Which type of card for no credit history

chelseablue

My partner would like to apply for a credit card but has no credit history. Never had a credit card, loan, mobile contract etc.

We have checked his credit report - his credit rating says good.

Would it be better to apply for a card designed for bad or no credit history so he's almost guaranteed acceptance?

Or as his credit rating is good apply for a standard card with low APR?

I thought Id ask as he doesnt want to make loads of applications.

Would a standard card with low APR refuse him as he has no history at all?

Thanks for your help

cifpower

You COULD try the HSBC card but you may be better trying the bank your current account is held with. Being on the electoral roll and having payslips etc helps enormously.

Cards designed for no credit history all have rather high APRs - in excess of 28% - such as Barclaycard Initial, CapOne and Aqua.

The best way to gain a credit history is to pay the balance off in full every month so you do not incur any of the exorbitant interest charges.

chelseablue

So would it be better to just apply for one of the high APR cards instead of trying for a low APR one?

Sorry, Im confused!

izoomzoom

Why do you want a cc?

To build up a credit history ?

Or do you need to make purchases, and then in which case, can you pay off the balance every month, or would you need to incur interest ?

chelseablue

izoomzoom wrote:

Why do you want a cc?

To build up a credit history ?

Or do you need to make purchases, and then in which case, can you pay off the balance every month, or would you need to incur interest ?

Yes, to build up a credit history.

He will pay off the balance in full each month.

izoomzoom

Then I would go with the safe option of applying for one with his bank (says I who doesn't have a cc, and has applied elsewhere).

Will let you know if I was successful.

chelseablue

izoomzoom wrote:

Then I would go with the safe option of applying for one with his bank (says I who doesn't have a cc, and has applied elsewhere).

Will let you know if I was successful.

Thanks for the tip!

He banks with Nationwide - not sure how strict they are??

Linda32

If your going to pay the balance of each month then the APR isn't applicable as you won't be paying any interest.

I've got an Egg Money card which gives you cashback during March each year which you earn throughout the previous year. I've no idea wether you would be excepted or not but you might as well try.

Failing that, your bank normally give you a credit card first.