No Credit Card?

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My wife has never had a credit card, nor a mortgage. Does this mean that she will be at a disadvantage if she wants to get a mortgage, as she will have no credit history?

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  • Sublime_2
    Sublime_2 Posts: 15,741 Forumite
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    Wouldn't have thought so, but may be wrong, as long as she is on the electoral roll.
  • anna42hmr
    anna42hmr Posts: 2,845 Forumite
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    martin was just on gmtv and mentioned it can be hard if has no proven credit history, has she ever had catalogues or a contract mobile phone or a bank loan, as they can help, he was just recommending that for those with no credit history to check they are on the electoral role and also to apply for a credit card, spend £50 a month on it and pay it in full each and every month to build a credit history
    MFW#105 - 2015 Overpaid £8095 / 2016 Overpaid £6983.24 / 2017 Overpaid £3583.12 / 2018 Overpaid £2583.12 / 2019 Overpaid £2583.12 / 2020 Overpaid £2583.12/ 2021 overpaid £1506.82 /2022 Overpaid £2975.28 / 2023 Overpaid £2677.30 / 2024 Target: £1800, £750.09 overpaid as at April so YTD = £750.09 Total OP since mortgage started in 2015 = £34,142.27
  • Innocent_Guy
    Innocent_Guy Posts: 5,369 Forumite
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    She will be at a disadvantage as she has no way to prove she is a responsable borrower
    Bank Accounts - Barlcays Premier[/B] - £1000 o/d, HSBC - £200 o/d- First Direct - £500
    Credit Cards - Barclaycard £2000 - Silver Card £1300 - Flybe £7500 - HSBC £1000 - First Direct £2500 First Direct Gold £3000
    6 credit accounts closed in 2010!

    Official SOS Club number 001 - Dry until 01.07.10
  • Sublime_2
    Sublime_2 Posts: 15,741 Forumite
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    Yes you're right, but surely no credit history is better than bad credit history, and being on the electoral roll does count towards your credit rating. Also income should be taken into account.
  • anna42hmr
    anna42hmr Posts: 2,845 Forumite
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    Sublime wrote: »
    Yes you're right, but surely no credit history is better than bad credit history, and being on the electoral roll does count towards your credit rating. Also income should be taken into account.

    however with no proven credit history, the lender would have no idea if she will be a bad risk or a good risk? yes bad credit history is not good, however they would know the risk they are looking at, whereas with someone with no history, they would not necessarily know what risk this person is.
    MFW#105 - 2015 Overpaid £8095 / 2016 Overpaid £6983.24 / 2017 Overpaid £3583.12 / 2018 Overpaid £2583.12 / 2019 Overpaid £2583.12 / 2020 Overpaid £2583.12/ 2021 overpaid £1506.82 /2022 Overpaid £2975.28 / 2023 Overpaid £2677.30 / 2024 Target: £1800, £750.09 overpaid as at April so YTD = £750.09 Total OP since mortgage started in 2015 = £34,142.27
  • Innocent_Guy
    Innocent_Guy Posts: 5,369 Forumite
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    Sublime wrote: »
    Yes you're right, but surely no credit history is better than bad credit history, and being on the electoral roll does count towards your credit rating. Also income should be taken into account.
    When I was just 18 I applied for a mobile phone contract and got declined. My friend that was with me applied and got accepted. he had CCJ's and defaults, late and missed payments however the lender knew what they were getting with him. It is RIDICULOUS however that is the way of the credit lottery......
    Bank Accounts - Barlcays Premier[/B] - £1000 o/d, HSBC - £200 o/d- First Direct - £500
    Credit Cards - Barclaycard £2000 - Silver Card £1300 - Flybe £7500 - HSBC £1000 - First Direct £2500 First Direct Gold £3000
    6 credit accounts closed in 2010!

    Official SOS Club number 001 - Dry until 01.07.10
  • Kavanne
    Kavanne Posts: 5,093 Forumite
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    My bf had no credit history when we applied for a joint mortgage but I did so I think that helped. We did get accepted but we went through an independent advisor.
    Kavanne
    Nuns! Nuns! Reverse!

    'I do my job, do you do yours?'

  • anna42hmr
    anna42hmr Posts: 2,845 Forumite
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    OP - martin is doing a programme on itv this week (friday) at 8pm, between the 2 eps of corrie, and it is about credit secrets etc so you may want to watch that
    MFW#105 - 2015 Overpaid £8095 / 2016 Overpaid £6983.24 / 2017 Overpaid £3583.12 / 2018 Overpaid £2583.12 / 2019 Overpaid £2583.12 / 2020 Overpaid £2583.12/ 2021 overpaid £1506.82 /2022 Overpaid £2975.28 / 2023 Overpaid £2677.30 / 2024 Target: £1800, £750.09 overpaid as at April so YTD = £750.09 Total OP since mortgage started in 2015 = £34,142.27
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