Cards that help credit rating

Juan10ne

Do all credit cards if regularly paid off increase or secure better credit rating? 
my rating is good , so I fortunately don’t require one to build mine due to previous problems 
thanks 

[Deleted User]

All cards will report in the same way to the CRAs (although to which ones will vary).  Lenders will see how you manage your accounts. 

If you have a thin file, then your credit rating (as assessed by lenders) will be poor.  The credit rating given to you by the CRA isn't a real one.

Using a card responsibly would be an easy way for you to build a better credit history, although if you have spending issues, may be best avoided.

cymruchris

Any credit account recorded on your history that's been well managed will have a positive impact on your creditworthiness. If you have zero credit cards right now though, there'll be little history for future lenders to review, so having a rating of 'good' doesn't mean a lot if there's no history to look at. If you're thinking of getting a card - use the eligibility checkers directly on card providers websites to find out whether you have the chance of being approved - then apply for one - use it monthly and pay it off in full by direct debit, and you'll be on your way to improving your credit history. 

Ebe_Scrooge

Juan10ne said:

Do all credit cards if regularly paid off increase or secure better credit rating?

Yes.  Any card - or any line of credit, really - that's well-managed will help to build up a positive credit history.  You just need to use it for regular, planned spending (the weekly food shopping, petrol, etc.) and always repay in full every month when the statement arrives.  A Direct Debit to pay the full amount will ensure you never forget.

Juan10ne said:

my rating is good , so I fortunately don’t require one to build mine

As the previous posters said, ignore whatever the CRAs tell you, it's what a lender thinks of you that's important.  A thin credit file (i.e. little history of loans, credit cards, any form of credit) is not really a good thing if you're looking for credit in the future.  A lender wants to see a solid history of responsible borrowing and repayment.

That aside, a credit card does have useful benefits - Section 75 protection on qualifying purchases being one of the main ones.  And if you ever want to hire a car (either in the UK or whilst on holiday abroad), a lot of hire companies insist on a credit card so that any damages can be charged to the card.  So there are benefits to having a card - so long as you are disciplined enough to never use it to buy stuff you can't afford, and which you can't repay in full at the end of the month.

martinbainbridge1975

As cymruchris rightly states above go onto the sites and use the card providers own eligibility checker.

I was showing as 0 per cent not eligible for MBNA, went to their own site checker I am pre approved, the accuracy of CRA eligibility checkers is not exactly 100% correct

born_again

martinbainbridge1975 said:

As cymruchris rightly states above go onto the sites and use the card providers own eligibility checker.

I was showing as 0 per cent not eligible for MBNA, went to their own site checker I am pre approved, the accuracy of CRA eligibility checkers is not exactly 100% correct

You also have to factor in that CRA's will be getting commission from certain providers to promote (read PUSH) their cards over other companies who do not.