Never had a credit card and need to get one!

1979sam

Hi

Im 30 years old and have never had a credit card as I felt I never needed one but have been told I have been putting myself at risk by not getting one. Therefore I want to get one as I am looking to get my self a new car in the next few months.
Spoke to my sister in law and she said as I have never had one at all I may be rejected if I apply for the first time. I have previously paid for my car insurance and phone bill monthly and currently pay my phone insurance monthly so I am hoping I will be ok.
I have been with Barclays bank since I was 17 so I wanted to ask which credit card would be best and which is the best bank to go with? Also initially I am looking to borrow about 3-5k.

Thanks for your time

JakeGreen

You want to check your credit files first and make sure everything is in order with no negative things like late payments or missed payments on there.

If you've never had a credit card or loan or mortgage your file may be viewed as being weak because you have no real history of managing large debts.

Apply to Barclays first. Maybe for their 'Initial' Card.

I doubt that you'll get declined if there are no negative things on your credit file.

After 6 months of good reports to your credit file to may find you'll get accepted for mainstream cards. That means 6 green zeros on your credit file, it might take longer than 6 months for the six green zeros to appear on your credit file.

1979sam

Hi

Ok things I don't understand are:

% APR variable
Balance transfers
Purchase rate variable
% Interest

I know this maybe very basic information but I really don't understand these terms

1979sam

is barclays a good bank to get a credit card with?

alecsa

Do you have an overdraft facility on your bank account? If you do, and you managed it wisely, then I believe it's easier to get a CC. And do you have a job? Barclays gave me a CC after 8 months - newcomer to the UK - in the first 8 months I maintained a mobile contract and a small overdraft limit with Barclays.

1979sam

I have a overdraft limit of £200 yes I work full time alecsa which card did you apply for?

anoncol

You probably wont have a problem getting a credit card. Its a myth that not having one makes it impossible, that would be a paradox. I got my first one at 35. A santander 123 credit card gives cash back on supermarkets and fuel.

sharpy2010

For your first card I would imagine you are going to get a limit of somewhere between £200 and £500, but nowhere near £3000-£5000 I'm afraid.

alecsa

It was a Barclays card, but not Barclays Initial. The purchases APR was 17.9 I believe. Initial limit was £500. I closed that card down so I can't remember what type it was, but it wasn't Initial for sure. I now have their Simplicity card.

By the way, if you're planning on using a CC, you'd better learn about those terms - what APR, balance transfer etc. are - before actually using it

alecsa

PS. If you're a Barclays client, you can check in your banking account to see whether you're 'pre-approved' for any card or loan. There is a tab in there somewhere can't remember how it's called.

anoncol

sharpy2010 wrote: »

For your first card I would imagine you are going to get a limit of somewhere between £200 and £500, but nowhere near £3000-£5000 I'm afraid.

Well i'm afraid your wrong. I got £5500.