Nationwide low credit score - indicative of bad credit history?

DCFC79

philip1427 wrote: »

I wasn't using the aqua which I here is bad for your credit score. Using moneysavingexpert credit club, I have a score of 980 which I want to retain.

You might get a shock you cant really retain the score as when you apply for credit it may well change.

Alarae

They don't do the Barclaycard Cashback Duo anynore. I asked for it a couple of weeks ago but they advised it was withdrawn last year.

OP, just start with the NW and they should be willing to up your limit after six months or so as long as your account is in good standing.

Amex certainly doesn't discriminate on age either. I got the Platinum Everyday Cashback Card when I had just turned 20 and I was only a student with a part time job. Then again my working status was 'employed' on the application and not student so that probably helped at the time

boo_star

phillw wrote: »

They appear to help your credit utilisation.

https://thepointsguy.com/2016/07/how-charge-cards-affect-score/

Nationwide were always more cautious who they lend money to. The Amex charge card has to be paid off every month, so they assume you'll only buy what you can afford & you are less likely to suddenly find yourself unable to pay. While nationwide will lend you the money on an ongoing basis, you'd pay interest but in a years time you might lose your income & not be able to pay the capital. Once they have a better idea of your spending habits they'll probably raise your limit.

Ditch the Amex and just use your nationwide card and use your debit card or cash for the rest. If your cash flow is so bad that you can't afford to do that then you need to cut back on your spending anyway.

That link is from the US though. The advice may or may not be applicable to the UK.

Ben8282

Alarae wrote: »

Amex certainly doesn't discriminate on age either. I got the Platinum Everyday Cashback Card when I had just turned 20 and I was only a student with a part time job. Then again my working status was 'employed' on the application and not student so that probably helped at the time

Yes but that is a credit card. My comments were aimed at the unsuitability of charge cards for 19 year old students with part time jobs.

rtho782

I opened a Nationwide Select credit card in Dec 2015 with a £1,500 limit, it's now £5,500, although only has a few hundred pounds outstanding.

It went from £1500-£2250-£4500-£5500

So they do raise it.