First Credit Card

jas8_2

Hi guys, long time admirer first time getting involved!

Ok so I am 23 and have been working full time for 1 year after uni, earning just under 20k looking to get a credit card now to move my day to day spending onto and spread out repayments.

So I applied at Tesco (I am a n00b lol) and got rejected, now I am scared to apply elsewhere. I did a check at Experian and they rate me as good, and on moneysupermarket they gave me 7/10 chance with barclaycard premium or mbna retail rewards. I feel my problem is that I have no history with a credit card (despite mobile phone contract for 4 years).

Also I have a big purchase planned and wanted to spread it over a long period like 12 months aswell so that would be nice too.

To complicate matters I do have a credit card I got through a friend from Nationwide thats a poor 3 months 0% that I am looking to close if I need to/ have to/it is a good idea to.

Sorry alot of info, just want some advice for a first time credit card applier with no real history....

Thanks in advance for any help, please be kind I am new to this!

J

Hax

jas8 wrote: »

To complicate matters I do have a credit card I got through a friend

What do you mean by this? It sounds somewhat questionable...

With a limited credit history, you'll be very lucky indeed to get a prime card with long 0% offer. For a first credit card, you'd probably be looking at a "starter" card such as BarclayCard Initial/CapitalOne/Vanquis/Aqua

Another important thing to check is that you are on the electoral register for your current address.

jas8_2

Hax wrote: »

What do you mean by this? It sounds somewhat questionable...

With a limited credit history, you'll be very lucky indeed to get a prime card with long 0% offer. For a first credit card, you'd probably be looking at a "starter" card such as BarclayCard Initial/CapitalOne/Vanquis/Aqua

Another important thing to check is that you are on the electoral register for your current address.

Haha no my friend works for nationwide in sales and needed some sales so I signed up (not knowing what 0% etc was) being a long term nationwide customer there was no issues but their cards are poor...

thanks for your help i will look into these cards

YorkshireBoy

Hax wrote: »

For a first credit card, you'd probably be looking at a "starter" card such as BarclayCard Initial/CapitalOne/Vanquis/Aqua

Before going that route I'd be asking the bank that had been receiving my £20K salary for a year.

If the Nationwide card was obtained at a different address than you currently reside at then definitely confirm with the CRAs that you're on the Electoral Roll before wasting an application.

Hax

YorkshireBoy wrote: »

Before going that route I'd be asking the bank that had been receiving my £20K salary for a year.

If the Nationwide card was obtained at a different address than you currently reside at then definitely confirm with the CRAs that you're on the Electoral Roll before wasting an application.

Whoops - good point, well made. Follow YorkshireBoy's advice!

Dave101t

my bank gave me a credit card when i was at uni, only 1800 quid limit, thereafter tho, i got capital one at 6k and amex at 3.5k all on the back of the positive history with my own bank. definately the best route.
(dont touch supermarket money!)