Debt to income ratio too low

[Deleted User]

By using a credit card card - any credit card - and clearing in full each month.

Doesn't cost you a penny and no build up of debt.

msallen

Take a step back here. The end goal of this is to build a credit history in the UK yes?

Do you by any chance have (or could you still get) an AMEX card issued in your home country? If so then AMEX will offer new local credit facilities to existing customers when they relocate between countries. If you can get yourself a UK Amex card then you can easily build from that.

Mr.Saver

msallen wrote: »

Take a step back here. The end goal of this is to build a credit history in the UK yes?

Yes, that's my goal.

msallen wrote: »

Do you by any chance have (or could you still get) an AMEX card issued in your home country? If so then AMEX will offer new local credit facilities to existing customers when they relocate between countries. If you can get yourself a UK Amex card then you can easily build from that.

No, unfortunately I don't have an AMEX card, and since I'm no longer a resident in my home country, I doubt that I will be able to get any credit at all. However, as I said in my post before, I do have two credit cards in the UK albeit that they have high interest rate and low limit.

Mr.Saver

Deleted_User wrote: »

By using a credit card card - any credit card - and clearing in full each month.

Doesn't cost you a penny and no build up of debt.

Does this still apply if my spending on the credit cards is very low compare to my income? For an unrealistic example, earning £1,000,000 annually but only spend £1 monthly on a credit card, and repay it in full each month.

[Deleted User]

Yes. That will be fine.