Will i be refused a Credit card?

Coldred

I've recently been thinking about getting a phone contract, however i dont have any credit history i dont think, i have a student loan, other than that no debts, im on the electoral register where i live but becuase i dont have much credit history im worried ill be refused a phone contract, i was told it would be a good thing to get a credit card to get some credit history.

Is this true? if so what is the best card to go for or because i have very little credit history will i also be refused a CC, what are my best options??

Thanks

ben1con3

you could try and apply, they may want to see confirmation of your address. You have to start somewhere to get credit. you won't have had many credit searches I presume, so this one won't make much difference.
Don't apply for a credit card unless you are going to use it. If you have a bank account and you have stayed within your limit, they will use this to credit score you.
I hope that helps

Coldred

ben1con3 wrote: »

you could try and apply, they may want to see confirmation of your address. You have to start somewhere to get credit. you won't have had many credit searches I presume, so this one won't make much difference.
Don't apply for a credit card unless you are going to use it. If you have a bank account and you have stayed within your limit, they will use this to credit score you.
I hope that helps

I currently am in my overdraft, but have never gone over that limit, will that effect it?

id only use the credit card for small purchases just to gain some credit.

howmuchcaniget

Coldred wrote: »

I've recently been thinking about getting a phone contract, however i dont have any credit history i dont think, i have a student loan, other than that no debts, im on the electoral register where i live but becuase i dont have much credit history im worried ill be refused a phone contract, i was told it would be a good thing to get a credit card to get some credit history.

Is this true? if so what is the best card to go for or because i have very little credit history will i also be refused a CC, what are my best options??

Thanks

Don't go down the credit card route.

Credit scoring is different for different products and it is all done with a points system. The points required for a mobile phone will be a lot less than for a credit card so you should be fine just getting a mobile contract.

I work in the banking industry and I definately do not recommend the crdit card route unless you can and will clear the balance in full every month. It is too easy to slip into debt you can not afford.

gt94sss2

There are two different issues here to do with you credit history.

1. You want a mobile phone contract (not PAYG). For this I would just apply and see what happens - and remember that different networks have different credit scoring policies so if (say) Orange refuse to give you a contract, o2 might still accept you

2. You want your 1st credit card. For this, I would apply to the bank with whom you have your current account as that shoud maximise your chances of being accepted. After some time, you could always apply for another card from a different company if you wanted.

Regards
Sunil