First credit card - How to improve credit rating?

bsms1147

Anthorn wrote: »

The reason for existence of credit building is to get credit.

Yes, of course it is, and it is to get that credit, when it's needed, at the lowest rate possible.

If one doesn't want to get credit then credit building is a waste of time.

Most people will need credit at some point in their lives in the form of a mortgage. Note again for many that's a 'need', not a 'want'. I would say proving your responsibility with credit in some way, shape or form prior to this - and thus 'credit building' - is not a waste of time.

Anthorn

bsms1147 wrote: »

Yes, of course it is, and it is to get that credit, when it's needed, at the lowest rate possible.

Most people will need credit at some point in their lives in the form of a mortgage. Note again for many that's a 'need', not a 'want'. I would say proving your responsibility with credit in some way, shape or form prior to this - and thus 'credit building' - is not a waste of time.

I don't see the point you're trying to make. How is your post relevant to the discussion?

bsms1147

It's tangential from the point when you reminded us that you feel spending money on servicing credit was beneficial to your credit file.

The OP asked 'First credit card - How to improve credit rating?'. We're just reiterating that the best way to use a credit card and 'improve [your] credit rating' is to pay it off in time and in full. It's just taking time countering your posts.

I've just been approved by Capital One for my first credit card. I don't have any debt or anything, i just figured it would be a good idea to start building up my credit score for the future.

Following on from my point above, the OP is building their credit now so that when they actually need credit in the future they can get better rates.

Anthorn

bsms1147 wrote: »

It's tangential from the point when you reminded us that you feel spending money on servicing credit was beneficial to your credit file.

The OP asked 'First credit card - How to improve credit rating?'. We're just reiterating that the best way to use a credit card and 'improve [your] credit rating' is to pay it off in time and in full. It's just taking time countering your posts.


Following on from my point above, the OP is building their credit now so that when they actually need credit in the future they can get better rates.

Oh we passed that point when I won the debate. I suggest that you discuss it with the others posting in this thread. Bye bye

bayzat

Don't use your full credit limit if possible, this counts for negative points on your credit score

fermi

weeian75 wrote: »

Sorry to butt in on this thread but i'm new to this and can't find what i'm looking for.

Moved to a new thread.

Click --> https://forums.moneysavingexpert.com/discussion/4992638