Credit Builder

Carl2510

Hello;

Sorry if this is in the wrong forum, basically just want some info on a credit builder card, is there cards out there that don’t affect your credit score yet help you build credit before applying for a mortgage?

Thanks.

[Deleted User]

Just about everything will effect your score but that doesn't matter. Only you see it.

Any card, used responsibly, will build good credit history.

Carl2510

Zx81 you are everywhere

Thanks.

[Deleted User]

And yet still they replaced me with the ZX Spectrum...

Carl2510

Is it pointless getting a credit builder card if you can be approved for a normal credit card?

[Deleted User]

Not from the viewpoint of building history.

But a better card will come with better benefits - limits, rate, rewards and so on.

sambaird

Carl2510 wrote: »

Is it pointless getting a credit builder card if you can be approved for a normal credit card?

Yes - any credit card will do the job of building up your credit history.
Cards marketed as 'Credit Builder' don't have magical powers over other cards.

The reason that they market them this way is because they are generally the only cards that people that have a poor credit history can get.

If you can get approved for a more mainstream card, then you should take it - they generally have better interest rates that the 'credit-builder' cards.

Carl2510

thanks everyone,

My mortgage advisor as said best to get one who she banks with as she is already in business with them?

[Deleted User]

That can be an easier route as they have access to how she manages her funds, which others won't.

Carl2510

Shall do a check tonight with her see if she can get one they do the check before you get one so it’s only a soft search