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Builiding up credit history.

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Apologies if this is a repeat thread - I couldn't find anything under a search.
I recently applied for the Morgan Stanley card as I liked the idea of cashback and its the one recommended.
I was refused, so I sent off for my credit reports and they are good. :confused:
I ve never had a credit card before, so I'm guessng thats why I was turned down. They have no idea how I would manage credit card debt and apart from my mortgage i m really lucky to have no loans, overdrafts or any other debt ( touch wood!).
So my question is this - in order for me to start building up a credit history, should I apply for a credit card from my bank? I swapped a month ago to Lloyds TSb and they ve been great so far. I m just worried about applying again and being turned down as I know that too many refusals are frowned upon.Someone at work said that the Tesco credit card was good and hardly turned anyone down?
I m not planning on making any big purchases,(at least for the moment) but just want to have a back up in case of emergencies and protection for online purchases. I will pay it off in full each month.
If you apply for a credit card from your bank are they more likely to approve? I know generally bank credit cards aren't great so I really only want it for 6 months before I can then either reapply for MS or maybe Egg what ever suits.
Any advice would be much appreciated and a thanks will be given. :T

Thanks
Life should NOT be a journey to the grave with the intention of arriving safely
in an attractive and well preserved body, but rather to skid in sideways -
Chardonnay in one hand - chocolate in the other - body thoroughly used up,
totally worn out and screaming "WOO HOO, What a Ride!

Comments

  • The_Boss
    The_Boss Posts: 5,856 Forumite
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    Frank1in wrote:
    and apart from my mortgage i m really lucky to have no loans, overdrafts or any other debt ( touch wood!).

    Thanks

    But not lucky enough to get accepted for a decent credit card because of the lack of history.
  • jay78
    jay78 Posts: 376 Forumite
    You have a mortgage, yet you can't get a credit card?
  • The_Boss
    The_Boss Posts: 5,856 Forumite
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    jay78 wrote:
    You have a mortgage, yet you can't get a credit card?

    If the mortgage started more than 8 years ago, chances are it wont appear on the CRA files.
  • Frank1in
    Frank1in Posts: 55 Forumite
    The_Boss wrote:
    If the mortgage started more than 8 years ago, chances are it wont appear on the CRA files.

    I started my mortgage 3 years ago and swapped it last year for a better deal when the fixed rate was up, I had no problems switching.
    The_Boss wrote:
    But not lucky enough to get accepted for a decent credit card because of the lack of history.
    I do consider myself lucky to not have any debts, but if I had realised this would negatively affect my credit history I would have got a credit card when my bank offered me one when I was 18 and tried to spend sensibly on it. Saying that though, I probably would have gone wild on it and be in loads of debt now, and THAT would affect my credit hisory.

    You can't win!!:eek:
    Life should NOT be a journey to the grave with the intention of arriving safely
    in an attractive and well preserved body, but rather to skid in sideways -
    Chardonnay in one hand - chocolate in the other - body thoroughly used up,
    totally worn out and screaming "WOO HOO, What a Ride!
  • The_Boss
    The_Boss Posts: 5,856 Forumite
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    Apply for a card from your bank then. They are more likely to accept you. Then set up a direct debit to take the full debt.

    Which bank is it by the way?
  • Frank1in
    Frank1in Posts: 55 Forumite
    The_Boss wrote:
    Apply for a card from your bank then. They are more likely to accept you. Then set up a direct debit to take the full debt.

    Which bank is it by the way?


    Lloyds TSB, they ve been fab so far much better than HSBC who i can't belive i stayed with for so many years!!

    I can't press my Thanks button so instead


    THANKS
    :T
    Life should NOT be a journey to the grave with the intention of arriving safely
    in an attractive and well preserved body, but rather to skid in sideways -
    Chardonnay in one hand - chocolate in the other - body thoroughly used up,
    totally worn out and screaming "WOO HOO, What a Ride!
  • The_Boss
    The_Boss Posts: 5,856 Forumite
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    Thats ok then. People with Abbey National or Alliance and Leicester accounts arent so lucky as those credit cards are run by MBNA.

    IMO this board is better off without the thanks button, but thats just my opinion. Seems crazy that people with one or two hundred posts can also have a few hundred thanks just because on other forums they recommended a place to save a fiver off of a hairdryer.
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