Credit score - How to create it for an expat

gthe

Hi all,

I am a EU citizen (Greek) and have been to UK for 2 years now and i am looking for some suggestions to build a good credit score. My details are:

- Since day 1 in UK i work full time with an average high salary (70K+). I have no actual need for lending for now but i have to start thinking to build my credibility to be able to get decent credit sometime (or a mortgage).
- My main current account (Nationwide FlexDirect) has zero overdraft because i never asked for it since i opened the account (i could't get one the first month but later probably). Should i ask and not using it to build credit score?
- Just registered to the electoral roll in case it helps
- Just got a credit builder Barclays credit card with very low limit and a "huge" interest that i plan to only use for gas and groceries and pay always in full in order to help me acquire a credit score
- I needed a second current account on another bank, they offered me 1000 overdraft and i accepted it. Was it wrong form my future credit score (no plans to use the overdraft)
- Apart from these, i have a cash ISA, and a saving account (but not sure if these help or not)

So what do you think should be my next future move? I would like to get a decent credit card sometime with no abroad fees and a decent interest (Maybe next year after using the builder card for 12 months?). And be prepared for a future mortgage in 2-3 years if possible.

pogofish

We have a whole forum devoted to just this:

https://forums.moneysavingexpert.com/forumdisplay.php?f=257

[Deleted User]

You don’t.

Credit scores and ratings are made up by the CRA’s.

Use the credit card you have for normal monthly purchases and pay it off in full each month after the statement.

This will build your credit history that you’ll need to getter better cards and a mortgage in the future

chattychappy

Sounds like you've already solved your own problem. You have a CC and an overdraft. You're going onto the electoral roll.

So I'd say just keep going. Push as much as you can through the CC, but be sure not to miss any payments. After a few months and if you need more limit, then try the eligibility checkers and apply for a mainstream card so you can cycle more credit.

Savings don't really count, but of course are very useful for covering a deposit which makes mortgages easier.

Ben8282

If you have a salary of £70K being paid into a current account held for 2 years it almost defies belief that the bank in question are unwilling to give you a credit card with a decent limit.