Travel credit card to build credit rating

Gulpiyuri

Hi there,

I’m an EU citizen, living in the UK for 5 years. When arriving I opened an account with Lloyds and they said then I couldn’t apply for a credit card in the first 3-4 years. The last year they have been contacting me constantly offering me a credit card and now that I need to build a credit rating I finally applied for the AirMiles Duo.

In any case, I need another card to have a better credit score. Since I got to travel to the EU a lot, I´m thinking of those with 0% fee on foreign transactions, being Santander Zero, Nationwide Gold and the Post Office my 3 candidates.

Giving my situation (no credit rating), which one would you go for? Do you think I would get my application approved for any of those 3? I wouldn’t like to hit my credit rating with a refused application. Thank you for the advice!

Gulpiyuri

Hello,

Please can anyone advice on this?

Thanks

CannyJock

A refused application itself won't have a major adverse affect - other lenders only see the application search, not the result of it.

It'd be easier in say 6 months time when you've been able to demonstrate a history of credit with no missed payments, but if you need one now, then I'd be tempted to apply for one.

Nationwide I've never had much luck with, but Santander are doing a bit of promoting at the moment so might be a good time to try them. Report back your result so we can see who's getting successes.

Gulpiyuri

Thank you CannyJock,

The reason of my application is my intention of asking for a mortgage in few months time, thereafter I´ve been recommended to ask not for one CC but for two instead.

Good to see that other lenders won´t see the result of my application, I just hope that too "many" applications won´t hurt my mortgage chances, hence I´d like to apply for the CC with more chances to be approved, providing is one of the aforementioned 3 with 0% fee on foreign purchases.

If anyone else has any further input on this, that would be appreciated.

CLAPTON

I'ld wait until the application for the Duo card is determined before applying for any more
If you get the duo then apply for one other
if its turned down you might be better applying for a 'beginners' cards , barclaycard initial, Vanquis etc... awful APRs but as you will pay in full each month it won't matter.

Gulpiyuri

CLAPTON wrote: »

I'ld wait until the application for the Duo card is determined before applying for any more
If you get the duo then apply for one other
if its turned down you might be better applying for a 'beginners' cards , barclaycard initial, Vanquis etc... awful APRs but as you will pay in full each month it won't matter.

Thank you Clapton,

The Duo is already approved; since I´m a Lloyds customer they have been offering it to me for the last months, and now that I realize I have to build my credit report, I finally applied for it.

However, Lloyds already "knew" about my customer behaviour but I guess Santander/Nationwide/Post Office may rely on my credit rating and since that is "empty" (but have a good record in electoral roll and permanence in both addresses and jobs), I wonder how willing are those 3 entities to issue the card.

CLAPTON

Unless you are in a specific hurry, use the Lloyds card every month, pay in full for a few months before applying again.

Gulpiyuri

Thank you Clapton