Argos Store Card (Not Argos Credit Card) - Good way to build credit score?

GimmeSomeCredit

Hi guys, this is my first post!

Cutting to the chase, I am 21 and I am new to the world of credit. I have a credit rating of 3/5 on Noddle, which is basically an average rating because I pretty much don't have much of a credit history other than a mobile phone contract that I once had.

Thusly, I want to begin building my credit score. So I was wondering if anyone knew whether or not the Argos Store Card service contacts credit agencies, thusly appearing on your report and having an effect on your credit rating? Anyone who is a veteran holder of an Argos Card please jump in I'm sure you would be of massive help!

Thanks!

[Deleted User]

It's a way of building some credit history, which is what lenders will look at (no scores).

However, you want to be using it regularly and clearing in full each month. Given there is only a limited number of things you would want from Argos, a credit card would be a better choice.

bengalknights

Its a start although best methods are a sim only card and a basic credit card thats paid in full

pogofish

Why not ask this in the Credit Raring Forum..?

karl1989

i would say yes, but as mentioned by zX81 you will only want soo much from Argos,
i did the same as you 4 years ago to build my credit, i am now on my second mortgage lol
had to build myself up to where i now want ed to be at.
i got 3 credit cards and also Argos Card, i used to buy everyday items like fuel, food clothes etc.. even pay certain bills and then id move the balance across each card so each card was in effect being used, then i would pay off the amounts after a few weeks, so it had time to sit on my file but i paid them off without interest. this built my score up very quick and i am now at 976 experian score.
do not get caught in the trap though and make sure you pay them off!
credit cards are the fastest way to build up the score, but as all credit, have a negative impact for first 6 months but then go positive, so if going for mortgage make sure you apply for cards in advance of 6 months of the mortgage application
hope this helps

[Deleted User]

karl1989 wrote: »

credit cards are the fastest way to build up the score, but as all credit, have a negative impact for first 6 months but then go positive, so if going for mortgage make sure you apply for cards in advance of 6 months of the mortgage application
hope this helps

This is why we always recommend you always ignore the score.

The CRAs hate customers getting new credit, but lenders don't mind if it is handled correctly.

Sncjw

Can you not get a credit card from your bank. You will be able to use it in more places than a Argos card

GimmeSomeCredit

@Sncjw I can't get a credit card from my bank as I would have to be earning more than £10K a year, still a student as yet

GimmeSomeCredit

Thank you! Also wanted to ask, what would be a good starter credit card? Apparently Luma is a good option for new starters as you are likely to be accepted and allows you to start building your credit history, but is it bad to get one of those because it's people who usually have bad credit histories that get them? Also, it says that it is 0% interest for three months, that means that for each payment I make using it, I won't pay interest as long as I pay off each purchase within 3 months?

GimmeSomeCredit

pogofish wrote: »

Why not ask this in the Credit Raring Forum..?

Sorry bud new to the website thought this would be the right place as it is the credit card thread

[Deleted User]

Anything will do. Luma is fine.

Clear it in full month. Don't start off with the promo plans just yet.