Applying for capital one to build a credit rating (18 year old)

KingElvis

You're awfully young to be worrying about tat like credit history and mortgages.

dealer_wins

I would have thought that mortgage companies would value someone who managed to get to his 20s or even 30s without needed credit, much more than someone who started borrowing the day he turned 18!!

LovelyLeeds

TrueUnitedFan wrote: »

My Nan has told me she would give me 12k gift don't have to pay it back when i decide to go for it.

If you collect enough UCAS points to get into University you can study for a 3 year undergraduate degree, then you will need to take a PGCE (post graduate certificate in education) if you wish to teach, so that's four years - four years of student debt - most universities are charging between £8K/£9K tuition fees per year - so you will be in a minimum of £32K in debt at age 23/24.
Your numerous threads are all saying the same thing, and you are more or less getting the same answers/advice.
You're also assuming that your nan will give you £12K - what for and are you sure this will actually happen?
Far too many assumptions, and as you are already finding out, you assumed you'd get credit and you haven't.
My best advice to you is to quit with assuming, and resume being 18 and enjoy yourself.

drjones

"You're 18 so you must be an idiot and you want a credit card so you must want to spend money you don't have!!!!"

B!!!!!!s.

OP when I was your age I did the same thing as you and applied for a credit card along with my student bank account. By planning ahead and acting sensibly are the two most important things for your future, and building a good credit record now is a good way to go. You'll also start to learn the responsibility that comes with the card and get used to managing money. Enjoying being 18 and good financial planning are not mutually exclusive as a lot of people are suggesting here.

I've done almost all my spending on credit cards since age 18 and now I live in a shoe under a bridge... No, wait, no I don't, I'm 25 now and have the mortgage I've been planning for for 4 years, savings including a S&S ISA and investments in Zopa and Funding Circle, a pension, no debts expect for a student loan and more disposable income than I've ever had previously.

It literally amazes me that the advice you've been given in every thread you've posted so far can be boiled down in to "stop planning ahead", based either on the fact you're 18, or that the person giving the advice screwed up with debt themselves. On your behalf, and also particularly on behalf of my 18 year old self, I'm actually slightly offended about the assumptions people are making about 'us'!

LovelyLeeds

drjones wrote: »

"You're 18 so you must be an idiot and you want a credit card so you must want to spend money you don't have!!!!"

Where did the above quote appear in anyone's posts? I can't see it anywhere.

There's no need for you to be offended by posters' assumptions, we're merely trying to offer advice and experience - just like you.

Wutang_2

drjones wrote: »

"You're 18 so you must be an idiot and you want a credit card so you must want to spend money you don't have!!!!"

B!!!!!!s.

OP when I was your age I did the same thing as you and applied for a credit card along with my student bank account. By planning ahead and acting sensibly are the two most important things for your future, and building a good credit record now is a good way to go. You'll also start to learn the responsibility that comes with the card and get used to managing money. Enjoying being 18 and good financial planning are not mutually exclusive as a lot of people are suggesting here.

I've done almost all my spending on credit cards since age 18 and now I live in a shoe under a bridge... No, wait, no I don't, I'm 25 now and have the mortgage I've been planning for for 4 years, savings including a S&S ISA and investments in Zopa and Funding Circle, a pension, no debts expect for a student loan and more disposable income than I've ever had previously.

It literally amazes me that the advice you've been given in every thread you've posted so far can be boiled down in to "stop planning ahead", based either on the fact you're 18, or that the person giving the advice screwed up with debt themselves. On your behalf, and also particularly on behalf of my 18 year old self, I'm actually slightly offended about the assumptions people are making about 'us'!

Have you had a girlfriend yet?

Jeff_Bridges_hair

drjones wrote: »

"You're 18 so you must be an idiot and you want a credit card so you must want to spend money you don't have!!!!"

B!!!!!!s.

OP when I was your age I did the same thing as you and applied for a credit card along with my student bank account. By planning ahead and acting sensibly are the two most important things for your future, and building a good credit record now is a good way to go. You'll also start to learn the responsibility that comes with the card and get used to managing money. Enjoying being 18 and good financial planning are not mutually exclusive as a lot of people are suggesting here.

I've done almost all my spending on credit cards since age 18 and now I live in a shoe under a bridge... No, wait, no I don't, I'm 25 now and have the mortgage I've been planning for for 4 years, savings including a S&S ISA and investments in Zopa and Funding Circle, a pension, no debts expect for a student loan and more disposable income than I've ever had previously.

It literally amazes me that the advice you've been given in every thread you've posted so far can be boiled down in to "stop planning ahead", based either on the fact you're 18, or that the person giving the advice screwed up with debt themselves. On your behalf, and also particularly on behalf of my 18 year old self, I'm actually slightly offended about the assumptions people are making about 'us'!

No one is making any assumptions. What are doing is giving our advice to the OP in as much as you are giving your own advice.. No wait , you're showing that you were sensible and have achieved what you have done through good financial management of your money.

Which is pretty much what we have offered him also. But there is still no need to plunge headlong into things like this when you are 18 you can build your credit report sensibly by starting off with small things first and working your credit report in a sensible fashion.

drjones

LovelyLeeds wrote: »

Where did the above quote appear in anyone's posts? I can't see it anywhere.

There's no need for you to be offended by posters' assumptions, we're merely trying to offer advice and experience - just like you.

I was paraphrasing the deluge of "advice" that the OP been given so far in the threads he has posted over the last couple of days.

Let's sum up what we actually know about the OP.

1) He's 18
2) He wants to buy a laptop
3) He wants to build his credit history
4) He has career plans for the future
5) He is posting on this forum asking for advice

Most of the advice and warnings about his impending financial suicide have stemmed from the fact he's 18 while totally ignoring the final 3 points. It's based on the assumption that he 18 and wants credit so will end up in debt, just like everyone else. My opinion of him is based on his conduct and what he's said in his threads, not ageism. He came here for practical advice not to be preached to.

laidbackgjr

I think quite a few of the warnings are based on the fact the OP has already been refused credit for a mobile phone contract (see other thread) and I would think it's easier to get credit for a mobile phone contract than it is for a credit card. If refused for a mobile phone contract it tends to suggest some other issues that need resolving and applying for a credit card will not help.

DCFC79

Is this the new "thing" to do when you turn 18, i wasnt interested in getting credit when i turned 18. My credit history was just built up over time, started off with my first current account with the bank when i got my first job and made sure i stayed in credit each month, started off saving each month and saved enough for my first car. Think i got my first contract phone before my car but whilst it was going on i was focusing on working, college and just having fun. Whilst in my third job i applied for my first credit card which i paid off in full every month.