Cap One and Vanquis

Shakin_Steve

My son turned 18 last month. Last week he got a flyer from Cap One and yesterday from Vanquis. I haven't checked but he can't have any history at all, he doesn't even have a bank account. Where do these vultures get their info from?

A4445

I don't think there is anything wrong having a card at 18 as long as it's used responcably

Shakin_Steve

A4445 wrote: »

I don't think there is anything wrong having a card at 18 as long as it's used responcably

Really? And how responcabel would it be to give a card to someone who can't even set up a direct debit to make payments?

cjmillsnun

I have to ask. How has he not got a bank account at 18? It is absolutely essential to have a bank account in today's world.

Cap1 and Vanquis will have got name and address from the electoral roll, as if they are on the unedited register, then name and address are in full view and can legally be used for marketing.

adindas

Shakin_Steve wrote: »

Really? And how responcabel would it be to give a card to someone who can't even set up a direct debit to make payments?

Is 18yo not old enough to say no or even ignore the flyer ??
If he could not say no than he should not be on the street. There is much more temptation then a credit card ...

SnowTiger

Shakin_Steve wrote: »

Really? And how responcabel would it be to give a card to someone who can't even set up a direct debit to make payments?

They haven't given him a card. They've invited him to apply for one.

Your son is old enough to vote, get married, make babies, join the army, buy alcohol, buy tobacco, gamble, drive a car and a long list of other things.

Your son is all grown up now. He's a man.

Why do you think he's irresponsible?

Shakin_Steve

SnowTiger wrote: »

They haven't given him a card. They've invited him to apply for one.

Your son is old enough to vote, get married, make babies, join the army, buy alcohol, buy tobacco, gamble, drive a car and a long list of other things.

Your son is all grown up now. He's a man.

Why do you think he's irresponsible?

Hmmm...I'm having difficulty finding the bit where I said my son was irresponsible. I did, however, find the answer to the only question I asked in an earlier post.:)

Shakin_Steve

adindas wrote: »

Is 18yo not old enough to say no or even ignore the flyer ??
If he could not say no than he should not be on the street. There is much more temptation then a credit card ...

My son doesn't live on the street, he lives in a house.

Shakin_Steve

cjmillsnun wrote: »

I have to ask. How has he not got a bank account at 18? It is absolutely essential to have a bank account in today's world.

Cap1 and Vanquis will have got name and address from the electoral roll, as if they are on the unedited register, then name and address are in full view and can legally be used for marketing.

He has a savings account at the moment, he will have a students account once he starts Uni in September. Hopefully, he will, in time, also be able to apply for a mainstream cc, not one from these vultures.

Weybridge78

It will be more difficult for him to apply for a mainstream credit card with such limited credit history. I would advise him to apply for a Capital One card and then not use it. It will provide some stability to his credit report and may have a positive impact since he won't be making late payments nor going over his credit limit. After a year he could then apply for a mainstream card once his credit history is more solid.

cjmillsnun

Weybridge78 wrote: »

It will be more difficult for him to apply for a mainstream credit card with such limited credit history. I would advise him to apply for a Capital One card and then not use it. It will provide some stability to his credit report and may have a positive impact since he won't be making late payments nor going over his credit limit. After a year he could then apply for a mainstream card once his credit history is more solid.

I would argue that he should use it, and pay it off in full every month. Having a card doing nothing will have little to no effect on a credit file.