18 year old building credit

pinewapple_2

hi i recently turned 18 late last year, And im now wanting to start to build up my credit rating.. I am self employed and have been since i was 15/16 earning 18-20k per year. I applied for a capital one secured card as i have no credit history and they asked me to send bank statements and stuff which i did and i was accepted with a £200 credit limit and £49 security deposit i now have the card, Although the limit should rise over the months they said. I will pay the card of in full every month whatever the balance, Im just wondering if anyone has any tips or advice on building credit for a 18 year old

Thank you

D00DY_T00Dy

Welcome to the forum
As a 19 year old building credit what I found is best to build credit would be a phone contract in your name
Can get one from O2 fairly easily.
I also have broadband In my name and managed to get a ps4 on fiance which I pay monthly for 10months from curries.
Get onto the electoral role as well.
I also have car insurance that I pay monthly but you may not drive

I also got a cap one card with 4months 0% on purchases and a £500 limit. I plan to carry some credit over for the time of the 0% paying the minimum and then some. Then before 0% runs out pay in full and use for fuel and shopping.

D00DY_T00Dy

EDIT
The key to building your credit history is to stay within your means and pay everything on time

ViolaLass

Don't pay interest on credit just because you think it will make your 'credit score' look better. Just keep using that card regularly, ALWAYS pay it off on time, don't use your overdraft or payday loans, get on the electoral roll. Get some bills e.g. water, gas etc into your name if poss.

pinewapple_2

ViolaLass wrote: »

Don't pay interest on credit just because you think it will make your 'credit score' look better. Just keep using that card regularly, ALWAYS pay it off on time, don't use your overdraft or payday loans, get on the electoral roll. Get some bills e.g. water, gas etc into your name if poss.

No i will always pay the full balance on time to miss interest , I will never get loans or anything like that. I recently got onto the electoral roll, And i do have gas/electric/water and broadband all in my name

Any other advice is very welcome thank you all for replies

PeacefulWaters

Be registered to vote.

Use a credit card. Clear it in full AFTER the statement is issued.

Pay any other bills on time.

It's no more complicated than that.

ViolaLass

pinewapple wrote: »

No i will always pay the full balance on time to miss interest , I will never get loans or anything like that. I recently got onto the electoral roll, And i do have gas/electric/water and broadband all in my name

Any other advice is very welcome thank you all for replies

In which case, just give it time.