Credit Cards for Low Credit Scorers

CaoimheK101

Hi there,

After seeing Martin on This Morning, earlier this week – his advice to get an Aquacard or Tesco Foundation credit card in order to boost one’s credit score, really struck a chord with me. I am planning on doing this now; purely for the aforementioned reason.

I was thinking I might buy my Oyster card monthly ticket each month on it (and only that), as this costs £125 so is a manageable amount. I want to purchase this on the credit card and then essentially repay it straight away. I currently pay all my bills (including purchasing my Oyster card) on the day I get paid every month so the money I have left is mine and not indebted anywhere. Do you know if it would be possible for me to make the Oyster card purchase on the credit card on my pay day and then straightaway transfer the £125 to pay off the credit card payment on the same day?

Basically, I like to keep on top of my payments from the off and would rather not have to wait a month with money in my current account that is essentially not mine, but the credit card company’s.

Thanks in advance for all of your help!

Caoimhe

[Deleted User]

It is - but if you are looking to build a credit history, then you'll want to wait for the statement.

Ben8282

Why these two cards specifically and not, for example, Vanquis or Barclaycard Initial?
The way to build a credit rating is to spend as much as possible on the card, wait for a statement and then pay it all off,
Spending a little and paying on the same day that you have spent it will get you nowhere.