First Credit Card?

thatlemming

Hi. I'm 21 and at uni at the moment, 2 years left to go. I've currently got a student account (which has an overdraft of 1500, but I've never used the overdraft, always been in credit) and quite a lot of savings from my gap year(s).

I recently got declined for a phone contract because apparently I basically have no credit rating, I've never really had any form of credit at all and seeing as I'll be looking to buy a house when I leave uni I'll need a mortgage etc.

So I was thinking, get a credit card, stick my petrol on it each month and then pay it all off in full every month, then at least I can have more chance of getting a mortgage.

Don't want to just apply, no idea what I should be applying for and with who, so if anyone could give any advice, it would be much appreciated . I am on the electoral role at my house and have been since I turned 18.

Also, would paying my car insurance monthly help or not? Its only a couple quid more as my insurance is weirdly cheap due to the area I live in and the type of car I have.

BugsyBrowne

Try your own bank always best to ask there first.

thatlemming

I have a basic cashcard account with halifax, savings accounts with nationwide and the post office, and student account with co-op, would it be best to go for co-op because they're the ones that have given me an overdraft? thank you.

BugsyBrowne

thatlemming wrote: »

I have a basic cashcard account with halifax, savings accounts with nationwide and the post office, and student account with co-op, would it be best to go for co-op because they're the ones that have given me an overdraft? thank you.

I would try coop and If they do say no then credit builder cards like vanquis & capital one would be best.

Maestro.

BugsyBrowne wrote: »

Try your own bank always best to ask there first.

Not necessarily! Some banks disregard your internal history, credit check you anyway and then tell you to f__k off when you don't pass the credit check. This happened to me despite already having a CC, a phone contract, and overdraft at the very bank that I was applying for a CC. Didn't even bat an eyelid when I mention previous history and accounts, and ran a credit check anyway. I'm not prime yet and neither is the OP, so their bank may well just turn around and say the same thing.

I'm always dubious of the "own bank" theory for first CC, loads of people say it but very people actually seem to manage it.

Dr_Cuckoo3

thatlemming wrote: »

and student account with co-op, would it be best to go for co-op because they're the ones that have given me an overdraft? thank you.

CO-OP will tell you if you have "pre-approvals" for credit cards , loans etc if you phone them

(pre-approvals can be declined due to affordability etc)

BugsyBrowne

Maestro. wrote: »

Not necessarily! Some banks disregard your internal history, credit check you anyway and then tell you to f__k off when you don't pass the credit check. This happened to me despite already having a CC, a phone contract, and overdraft at the very bank that I was applying for a CC. Didn't even bat an eyelid when I mention previous history and accounts, and ran a credit check anyway. I'm not prime yet and neither is the OP, so their bank may well just turn around and say the same thing.

I'm always dubious of the "own bank" theory for first CC, loads of people say it but very people actually seem to manage it.

You thought about moving banks then.

Maestro.

LOL, yes I have but there are just as many reasons to stay as there are to move... At the end of the day its a hole for me to store my money...

Stereo

BugsyBrowne wrote: »

You thought about moving banks then.

Length of time at current bank is part of your credit file if I'm not mistaken?

It's on a lot of credit card applications...