How to create a Credit History

Protus

Hi all,

I'd like to know how a credit history is created from the start? Very confused:eek:

I'm new to the country with no bank account, and have only recently registered myself onto the electoral roll, which I've been told will only be updated and reported to the C.A's after 1st Dec.

Now question is: 1. Should I wait to get onto the register before applying for a basic bank account, (or does that not matter i;e no credit checks.) Or perhaps get the creditbuilder for green ticks & then after my 4th month apply for a decent current account?

I'm presuming being on the electoral roll itself does not create a history but the basic bank account might? Or in my 3rd option, would it be the creditbuilder that creates this after my 1st green tick?

savingcaz

hi,

I don't think if you are applying for a 'basic' account with no over draft facility etc you would struggle. I'm not sure though, there are some banks that you can get an account with even if you have no credit history though as far as i am aware.

Hope someone with more knowlege comes along soon!

Toto

Cash plus prepaid card do a credit builder version which will help you start up a credit history. Have a look there but be aware that there are fees for using the card. The link is here