Best Credit Card (Deals) To Improve Credit

Craig32

Hi Folks,

My girlfriend is wanting to push ahead with getting a credit card. The son of her boss has just had 2 mortgage applications rejected due to his credit rating, and has been advised that getting and managing a credit card would be one option to help improve his rating.

This has got into the girlfriends head now too, that she wants to get as strong a rating as possible before she looks to get a mortgage next year.

Since I was already signed up for the debt advice, I figured where better to ask than here, as she keeps trying to ask me for advice, and I am the last person to get credit advice from.

Would her having a CC really help her in this respect? On Noddle her credit rating is already very good, with a 4/5 score. Due to my own mismanagement of credit, I have tried advising her off getting one, and just living off her own money.

Any advice would be welcomed, as I would like her to pick up one of the better deals available.

[Deleted User]

It's certainly a smart idea to use a credit card regularly and sensibly. Try her own bank, or someone like aqua or Vanquis. Don't aim for the better deals if she has limited credit history.

Her Noddle score doesn't reflect how likely she is to be given credit (or anything else really).

sxcizme3010

To get a mortgage you need some good credit history. I got one to start with with 250 limit for this reason and 4 years later Im 23000 in debt! My advice to anyone is steer well clear of CC

dresdendave

sxcizme3010 wrote: »

To get a mortgage you need some good credit history. I got one to start with with 250 limit for this reason and 4 years later Im 23000 in debt! My advice to anyone is steer well clear of CC

It will basically come down to how sensible and disciplined she is with money. If she is likely to go on a spending spree ( as above) steer clear.


If she trusts herself then a CC is an excellent way of improving her credit history. Set up a DD to pay in full, only use it for fuel or something you buy anyway and stay within your limit.
Regard a card as an alternative way to spend, not additional spending power.

Craig32

She's always been good with her money, but I have huge concerns about her getting a credit card, as I could easily see her getting carried away, going on shopping sprees and racking it up.

I have tried relaying this to her, but she's had her head turned.

sxcizme3010

dresdendave wrote: »

It will basically come down to how sensible and disciplined she is with money. If she is likely to go on a spending spree ( as above) steer clear.


If she trusts herself then a CC is an excellent way of improving her credit history. Set up a DD to pay in full, only use it for fuel or something you buy anyway and stay within your limit.
Regard a card as an alternative way to spend, not additional spending power.

I second that - set up to pay in full every month and be strict with yourself! Its far to easy to see something in a shop and say to yourself Ill pay for that next month etc.. If she gets into bother with CC then a mortgage will be harder to obtain.