Help with credit rating for mortgage

rustywallet

OK, thanks, I'll tell him to thing of it a tool :-)

I've done the £2 Experian thing - not sure what to look for though.
And we are going to do the CC today.

I am speaking to a Building Society rather than a bank today, as I found them friendlier and easier to talk too - call me old fashioned...

thebritishbloke

rustywallet wrote: »

OK, thanks, I'll tell him to thing of it a tool :-)

I've done the £2 Experian thing - not sure what to look for though.
And we are going to do the CC today.

I am speaking to a Building Society rather than a bank today, as I found them friendlier and easier to talk too - call me old fashioned...

Just look for anything that you don't expect to be there. Incorrect addresses, accounts you don't recognise, defaults etc.

Banks, building societies, credit unions, dedicated CC providers, whatever makes you most comfortable.

rustywallet

Hi British Bloke. When I said Building Society, I meant for the mortgage... I am hoping for a long term year fixed rate.

JimmyTheWig

rustywallet wrote: »

I went to the co-op bank, but it looks like there are charges:

Monthly payment 15.9% APR representative/variable
Without taking into account
any introductory rates, how
much interest will you be
charged in the first year?
If you paid the minimum
payment each month £142.43
If you paid £50 each month £116.59

Am I miss-reading this?

Yes, you are mis-reading.
If you pay the _minimum_ each month you pay interest.
If you pay _just_ £50 each month you pay interest.
But if you pay the balance in full each and every month, on time, then you pay no interest.

JimmyTheWig

thebritishbloke wrote: »

They're a brilliant tool if used responsibly, and won't cost you anymore than what you would normally spend. I don't understand why some people really dislike the idea, haha.

I think the bits in bold answer your own question...

rustywallet

Thanks Jimmy.

JimmyTheWig

thebritishbloke wrote: »

Every credit card on the market will not charge you any interest if you pay in full every month, it's pretty standard.

Pretty standard, I agree, but some cards will charge you. Some of the "best" cards (i.e. best for some people) have an annual fee. I think there is (or certainly was) a credit builder card that charged, too.
But any normal credit cards are completely free if paid off in full on time every month.

thebritishbloke

JimmyTheWig wrote: »

Pretty standard, I agree, but some cards will charge you. Some of the "best" cards (i.e. best for some people) have an annual fee. I think there is (or certainly was) a credit builder card that charged, too.
But any normal credit cards are completely free if paid off in full on time every month.

That's why I said they wouldn't charge any interest

jellie

rustywallet wrote: »

Yes, I was going to go with a CC from my own bank, my other half really doesn't want one (nor. do I) - I have told him it's for the greater good ;-)

Credit cards are also very useful when you use them to buy something which costs over £100, as you get section 75 protection.

As an example, if you bought new sofas for your home and the company ceased trading before delivery, your cc would have to refund any money you'd already paid for them.