How to build Credit Rating (First Post!)

Mst

phona wrote: »

What's confusing you? Do you have any specific questions about it?

You'll see offers for balance transfers and introductory interest rates for purchases. Ignore stuff about balance transfers: that's using the new card to pay off an existing one so no use to you since you don't already have a card to pay off.

The introductory rate is often 0% APR for 12 months, or something like that. That just means there isn't any interest for the first year so you can just repay the minimum payment. You probably still want to repay in full and on time so you get into the habit!

I would definitely avoid any cards with an annual fee in your circumstances.

Who do you bank with?

Right, you've pretty much answered my questions! The balance transfers were confusing me as I didn't quite understand what they were.

I bank with HSBC, perhaps I should ask them if they have any offers etc.

Thanks!

Mst

Thrugelmir wrote: »

If you intend repaying the balance every month. Apply for one which gives you cash back, or incentives of some knid, i.e. Tesco's, M&S.

Ok, I'll definitely look into that.