Credit Card to improve credit rating.

qprjack

Hi all,

I want to apply for a credit card to improve my credit rating. I'm 21, have savings of around £1400 and take home around £1450 a month, and don't have an overdraft. I want to use it and spend around £200 a month on, and pay it in full the next month, or the minimum each month, whichever is better.

Does anyone have any recommendations for a credit card for this?

Many Thanks,

Jack

book12

Try your bank, as you have a better chance, since they know your account conduct and spending patterns.

Credit cards to improve credit rating:

Barclaycard Initial
Aqua Card
Capital One Classic
Vanquis

keith_lard

Vanquis and capital one,
but would try capitalone first,
the website is very good and they are very helpful on the phone, credit limits start around £200
also they let you know in a minute with the online application.

If you choose Vanquis, dont forget the quidco cashback!


k.

DizzleUK

It sounds like you don't have much in the way of credit history. Out of the 4 main cards for those with little or adverse history, Barclaycard Initial has the lowest APR (29.9% apr).

Go to Barclaycard's website and use the preapplication checker and see what card they will offer you (if any) this will not leave a footprint on your credit file. If they offer you a better one than the Initial, then go for it (either Gold or Classic most likely on your income). If they only offer the Initial, that's a good place to start for your needs.

If they come up blank, then try Capital One Classic next (29.9-34.9% apr), followed by Aqua (35.9% apr), and Vanquis (typically 49.9 to 69.9% apr) as a last resort.

Outside of the main 4, you can try one of the Sygma cards. These are techincally mainstream cards with relatively good APRs, but the acceptance critera is more relaxed than most other mainstream cards.

Failing that, try your own bank.

Finally, beware of applying for too many cards in a short space of time if you happen to be rejected for the first one.

AnnaV

Also a mobile phone contract will help

Be careful with a credit card- I know I wasn't very good with one at the age of 21! Not saying you are like me, just watch out.

Rob_UK

qprjack wrote: »

Hi all,

I want to apply for a credit card to improve my credit rating. I'm 21, have savings of around £1400 and take home around £1450 a month, and don't have an overdraft. I want to use it and spend around £200 a month on, and pay it in full the next month, or the minimum each month, whichever is better.

Does anyone have any recommendations for a credit card for this?

Many Thanks,

Jack

I had poor credit history, even Capital One declined, but Vanquis accepted and even doubled my limit in 3 months time. No problem so far, been 8 months with them.
If your credit history isn`t very bad, try Capital One basic card. If you struggle to get mobile phone contract, get "SIM only" contract on 30 days contract(I did that). You are very likely to be accepted.
Also, apply for prepaid Mastercard`s and take out their credit improovement loan of £50. Eagle card, Freedom card and Mycashplus, all have this feature.

I`m now looking much better than year ago on my credit file

CLAPTON

qprjack wrote: »

Hi all,

I want to apply for a credit card to improve my credit rating. I'm 21, have savings of around £1400 and take home around £1450 a month, and don't have an overdraft. I want to use it and spend around £200 a month on, and pay it in full the next month, or the minimum each month, whichever is better.

Does anyone have any recommendations for a credit card for this?

Many Thanks,

Jack

try your own bank first


always pay in full each month.. preferrably by setting up a Direct debit so you never forget (which would damage your credit record)
always stay well away from the credit limit too


having a small overdraft facility is useful but never plan to use it.. just have it there is case you accidentally go into the red.