No debt so should I get a credit card?

happyscot

Hi

I am hoping to buy a house within the next year and I am not sure about my credit history.

The only debt I have is my student loan and since I've graduated I have been out of my overdraft.

I currently rent my flat and only pay the rent. All bills and council tax are covered in my rent and so I don't have any to my name. The only thing I have is my mobile contract.

I'm concerned that I don't have much of a track record and thought I should get a card for that reason. However, I don't want to apply for a card and have that affect me in 6-12 months.

Any advice would be great!

Thanks

Malmo

You should ensure that you are registered on the electoral roll, which means contacting the local authority to register yourself at your rented address. This is a legal requirement. If council tax is included, are you sure that the landlord is permitted to let the property if it is mortgaged (either with a consent to let permission on a residential mortgage or a buy to let mortgage), or does the landlord own the property outright with no mortgage?

Malmo

Also, best to have a read of this MSE article for general tips & information about how credit profiling works and how to boost your general credit worthiness.

stator

Yes, get yourself at least one credit card and use it for your normal purchases, making sure you pay it off in full every month. This will help your credit score.

happyscot

Thank you. Seems so counterintuitive to take on a credit card but anything to boost my chances.

[Deleted User]

Not counterintuitive. You wouldn't take a driving test without having a few lessons first.

Thrugelmir

Deleted_User wrote: »

Not counterintuitive. You wouldn't take a driving test without having a few lessons first.

Credit Card = Mortgage ?