Newbie here.. Natwest Credit Cards - Which one?!

vickytjw

I am looking for a Credit Card to help build my credit score as it is basically non-existent. I have never had any sort of 'credit' so I believe a 'Bad-Credit Card' would suit me best. I would prefer to go with Natwest as they are who I have always banked with, but the cards they offer seem to be the following:

• Balance Transfer Credit Card
• Reward Credit Card
• The NatWest Credit Card
  

Which do you think would suit me best in order to build my credit? Any advice would be greatly appreciated!

Thanks,

Vicky

[Deleted User]

All cards appear in your files in the same way.

Just make sure you clear it in full each month and don't breach the terms.

bradders1983

You may not actually get ANY of the three cards. I know they are much derided on here but maybe a Vanquis or Aqua card (or another from a sub prime lender) may be more obtainable, just make sure you pay it off each month.

cymruchris

If you've never had a credit card, although Natwest is your bank, you may find they still say NO. I would suggest for improving your credit history that you start with the likes of Vanquis, Capital One or Aqua (Other poor credit cards are available). The interest rates are high - but you should only spend what you plan to pay back in full each month. If you buy your petrol and a few groceries until you get your statement, and then settle the balance in full, you'll pay no interest. It's usually best to set up a direct debit to take the full amount. Try the eligibility checkers on the cards mentioned above - and only apply for ONE card - don't apply for lots! If three of them say 'Yes' in the eligibility checkers - still only apply for ONE.

jet01

I would check your eligibility for the entry level NatWest card first before going down the subprime route. Although they may knock you back they might not especially given that you bank with them and just have no credit history as opposed to a bad credit history. If that’s a no then at that point look at Aqua, or the Barclaycard ‘forward’ card which is designed for people with out much credit history and has an APR that’s automatically reduced if you make payments on time and keep the account in good order. 

vickytjw

Thank you all for your help & advice!

UPDATE: I applied for the standard Natwest Credit Card as it said I had a 95% acceptance likelihood and TADA I got accepted! It has a much lower interest rate than the others I was looking at too!

...Now it’s time to build my credit score and save for a mortgage!

[Deleted User]

vickytjw said:

Thank you all for your help & advice!

UPDATE: I applied for the standard Natwest Credit Card as it said I had a 95% acceptance likelihood and TADA I got accepted! It has a much lower interest rate than the others I was looking at too!

...Now it’s time to build my credit score and save for a mortgage!

Don't worry about the score, especially when you see it drop due to your new card. No one sees it but you.

Just use it responsibly.

D3xt3r5L4b

vickytjw said:

...Now it’s time to build my credit score and save for a mortgage!

No. It’s time to build some credit history and ignore the scores and ratings. You’ll be shocked when you see it drop for the first couple of months following your credit card application and the account being added to your files...

cymruchris

vickytjw said:

Thank you all for your help & advice!

UPDATE: I applied for the standard Natwest Credit Card as it said I had a 95% acceptance likelihood and TADA I got accepted! It has a much lower interest rate than the others I was looking at too!

...Now it’s time to build my credit score and save for a mortgage!

And remember - the aim is to use it and pay it off in full every month. The interest rate doesn't matter while you're doing this. To improve your credit history, you have to show good financial management. Letting a card carry a balance where you pay interest is less positive than clearing your balance monthly. Set up a direct debit to take your statement balance - so that you never miss a payment and never incur interest. (And don't withdraw cash unless it's a life and death emergency)

[Deleted User]

cymruchris said:

If you've never had a credit card, although Natwest is your bank, you may find they still say NO. I would suggest for improving your credit history that you start with the likes of Vanquis, Capital One or Aqua (Other poor credit cards are available). The interest rates are high - but you should only spend what you plan to pay back in full each month. If you buy your petrol and a few groceries until you get your statement, and then settle the balance in full, you'll pay no interest. It's usually best to set up a direct debit to take the full amount. Try the eligibility checkers on the cards mentioned above - and only apply for ONE card - don't apply for lots! If three of them say 'Yes' in the eligibility checkers - still only apply for ONE.

Always apply to your main bank (i.e. the one that your income gets paid into) first only if declined do you need to consider the subprime route.

cymruchris

dahj said:

cymruchris said:

If you've never had a credit card, although Natwest is your bank, you may find they still say NO. I would suggest for improving your credit history that you start with the likes of Vanquis, Capital One or Aqua (Other poor credit cards are available). The interest rates are high - but you should only spend what you plan to pay back in full each month. If you buy your petrol and a few groceries until you get your statement, and then settle the balance in full, you'll pay no interest. It's usually best to set up a direct debit to take the full amount. Try the eligibility checkers on the cards mentioned above - and only apply for ONE card - don't apply for lots! If three of them say 'Yes' in the eligibility checkers - still only apply for ONE.

Always apply to your main bank (i.e. the one that your income gets paid into) first only if declined do you need to consider the subprime route.

Sadly it doesn’t always work that way - as another recent poster mentioned - and  I’ve experienced myself. Using eligibility checkers usually is a good start though where they’re available to give you an outline idea of acceptance.