Getting started

rwllr

As a 20yo student (living at home) the whole miles game is very attractive and something I'd very much like to get into, however I've never had a credit card before, just a couple of current and saving accounts that I've never overdrawn. Going into debt isn't a problem as I can pay it off each month (Ive read all the guides!) and I should be able to spent enough without too many issues to activate signup bonuses by using it for petrol, family grocery shops and the like.

Can I assume I'll get refused applications because I've never owned a card before and lack of an income (even though household income is pretty high)? If so, should I be building up credit scores in the same way people who've recently gone bankrupt need to so I can jump right in in the future?

JakeGreen

Having your own home with a mortgage (or owned outright) is better than living with parents.

Having held a full time job for more than 12 months is better than being a student with no or little income.

The high household income may help you, but your lack of credit history will hinder your applications.

Ask your bank for a credit card first. When I was an undergraduate at 20, HSBC gave me a card with a limit of £500, 6 months later they increased it to £1k, 6 months after that £1500 and now it's at £5.9k.

Failing that, apply for a 'bad credit' or credit builder card.

Then you can get on the miles game soon after that, maybe once you've held a full time job for 3 months.

Good luck!

fozmcfc

As above, own bank first and if not Barclaycard Initial, Aqua or Vanquis.

You have some credit history, because you have a bank account and a savings account.

212

I'd certainly go to your own bank if you account has been run well (no returned payments etc).

You say you're a student - at which level? and Full or Part time? You could potentially open a student account with your bank (see if you can 'convert'/'upgrade' rather than a fresh new account).

That should then help you obtain a student credit card. If you already have a student a/c then a student credit card with the same bank shouldn't be too hard.

I started with my banks own student account & credit card, plus Capital One. That was at 18 renting - so higher costs, although potentially evidence that I've (probably) paid the rent on time etc, which could have helped.