18, No Credit History - What To Get And When?

Jakg

Well I'm 18, with nothing but the electoral roll on my credit history. I applied for a phone contract and was accepted, and i'm now looking for a credit card (just to build up my credit history for when a 0% deal comes along etc). Don't care about limits or rates as I will pay it off in full. Cashback would be nice.

From reading the advice seems that my search will hamper me for at least a few months, and that my bank is the best place to go with - but I'm going to be changing banks soon to get a student account - should I do it sooner or later?

Basically - any suggestions? I'm a full time student (Uni this year) with a small part time job on the side.

TheEffect

CapitalOne Classic
Vanquis
Aqua Card

All three of those would likely give you a card. No mainstream company will touch you with a barge pole, so don't waste searches. Your own bank might offer you a card depending on how long you've been with them and how your account has been run, but neither Lloyds or HSBC offered me a card when I turned 18 and I had accounts with them since I was young.

hoyles10

Flybe seem decent enough, i've just been accepted by them. Plus you get a free return flight to European destinations after your first purchase.

dfh

TheEffect wrote: »

CapitalOne Classic
Vanquis
Aqua Card

All three of those would likely give you a card. No mainstream company will touch you with a barge pole, so don't waste searches. Your own bank might offer you a card depending on how long you've been with them and how your account has been run, but neither Lloyds or HSBC offered me a card when I turned 18 and I had accounts with them since I was young.

Capital One gave me my first credit card with a credit limit of 200 pounds ! I used it for a year,paid off in full each month.Then I applied for a halifax card.Got a limit of 1500 !

TheEffect

I'm 18 and have Aqua, Vanquis and CapitalOne, £250, £250, £100.

Vanquis was closed this month, Aqua will be closed next month and I'm keeping CapitalOne.

Hoping in another 6-12 months, I'll get a mainstream card. At the minute, I cannot get an overdraft from any of the two banks I am with.

TheEffects

Hi,

One way to build some credit history is to get like a catalogue account. Someone like JD williams.

Am not sure but I think there the easyest forum to get credit? usually £125. did anyone else get this limit?

hoyles10

I opened a JD Williams account and got an initial £200 limit and they soon upped it. I've now got a limit of £1700 which i'm never going to use I just ordered a couple of cheap bits and made the minimum payment for a few months. Think I got a couple of t-shirts and a shirt for £60. It's all cleared now but it seems to have improved my credit rating as well.

PNPSUKNET

did you close them after hoyles?

never-in-doubt

Jakg wrote: »

Well I'm 18, with nothing but the electoral roll on my credit history. .

Have a read here: http://forums.moneysavingexpert.com/showthread.html?t=1626277

hoyles10

PNPSUKNET wrote: »

did you close them after hoyles?

No I still have the JD Williams account but if I buy anything from it now I tend to pay it off pretty much straight away.

It was handy a couple of months ago, I booked a last minute all inclusive holiday then realised that I had lost 5 stone and none of my old holiday clothes fit me and I didn't get paid until I was halfway through my holiday so I ordered some stuff from them but paid it off again as soon as I got my statement.

I know the prices are higher than the highstreet but it was very handy in that situation.

Jakg

TheEffects wrote: »

Hi,

One way to build some credit history is to get like a catalogue account. Someone like JD williams.

Am not sure but I think there the easyest forum to get credit? usually £125. did anyone else get this limit?

I dont want to buy stuff I don't need - I just want to buy stuff I need and get kudos from the credit card companies for paying it...