Would i be eligible for a credit card?

bobblebob

With no credit rating?

I have a current account which i use to pay for everything so would like a credit card. Ive never been in debt or gone into my overdraft, and the only loan i have had was a student loan which i paid back. I have a PAYG phone and no morgage. I do have some DD on my account but these are for services i pay for in advance like gym membership. I cant think of anything that would increase my credit rating.

I have a Halifax current account so dunno if that would help if i applied for the Halifax Clarity Credit Card?

molerat

You have little to no history of credit so many of the mainstream cards will not entertain you. Try Halifax as they know your account history.

unimaginative_user_name

Definitely try Halifax. Are you on the electoral roll? That also helps with credit ratings.

bobblebob

unimaginative_user_name wrote: »

Definitely try Halifax. Are you on the electoral roll? That also helps with credit ratings.

As far as i know im on it yea. Would it be easier to get a pay monthly phone with no credit rating? This then in turn would get me the credit score

unimaginative_user_name

bobblebob wrote: »

As far as i know im on it yea. Would it be easier to get a pay monthly phone with no credit rating? This then in turn would get me the credit score

Not sure. You might find it's a bit of a chicken and egg situation. It's difficult to get credit with no credit rating but it's difficult to get a credit rating with no credit.

There are some specialist credit cards for people trying to build their credit rating. I can't post an attachment as I've not been on the forum long enough but Martin has loads of info about different cards on the Cards/loans tab. The problem with the cards that are easier to get is that their interest rates tend to be higher. However if you just put a small amount of spending on them each month and pay the balance in full by the due date you won't pay interest and your rating will improve. Then you'll be able to apply for the 0% and cash back cards.

One thing to avoid is to keep on applying for credit cards if you have been turned down as applying for lots of credit in a short space of time has an adverse effect on your credit rating.

bobblebob

Thanks. Yea thats what i was worried about. I have a regular income into my account with halifax, so not sure if they take that into account.

But with no credit rating, i dont want the only thing to appear on there to be a credit card rejection. Would asking halifax before applying help? See if they would take into account my banking history with them before applying and finding out the hard way

unimaginative_user_name

bobblebob wrote: »

Thanks. Yea thats what i was worried about. I have a regular income into my account with halifax, so not sure if they take that into account.

But with no credit rating, i dont want the only thing to appear on there to be a credit card rejection. Would asking halifax before applying help? See if they would take into account my banking history with them before applying and finding out the hard way

I would pop into a branch and ask. If you have managed your current account well they might be more open especially if you were asking for a small credit limit. Presumably a verbal enquiry would not go on your credit rating in the way that an online application would. From your original post it sounds like you have been responsible with your money.

bobblebob

Yea i have always been responsible with money, but maybe too responsibleas far as a bank is concerned as i never have to pay overdraft charges, so they make little money off me

Mulder00

I only moved to the UK last year March and managed fine to build up a credit record without having one to start with.

* Made sure I was on the electoral roll
* Got a mobile contract once I knew my name was on the electoral roll
* Applied for a loan (special rate and really low interest) with my bank to help me prove I can pay back money
* Applied for a credit card, again with my own bank and had no issues (this was after I had the mobile contract, electoral roll and then the personal loan).

So I basically went from no credit record to getting credit within six months.

CLAPTON

just try you own bank first and see what they say
(if the application is rejected it only shows on the credit records as an application- the rejection or acceptance isn't shown)

don't waste your money getting mobile contracts you don't need.

bobblebob

I was thinking of going contract anyway in the near future, so this may push me to do it