I'm turning 18 tommorrow - Tips before applying for credit?

eviekins

As you won't have a credit file yet, either use your savings, or, your disposable income for the majority of the payment, and pick up some overtime at work or sell some old bits and bobs on ebay to get yourself up to the £350. I know you don't want a lecture, but just because you're turning 18 soon doesn't give you an excuse to go out and start purchasing things on credit; it sounds like a disaster waiting to happen. It doesn't sound like it will take you long to save the money up, and saving up for something you want is a good life lesson as well as a great feeling knowing you've achieved your saving goal
Best of luck! x

DCFC79

Could be a good thread especially with coming to the end of the year, could be a contendor for thread of the year.

TrueUnitedFan

DCFC79 wrote: »

Well you need some credit history for starters, if you aren't on the electoral roll which according to you your not then how on earth do you expect the credit agencies to find you and give you credit. First part of the process is to get on the ER then apply for credit but where or how long you wait i dont know.

It might be a long/slow process, were you expecting it to be instantaneous to get credit ?

You save £200 a month so why not use some of that ?

Hmm, true, I just started this month but i don't really want to touch it tbh. I have plans next year and that money will come in handy.

So, what you saying, i stand NO chance of getting it? Due to me not being on the electrol roll?

BoGoF wrote: »

Is the 6 months credit interest free?.....not that I think your chances of getting credit is great.

Yea 6 months intrest free

tomjonesrules wrote: »

Get a second hand one from ebay. Even better, get a faulty second hand one and learn how to repair/ rebuild it - you get to learn a new skill and a bargain in the process!

I don't want a second hand laptop, and i don't have the time to learn or repair a laptop, :wall:

tell_it_how_it_is

Get an evening/weekend job? I find it scary how one of your main thoughts ahead of your 18th birthday is thinking of where you can borrow some money from!

Why don't/didn't you ask anyone who may get/have got you a present to instead give/have given you some money towards the laptop?

closed

what's wrong with what you are using now?

rdwarr

So have we reached the stage that, instead of being the age at which we can legally drink or vote or get married without parental consent, 18 is now the age when we can start getting ourselves into debt?
At school we did an O Level in something called "Social Economics" - it was essentially about money management. 35 years later the need for this to be taught is greater than ever but it's not happening.

DCFC79

TrueUnitedFan wrote: »

Hmm, true, I just started this month but i don't really want to touch it tbh. I have plans next year and that money will come in handy.

So, what you saying, i stand NO chance of getting it? Due to me not being on the electrol roll?

No i never said you have no chance, i said it might be a long process, if your not on the ER then no you wont get credit since the CA wont be able to find you since you have no credit history.

Get on the ER but as i said im not sure how long you need to wait before you apply for CC with low limits.

Personally i wouldnt do it, id use the savings, if you save 200 a month then it wont be much of a dent in "your plans".

Take a step back and think about what your considering.

paddyrg

Talk to your bank about a credit card with a £350 limit - if they see you've been saving responsibly and kept your account in good order, they're most likely to lend to you. Then buy the lappy on that - it is going to be the most likely to be accepted, and if you pay it off pronto (ie in a few months), probably cheapest way to go too. And it'll start you building a credit history.

danothy

TrueUnitedFan wrote: »

i really need a laptop

TrueUnitedFan wrote: »

I have seen a decent laptop for around 350 from currys

You need a decent laptop? Surely even a basic one would do if it's to satisfy a need?

TrueUnitedFan wrote: »

I'd rather

TrueUnitedFan wrote: »

i don't really want to

TrueUnitedFan wrote: »

I don't want

Now we get to the crux of the matter ...

HappyMJ

I see what you are trying to do. Get a laptop on 6 months interest free and pay it off in full at the end. Those deals are only for people with perfect credit and a history of credit. Although I did get one at 18 to buy a TV it's a 50/50 chance these days whether it will be approved or not. Try and see. As people here have been saying make sure it's paid off in full.