Building credit from scratch

Dobbibill

It is too many, these will be hard searches as they were applications.

save the money as previously said - think about the cost of
- the car
- the insurance
- the tax
- repairs
- MOT

so a good couple of hundred £s a month.

Once you get the car depending on mileage you will be able to reduce that budget slightly as fuel will replace car savings - the rest are ongoing committments.

jay1804

3 searches and nothing to show for it, is bad. As you have only added negatives to your history and nothing on your file at the moment, will add positives.

Listen to what other people have said wait at least 6 months. From being in your position, a year ago, I understand wanting to build you credit history, however it comes with time.

For me, 10 days after I turned 18 I got a contract through transfer of ownership. You could try that!

gionnetto

Callumrayb wrote: »

I got the message "Your credit score is too low" and didn't get offered for a secured card.

Because, differently from what many people seem to think, credit scores do factor into the decision! :beer:

You are already doing what needs to be done, as in: being on the ER, and having a mobile contract. You now have a Loqbox, and that's another thing that will build your credit history and score.

Unfortunately, it's unlikely you will qualify for a credit card before 6 months, simply because you need to be fiscally resident in the UK for 183 days before being given one. If you are working, get a current account - that will build up history as well. If you are studying, get a student account.

After you've had an account for 6 months, apply to a subprime lender, no matter what APR you get. The easiest to get is Vanquis.

Good luck! :rotfl:

[Deleted User]

gionnetto wrote: »

Because, differently from what many people seem to think, credit scores do factor into the decision! :beer:

You are already doing what needs to be done, as in: being on the ER, and having a mobile contract. You now have a Loqbox, and that's another thing that will build your credit history and score.

Unfortunately, it's unlikely you will qualify for a credit card before 6 months, simply because you need to be fiscally resident in the UK for 183 days before being given one. If you are working, get a current account - that will build up history as well. If you are studying, get a student account.

After you've had an account for 6 months, apply to a subprime lender, no matter what APR you get. The easiest to get is Vanquis.

Good luck! :rotfl:

The CRA “scores” are not a factor at all.

The lenders own internal “scoring” system is an entirely different ballgame and not a matter of public knowledge.

So the same applies - ignore the CRA scores and ratings at all costs

gionnetto

Callumrayb wrote: »

I got a 2 month sim only contract through carphone warehouse.

Like I said my mother pays the electric and gas and it's a prepaid system.
Any way around this?

Also, Three allows you to get a SIM only contract without a credit check if you pay a deposit. They will credit it back to you after 6 months.