No credit history...

lily-bea

Evening all!

As the title says, I have no credit history. The only loan I have is a student loan, and the repayments come out of my weekly pay.

I have applied for a couple of credit cards last year, but I was turned down for all of them. (I unfortunately didn't realise at the time that applying for a few cards at a time affects your credit score! Hence now I want to ask someone before doing anything else!)

All I want to do is make small purchases and pay them off each month, to build up a credit history. I have money in a savings account and earn about £15,000 a year. I rent a house with my partner from my father, so no mortgage either. I've lived her for about 10 months and i'm 25 years old.

I've looked into the Aqua credit card and was thinking about applying for one.
But I really don't know if I should just leave it, just in case i'm turned down again, or go for it.

I'm new to the whole credit card/credit history thing and not sure what to do for the best.

Help! lol

Thank you all!!

Phil3822

If you want a credit card go for a capital one or vanquis. I have used both these companies and they served their purpose. You could also get a mobile phone contract which reports on your credit file. You are right though, dont apply for to many in a short space of time.

lily-bea

Thanks for your reply!

I've had a look at the Capital One credit card and it says not to apply if you have never had a credit card before...
I also do have a mobile phone contract with O2 for 4 years, now Tesco for a year.

Tixy

Are you on the electoral roll?

How long have you been with your own bank? Did you try them for a card last year? You could go in branch and see whether they think you might be approved for one. They might be able to give you an indication before they run a credit search.

Whilst its a bad idea to apply for lots of cards in a row a couple of applications won't hurt.
Which capital one card are you looking at?
Have you had a look at this
'Bad Credit' Credit Cards: Use them to rebuild credit rating

lily-bea

I am on the electoral roll where i am now, and the 3 years i lived with my mother before moving out.

I've been with Barclays for....15 years, i've never been with any other bank. I did apply for a credit card with them and was rejected.

I think it was the capital one classic i looked at, but it said not to apply if you have never had a credit card before.

mauriphonic

Aqua were pretty good with me coming to them after over 10 years overseas, and thus no history. I was accepted by them with only a few months history back in the country and a new smile current account. Their underwriting / application process is awful though. Took ages with docs getting lost internally after they'd confirmed receipt of them. I wasn't even yet on the Electoral Register when Aqua accepted. Vanquis then went on to say no after I got myself on the register. (probably too many applications I guess)

andyo

Tixy wrote: »

Are you on the electoral roll?

How long have you been with your own bank? Did you try them for a card last year? You could go in branch and see whether they think you might be approved for one. They might be able to give you an indication before they run a credit search.

Whilst its a bad idea to apply for lots of cards in a row a couple of applications won't hurt.
Which capital one card are you looking at?
Have you had a look at this
'Bad Credit' Credit Cards: Use them to rebuild credit rating

Tixy, my 19 year old daughter who is also a student, did as you suggested with Bank of Scotland. Despite being assured she would be successful in the branch, her application was subjected to a credit check and was rejected. Like the op, she was simply trying to build up her credit history and she (and we) are disappointed that the bank she has saved with for years has now apparently turned their back on her.

izools

In regards to Capital One Classic demanding credit history don't worry too much about this as many people who have never had credit before have been approved for the Cap One classic.

lily-bea

Thank you all so much for your replies!

After looking at reviews for the Aqua card on the internet, it looks like getting one is a nightmare, so i think i'll leave that one alone!

Has anyone had and experience with a granite card? I think they are for people with bad credit history.

KingElvis

lily-bea wrote: »

Thank you all so much for your replies!

After looking at reviews for the Aqua card on the internet, it looks like getting one is a nightmare, so i think i'll leave that one alone!

Has anyone had and experience with a granite card? I think they are for people with bad credit history.

Granite is Vanquis by any other name and as such available to all people including dead, alive and mutated.

I would seriously try the Barclaycard Pre Application checker or go for a Capital One Classic, the 20k pa wage is not that strict from what I've read.

DarnIt_3

I have a credit builder card with Cap One, no credit history and not on the electoral roll! They still gave me a £200 limit.

Worked for me