Looking for a card. Is all credit created equal?

Beartricks

I'm approaching 30 and have never really had any credit. I'm not sure if certain things count, for example overdrafts or accounts with insurance/mobile companies etc. Some of these have shown up on my credit reports in the past but I don't know what the implications are.

I've generally just bought stuff outright and never got anything on finance. The one time (I think) I've used credit in recent years is when Paypal took £1.50 out of an unused bank account, taking me below 0. I had no idea as I was paperless, charges started racking up and I only figured it out when I went to close the account and they told me that first I had to clear the -£240 balance that had accumulated. I did this immediately. This was maybe two years ago. Otherwise I have nothing on my account that could be seen as a black mark because I've never had any credit that I could misuse.

Weirdly, during this time my credit score (I know I know, ignore it) was perfect. After closing it and moving house a couple of times, Noddle, Experian etc have wildly different ideas about my score and more importantly my credit card eligibility. Some pre-approve me for cards with fairly reasonable limits and some seem to think I only have a 60-70% chance of getting some of the cards for bad credit. The MSE eligibility calculator doesn't think too highly of me, for example but a rival site tells me that I can take my pick of five or six cards.

Anyway, I want to at least be in a position where I can get a mortgage in a couple of years. I'll need to start using credit though for when we do decide to move on. I was thinking of a cashback card, but I need to buy some furniture in the next couple of months. I can afford to buy the furniture outright but I thought it might be an idea to get a 0% purchase card and spread the cost of some of it out.

My question is whether certain types of credit look better on your account. Are there companies that could potentially look bad on your credit file, for example does a credit rebuilding card look worse than an American Express (I imagine American Express is top of the pile?) because of the implication that you're using it to repair a bad image? I'd make the payments on the card no matter what, so I don't think the APR matters all that much to me, and I'd prefer a card from the most reputable provider possible. To avoid too much of an impact on my file I'd also like to apply for one that I have a very good chance of getting. In addition, is there an average limit that I can expect on a first credit card?

Any help would be appreciated.

[Deleted User]

Lenders don't see the names of your cards, so they're all good.

Expect your first card to be on the sub prime side of mainstream with a lowish limit.

Craig1981

if not much history, possibly Aqua MArbles, Capital one etc will most likely be your best option

however, Barclaycard, MBNA also have eligibility checkers on their sites, and they offer various card as well. just make sure you checking eligibility under the type of card you looking at taking.

Beartricks

Barclaycard gave me a hard no when I tried their eligibility calculator.

I'm apparently guaranteed to get a couple of Virgin and Capital One cards. There's a couple of Aqua cards that are at about 95% and apparently an Amex one that I have 95% chance of getting as well as an M&S one that might be good for the rewards.

I don't trust the Amex one because some eligibility checkers seem to think that I have no chance of getting some of the easier to get cards, let alone something like American Express.

I might put in an application for maybe a Virgin or Capital One, and possibly the M&S one.

Edit: Forgot to ask. If I get a 0% purchase card, most of them seem to require you make your purchase within 60 days of getting the card. Does this mean that any spending I do on the card after 60 days will cost me, or could I still do my everyday spending with it after I've made my big purchase?

Willing2Learn

Beartricks wrote: »

If I get a 0% purchase card, most of them seem to require you make your purchase within 60 days of getting the card. Does this mean that any spending I do on the card after 60 days will cost me, or could I still do my everyday spending with it after I've made my big purchase?

It means you pay interest on any purchases made after 60 days has lapsed. Best to pay off the card balance in full after the 60 days, to avoid interest payments

[Deleted User]

The 0% on purchases will last for as long as the promo is offered to you.

Emily_Joy

Rather than playing around with eligibility calculators have you tried your bank/building society where your wages are paid to?

LBG (Lloyds banking group) often offer credit card in their online banking systems. Nationwide occasionally sends letters along the lines "you have been pre-approved for our credit card".