No fee credit card to help raise my credit rating

John_Diver

Hey,

I have never had a credit card but I am looking to get one that can help increase my credit rating.

I have never checked my credit rating until today, it is 568 - I am 27 and have never got anything on credit, so I would like to get something to increase my rating as I will need it in the future.

I am able to pay bills as soon as I get them so this is really just for the credit rating, I don't need money at all.

Hopefully someone can help.

Thanks very much

[Deleted User]

Try your own bank or one of the sub prime cards. Uee it regularly and pay off in full each month.

But ignore the credit score.

Nasqueron

Read this guide first (MSE bad credit card guide)

http://www.moneysavingexpert.com/credit-cards/bad-credit-credit-cards?_ga=1.33714018.2121640544.1378984872

Then fill in the details on the MSE eligibility checker:

https://creditcards.moneysavingexpert.com/?bad-credit

Apply for the one you get most chance to be accepted on (though read each card Ts & Cs carefully just in case the MSE tool mucks up)

Aquamania

John_Diver wrote: »

Hey,

I have never had a credit card but I am looking to get one that can help increase my credit rating.

I have never checked my credit rating until today, it is 568 - I am 27 and have never got anything on credit, so I would like to get something to increase my rating as I will need it in the future.

I am able to pay bills as soon as I get them so this is really just for the credit rating, I don't need money at all.

Hopefully someone can help.

Thanks very much

You probably have

A telephone or other utility account? How about your BB account?

Have a look at your credit files and you will be amazed at what you have on credit that you didn't think you had. Even a bank account may help (even if you have never used the OD facility)

Edit:
Actually you appear to have had a talk talk credit agreement that fell into default and had debt collectors involved :eek:
https://forums.moneysavingexpert.com/discussion/1705775

Yes, try your own bank or look at sub-prime lenders

John_Diver

Actually you appear to have had a talk talk credit agreement that fell into default and had debt collectors involved

Wow, I forgot about that!

They agreed that they were at fault and I didn't have to pay anything for it, is that still affecting my credit rating??

I got a credit check done and there is nothing on the report that would suggest any bad credit at all..

I am on a mobile contract now since last november, always paid up to date, I have another bank account that shows up on my credit record and that is also showing that it has always been good and never in debt..

thebritishbloke

John_Diver wrote: »

Wow, I forgot about that!

They agreed that they were at fault and I didn't have to pay anything for it, is that still affecting my credit rating??

I got a credit check done and there is nothing on the report that would suggest any bad credit at all..

If that's the case, then no it's not affecting your credit.

John_Diver

Thanks for the reply.

From your sig - "ALWAYS HAVE A DIRECT DEBIT SET UP FOR THE MINIMUM PAYMENT ON YOUR CREDIT CARDS, REGARDLESS OF WHETHER YOU PLAN TO LOGIN AND PAY EACH MONTH."

I had my mobile contract on DD but they were overcharging every month, it was just by luck that I noticed and I changed it to manual payment.
Is it better for credit to have DD? I could do that and just check it.

In regards to a CC, can anyone help on what is my best option if I am paying it off as soon as I get the bill to help with my credit?

Thanks again

[Deleted User]

John_Diver wrote: »

In regards to a CC, can anyone help on what is my best option if I am paying it off as soon as I get the bill to help with my credit?

See Post 2. That chap seems to have given you the answer already.

SnowTiger

John_Diver wrote: »

Thanks for the reply.

From your sig - "ALWAYS HAVE A DIRECT DEBIT SET UP FOR THE MINIMUM PAYMENT ON YOUR CREDIT CARDS, REGARDLESS OF WHETHER YOU PLAN TO LOGIN AND PAY EACH MONTH."

I had my mobile contract on DD but they were overcharging every month, it was just by luck that I noticed and I changed it to manual payment.
Is it better for credit to have DD? I could do that and just check it.

In regards to a CC, can anyone help on what is my best option if I am paying it off as soon as I get the bill to help with my credit?

The point of having a Direct Debit in place is so the bill gets paid even if you forget about it. Not paying bills looks bad on your credit report.

As for the overcharging issue you mention; that's nothing to do with Direct Debit. You should check your statements whether you pay by Direct Debit or manually.

You can pay your credit card bill any time between when the statement is produced and the pay by date.

For credit building purposes it's a bad idea to pay off your credit card balance before the statement is produced because doing so may lead the card's usage not being reported to the credit reference agencies.

System

It makes no difference at all for full payment as the issuer will simply report the account is up to date.

Anything less would be an issue as the issuer would be seeking at least the minimum payment between the statement and due date.

SnowTiger wrote: »

For credit building purposes it's a bad idea to pay off your credit card balance before the statement is produced because doing so may lead the card's usage not being reported to the credit reference agencies.

John_Diver

Thanks again.

What is a sub prime card?

I honestly don't have a clue when it comes to credit or credit cards.

Heng_Leng wrote: »

It makes no difference at all for full payment as the issuer will simply report the account is up to date.

Anything less would be an issue as the issuer would be seeking at least the minimum payment between the statement and due date.

Once again I am lost, so should I wait until I get a bill and pay it off?