sure when you go on holiday you have internet access, you never know when I might need advice
    • MHOWARD
    • By MHOWARD 18th May 17, 3:19 PM
    • 57 Posts
    • 69 Thanks
    MHOWARD
    Before you cancel the existing deal, make sure you can get the better deal.

    If you can get it, then cancel the existing sim - it won't have started reporting to your file yet - the most that will appear this early will be a search which will have little impact now and even less in a few months.

    If you are declined for the other deal then continue with this for the time being and try again in the future.
    Originally posted by Dobbibill
    Just wondered whether an Argos store card is a bad idea, i did apply for one and was offered £750 credit limit. Just wondered how they are looked on by other lenders?
    I'm actually wondering if I'm overdoing it with the​ credit now-
    I have aqua card, luma and capital one credit cards.
    One Vodafone phone contract and three sim only(Vodafone,tesco and ee).

    All are paid off in full every month, i just want to get to a place where I can get normal credit cards with a decent limit and normal interest rates if I needed a loan(but I doubt I will).
    Regardless I have come from not being able to get a phone contract to the above in under six months and i appreciate everyone's help with that. Just need to find the right balance now so i can get good rates etc.
    • zx81
    • By zx81 18th May 17, 4:06 PM
    • 12,456 Posts
    • 12,628 Thanks
    zx81
    Just wondered whether an Argos store card is a bad idea, i did apply for one and was offered £750 credit limit. Just wondered how they are looked on by other lenders?
    Originally posted by MHOWARD
    Exactly the same as any other card. ie they don't see the provider.
    • Dobbibill
    • By Dobbibill 18th May 17, 5:50 PM
    • 2,171 Posts
    • 3,304 Thanks
    Dobbibill
    It will all work out but your best friend is time - it's not going to make you a perfect customer overnight (if that even exists) but evidencing the way you manage credit every month will make you more appealing....but in time.

    You're doing good
    I'm a Board Guide on the Energy, Student Money Saving, UK Armed Forces and
    Local Money Saving - Wales boards. I'm a volunteer to help the boards run smoothly, and I can move and merge posts there.
    Board guides are not moderators and don't read every post. If you spot an abusive or illegal post then please report it to forumteam@moneysavingexpert.com. Any views are mine and not the official line of MoneySavingExpert.com.


    A person who never made a mistake, never tried anything new.
    • MHOWARD
    • By MHOWARD 25th May 17, 10:57 PM
    • 57 Posts
    • 69 Thanks
    MHOWARD
    It will all work out but your best friend is time - it's not going to make you a perfect customer overnight (if that even exists) but evidencing the way you manage credit every month will make you more appealing....but in time.

    You're doing good
    Originally posted by Dobbibill
    Hello again.

    I now have the Argos card and we spend a lot (well she spends a lot) in Argos. Now it's a new tumble dryer and possibly fridge freezer. These were planned anyway.
    Now if I were to buy these in Argos (depending on their price obviously), how would you recommend I do it. Argos card on buy it now pay in 6 months 0%, Argos card and pay it off straight away or debit card?
    Thanks again mate and anyone else who replies!
    • Superscrooge
    • By Superscrooge 26th May 17, 6:09 PM
    • 843 Posts
    • 584 Thanks
    Superscrooge
    If you do make use of the 6 months at 0% Make sure you pay it off before the end of the 6 months as Argos charge interest from the date of purchase rather than when the 0% offer expired.

    if you don't pay in full by the plan end date or keep your account up to date, you'll be charged interest on the daily balance from the date of purchase
    • Dobbibill
    • By Dobbibill 26th May 17, 6:29 PM
    • 2,171 Posts
    • 3,304 Thanks
    Dobbibill
    I don't think there's a difference - it's a planned purchase which you have the funds for anyway - as long as you don't exceed the interest free deal, costing you interest.
    I'm a Board Guide on the Energy, Student Money Saving, UK Armed Forces and
    Local Money Saving - Wales boards. I'm a volunteer to help the boards run smoothly, and I can move and merge posts there.
    Board guides are not moderators and don't read every post. If you spot an abusive or illegal post then please report it to forumteam@moneysavingexpert.com. Any views are mine and not the official line of MoneySavingExpert.com.


    A person who never made a mistake, never tried anything new.
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