My first credit card

pocketslint

I would like some general advice on applying for a credit card. I do not have one at present and have not had one for over 25 years. I have no debt and do not own my own home. I have a small modest income and really only want a credit card as it is a requirement for renting a car. I have a £300 overdraft that I do not use. Thanks in advance:j

You-kip

pocketslint wrote: »

I would like some general advice on applying for a credit card. I do not have one at present and have not had one for over 25 years. I have no debt and do not own my own home. I have a small modest income and really only want a credit card as it is a requirement for renting a car. I have a £300 overdraft that I do not use. Thanks in advance:j

Ask your bank mate I'm sure they'll sort you out one as they know your financial history.

pocketslint

Thanks You-kip, most of the advice appears to be for cardholders. Will the fact that I don't use my overdraft facility (Rainy day) be a problem? as it should be obvious (Maybe not) that I am not looking for credit. Even if I try my own bank should I still check my credit rating? Any idea what my initial credit limit would be, is there an automatic initial limit? Thanks again all.

pjread

If they gave you an overdraft, and you haven't abused it, and you have nothing "bad" in your background then your bank is your best bet. if you pop in to a branch the cashier will probably be able to see if you can get one and tell you the limit there and then (especially if it's Lloyds?)

Cycrow

pocketslint wrote: »

Thanks You-kip, most of the advice appears to be for cardholders. Will the fact that I don't use my overdraft facility (Rainy day) be a problem? as it should be obvious (Maybe not) that I am not looking for credit. Even if I try my own bank should I still check my credit rating? Any idea what my initial credit limit would be, is there an automatic initial limit? Thanks again all.

not using your overdraft is a sign that you are living within your means, your bank will look favourably on that.

the limit would be impossible to predict, it could be anything, £250-500 is common for people with little to no history. But as you have a good history with your bank, it could end up being more.

The bank may, or may not check your credit report, sometimes they might just do it based soley on your internal rating. It doesn't sound like you should have any problems thou

pocketslint

Thanks again all. It looks so obvious when you see it in print. I'll let you know the outcome.