Can I build credit with overdrafts and creditcards?

chummychap

Hi everyone,

I am a first year University student and I am trying to build up my credit to be able to someday get a mortgage.

I have £300 HSBC overdraft untouched and I am looking to apply for overdrafts on my Lloyd's student account. ( I refused to get one when opening the account)

Will using up my overdraft and repaying them improve my credit or should I leave them untouched?

Should I get a student credit card , catalogue or any other thing that can improve my credit rating?

I was refused a mobile phone contract so I want to start building up my credit from now

Please help and thank you .

david_hellier

Open a building society account and sart saving something. Anything. Get your student loan paid into it. Do not use credit cards during university. Forget credit.