How do you get a credit history

psstoverere

i do apologise i dont know where to post this...my son has been working full time for 6 months now...he is not in debt and has never had credit...how does he build a credit rating?...he got refused a credit card because he has no credit history...any advice would be appreciated

steve1980

Is this a serious question?

He needs things like a mobile phone contract, a credit card from a sub prime lender such as Vanquis, Aqua, Capital One or Barclays Initial.

Any thing he spends on the credit cards needs to be repaid once the statement has been received.

That's how he builds up a history.

whitewing

Have a look at the guide on the main site

http://www.moneysavingexpert.com/loans/credit-rating-credit-score

Plxply

I turned 18 recently, applied for a Capital One Classic and was declined but offered a Secured Card instead. After paying the deposit I've now happily had the card for a few months and the card has been paid off in full each month.

Paul_01

Thats exactly the way to do it, Pixply!

BugsyBrowne

How times have changed since I was 18/19 you didn't even have to build up a credit history, all you needed to have was a job and the big lenders chucking out cards willy nilly then were MBNA I believe I had a platinum card with a 4k limit.
Lenders have finally woke up.

Plxply

BugsyBrowne wrote: »

How times have changed since I was 18/19 you didn't even have to build up a credit history, all you needed to have was a job and the big lenders chucking out cards willy nilly then were MBNA I believe I had a platinum card with a 4k limit.
Lenders have finally woke up.

I have a £200 limit secured against my £30 deposit, although I'm quite surprised the deposit was low considering some people have to deposit £200.

I think lenders are also suspicious of fraud, as Capital One asked me for a photocopy of my drivers license and a bank statement. I assume this was because I applied a few weeks after I turned 18 and someone who knew me could potentially try to apply for a credit card when most 18 year olds won't look at their credit file. At the time I did have (an almost blank) credit file with some entries by my current accounts and I was also on the electoral roll.

psstoverere

Why would this not be a serious question Steve?
He dosnt want a mobile contract as he spends so little on his phone and i dindnt want him to keep applying for credit cards as this might go against him if he kept getting turned down.
Thank you to everybody else who replied