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Best way to start credit history
jack290292
Posts: 175 Forumite
in Credit cards
20 year old Son, in full time work, lives at home, has savings and Isa..what is the best way to start credit history. Tried for mobile phone contract and was turned down....assume for no credit history. Is he better off trying for CC with own bank or high APR one such as Vanquis?
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jack290292 wrote: »20 year old Son, in full time work, lives at home, has savings and Isa..what is the best way to start credit history. Tried for mobile phone contract and was turned down....assume for no credit history. Is he better off trying for CC with own bank or high APR one such as Vanquis?
At 20 he might struggle getting his own bank to trust him but I would go down this route first but if that fails then yes Vanquis.
Vanquis is a 0% credit card if you pay in full.0 -
Thanks. I thought if his bank could see he has a lot of saving's and an ISA with them and he has a regular salary going in they would consider him..is it just his age that would go against him? He is 21 in February.0
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