Building Credit Rating

vintagebrighton

Hi, just after a bit of advice if thats ok

I'm building up my credit rating from nothing to ultimately, a First Direct account. Mainly for access to the savings account.

So far I have an Aqua card (2 months), a current account with TSB (for the 5%) and a Coop current account together with a cashminder. I opened the Coop account as an account I can 'lose' when/if I manage to get a First Direct account. I've opened a couple of catalogue accounts too which were both accepted with no problem.

I'm also self employed if that makes any difference.

I guess it's a 'how longs a piece of string' question but how long should I leave it to try opening a First Direct account? I have a 'clean' credit history but no indication to any lender that I'm a 'good risk' if that makes sense?

Thanks

VB x

Candyapple

As you said, how long is a piece of string?

How long have you had your bank accounts for?

Are you on the electoral roll?

Anything else being reported on your files e.g. mobile phone?

If the Aqua card is the only card you have, I would probably wait 6 months if I was desperate for a FD account, or a year to be on the safe side. Although saying that, no one knows how FD score an application so you could apply now and providing you meet their criteria re salary etc, you could get the account now as opposed to waiting a year.

vintagebrighton

Thanks

I guess the only way to be sure is to apply! Think I'll leave it 6 months then give it a go

VB x