Barclays / No Credit History

oversea

Hi,

I am 23 and work offshore/overseas. I bank with Barclays international, my main current account is a euro account. I am paid ~4k euros a month. I also have a euro savings account with Barclays, which has 15k in it.

I have never had a credit card, or contract mobile phones, or anything credity.
Until very recently, I had no idea about credit records, and stuff like that, I thought credit cards were just one of those thing you apply for and get, a bit like a passport. Anyway, shows how naive I am!

I'm saving up for a deposit on a house, currently have 15k euros.
I normally use a visa debit card which comes with my account to buy things like books on Amazon, but read that you shouldn't use a debit card online as someone can empty your bank account.

I applied for a Barclaycard (being a happy Baclays customer it seemed like a good decision!). Went for the one with the Oyster card built in, as I thought it would be handy. Didn't even look at rates, or anything really.

I received a letter from them saying I have been declined. Shocked. Found MSE and started reading. Now shocked at how dumb I was!

I requested and have now received my credit records from Equifax and Experian, both are pretty much the same, name, address same for 6+ years, on the electrol role, no credit ever, 1 search from barclays. all information correct.

I am saving for a mortgage deposit, and now really think I need to build up my credit history...

I have just read up about this Barclaycard Initial, which sounds like what I should have applied for Initially ;-)


The question is, can I just apply for one now?
I ask because the letter from them sais I cannot re apply for 6 months. The call center said they didn't know and just told me to go to a branch.

If I do will it give me another "footprint"?
Should I not go with barclays and look at someone else like capital one or other?

Please help, I am now very concerned that I wont be able to get a mortgage in a year...

clarabella

If you go to someone like capital one they should give you a gredit card and if you put something small on it and pay the balance off in full each month then you will be able to build your credit report up as a good customer. Ive been told by my mortgage advisor that a person with no credit history is just as bad as someone who has a terrible credit history. If you look threw martins website there should be an article to help you choose which credit card to go for. Hope this has helped.
Claire

oversea

thanks. I like barclays though, so do you think I can just apply straight award for the barclaycard initial?

are capital1 good (do they screw their customers?), or is there a better card company to go with...

oversea

Hi,

Just for other peoples reference; I have been reading more on here, and there is an interesting post about appealing a decision. http://forums.moneysavingexpert.com/showthread.html?t=1364529

I have applied for a capital one card, and will be appealing the barclaycard decision, or at least see if they will give me an initial card. I'll let you know how it goes.

Thanks Claire and MSE !