Best credit cards for improving credit score and rewarding spending

Bookowl

Hi,
Hope someone can help. I hold a nationwide credit card at 18.9%, I always pay it off in full and my spend is roughly £200 a monthly give or take on a £4300 limit. I am looking to improve my credit score

I would like to be rewarded for spending while improving my credit score. I mostly shop at Tesco or amazon.

Could anyone suggest cards that would be good for this?

Thanks

onlyfoolsandparking

Well Tesco and Amazon have their own credit cards although I'm not sure what incentives they offer with purchases, how many cards do you currently have?


Just out of interest why do you want to improve your credit score? do you know what score you currently have? and also you do realise a credit score means nothing to lenders, the fact you spend and pay off in full is a good indicator to lenders.

[Deleted User]

A Tesco or Amazon card maybe?

Ignore your fictitious score and rating

redux

Tesco debit card might collect points faster than their credit card, wortb checking.

Craig1981

have a search for cashback cards/reward cards

Amazon Platinum offers 1.5 points on £2 spent at Amazon, and 1 point for £2 everywhere else. 1000 points is £10 amazon voucher, so about 0.5% cashback in total - this is the same as majority of cashback cards, although others you may get yearly in one lumpsum instead

tesco credit card has reduced their points on spending - 1 point per £4 at tesco, 1 point per £8 sepnd anywhere else, so lets say you spend at tesco only, works out to 0.25% cashback (in points), which can be tripled on days out etc with clubcard boost, but then still only works out at 0.75%

Bookowl

I would like to improve my credit score as in next 5-7 years I'd like to purchase my first home and I'm informed that lenders look at your credit score.

On noodle I'm at the excellent scale, but the score seems low

My monthly payment is due on my nationwide credit card on Monday, after that I wasn't planning to use it, if I applied for a tesco or amazon cc. Would this be OK to use my nationwide cc sparingly?

[Deleted User]

Bookowl wrote: »

I would like to improve my credit score as in next 5-7 years I'd like to purchase my first home and I'm informed that lenders look at your credit score.

On noodle I'm at the excellent scale, but the score seems low

No lender looks at your credit score - only the data.

Ignore the made up numbers and just manage your credit responsibly. Use and clear at least one credit card in full each month.

PRAISETHESUN

https://www.moneysavingexpert.com/credit-cards/best-credit-card-rewards/

Depending on which retailers you shop a lot with, it may be worthwhile getting a store-branded credit card (eg. Tesco/Amazon). Otherwise a generic cashback card may be your best bet.

And has been mentioned, ignore any reference to your credit "score" from the CRAs. No-one sees those scores but you - so what matters most is your credit history (ie. how you manage your cards over the long term). Keep doing what you're doing with respect to paying off the cards every month and keeping your utilisation low as this is the easiest way to build and maintain positive credit history.

maxximus75

Unless you spend lots of money, reward credit cards are not that great imo.


In regards to your Nationwide card..... if you do get another card then just use the Nationwide on occasion to keep it active and make sure its set to pay off, in full and that will help your credit history.

Craig1981

if you only planning on mortgage in next 5-7 years, apply for your next card soon, may be worth again in next three months getting another one as well.

use them all, pay off in full to avoid interest, never spend more than what you can pay

lenders, as said, dont look at your score, but history is important - longevity of accounts is also good, so dont close any accounts

Bookowl

I spent this evening doing the budget planner, wow! I’m only half way through it.It opened my eyes, I could save a couple of thousand a year. I didn’t realise that all the amazon tatt I’d been buying on my credit card equates to roughly £215 a month. I am able to pay it off in full every month, but would like to spend on it only the essentials which will build my credit and save my money. Rather than buying stuff I don’t use.

Should I look at repriortising my budget first before I look at a 0% credit card?