Help with Credit Rating (18 Years Old)

KelhamJack

I have done a lot of research myself but a lot of it is US based and I want some help for the UK

What credit card is best for me that I can use to build credit? (Shows on all 3 credit report things)

What is the best and quickest way to build it? (I heard spend 10% or allowed credit or under)

Is it worth having multiple credit cards, if so which ones?

Willing2Learn

Hi KelhamJack and welcome to the forum

For your first mainstream card, you will possibly be accepted if you apply to the bank with whom you have a current account. If that is declined, then you would need to apply for a sub-prime offering such as Aqua, CapitalOne or Vanquis.

You need to build evidence within your credit file demonstrating you can successfully credit accounts. You can do this by going for a SIM-only contract on a mobile and paying for your utility bills on a Direct Debit. Also, it is very important to be on the Electoral Register at your current address.

With a credit card, you wan to use it each month it for your normal monthly expenses for groceries and travel costs. Then pay off the balance in full, by the due date, once you have received the monthly statement.

KelhamJack

Is there an optimum percentage of the credit I get given that I should spend to start building my score?

Which one out of Aqua, CapitalOne, or Vanquis do you recommend and do you know anything about the Amazon Classic card? (and should I have multiple)

Plus do they all offer auto-pay services?

Willing2Learn

KelhamJack wrote: »

Is there an optimum percentage of the credit I get given that I should spend to start building my score?

Which one out of Aqua, CapitalOne, or Vanquis do you recommend and do you know anything about the Amazon Classic card? (and should I have multiple)

Plus do they all offer auto-pay services?

There is no optimum percentage of credit that should be used, as you will be clearing your balance in full each month.

I believe that Aqua, CapitalOne and Vanquis all have eligibility checkers that you can use to determine your likelihood of being accepted. I have no preference.

I have an Amazon card. I don't recall there being an elegibility checker for this card though.

I would only apply to have a single card at the beginning as you want to get used to managing the credit you have available without building any debt.

[Deleted User]

You don't have a credit score - you have credit history - this is what you need to build up.

Amazon do have an eligibility checker for their card I believe

KelhamJack

Which one has the best app and I assume they also all have a way of auto pay?

I can supposedly get any of the cards listed here with the eligibility checker I did

[Deleted User]

KelhamJack wrote: »

Which one has the best app and I assume they also all have a way of auto pay?

I can supposedly get any of the cards listed here with the eligibility checker I did

What do you mean by "auto pay"?

And what defines an app being the "best"?

KelhamJack

Easiest to use I guess, capital one has highest reviews and great rating so may go for that

and by auto pay, I mean set it up so the money is automatically taken to pay off the credit I’ve used at the end of the month or whenever the billing period is

(Sorry if my knowledge of financial terms isn’t the best)

[Deleted User]

KelhamJack wrote: »

and by auto pay, I mean set it up so the money is automatically taken to pay off the credit I’ve used at the end of the month or whenever the billing period is

You just need to set up a full pay direct debit with whichever card you end up getting.

Apply for the one that give you the greatest chance of acceptance via an eligibility checker, not the one with the shiniest app.

KelhamJack

Thanks for all the help so far,

I didn’t mean I want the shiniest app, just wanted to know if any of them had problems with apps, hard to use, etc.

I have 100% chance with capital one but which card do I get, classic, classic complete or platinum?

The clear score app is showing that the Capital One platinum card is the credit building option but just checking before I apply

[Deleted User]

Any card is good for building credit history, regardless of the lender, name of the card, or shiniest app.