Getting a Credit Card With No Credit History?

gh148

cymruchris said:

gh148 said:

fatbelly said:

Tried Loqbox?

https://www.loqbox.com/en-gb/cro-17-control

Heard of it but I'm not in such a desperate need for a card that I can be bothered to do it.

Fair enough then - sounds like you don't really need a credit card. To get from having a thin history file to a position where you have the ability to get a card does take a bit of time and effort whichever path you choose.

Things like cashback, purchase protection and rewards are not your thing?

 

(And yes, you likely wouldn't get the rewards and cashback on your first card - but you would get purchase protection - and then further down the line the other benefits as well)

If you can't be 'bothered' to take a few steps to establish a positive credit history - then that's ok.

It takes time to build trust before the big guns will give you a card, but once you're there, the extra benefits can certainly be an advantage.

The sooner you start of course if you can be bothered - the quicker you'll get your first 'not really much good' credit card - but that's the beginning of the journey.

My main goal in all of this is to get a card with good cashback or some other great incentives. If I can get one, that's great, if I can't, and I need to jump through some hoops to get any credit card, it's not that important to me to get some rewardless credit card. Something from American Express for example would be ideal. I don't know how difficult it's supposed to be to get a card with good rewards as your first card, but clearly it's, for whatever reason, out of my reach for now.

cymruchris

gh148 said:

cymruchris said:

gh148 said:

fatbelly said:

Tried Loqbox?

https://www.loqbox.com/en-gb/cro-17-control

Heard of it but I'm not in such a desperate need for a card that I can be bothered to do it.

Fair enough then - sounds like you don't really need a credit card. To get from having a thin history file to a position where you have the ability to get a card does take a bit of time and effort whichever path you choose.

Things like cashback, purchase protection and rewards are not your thing?

 

(And yes, you likely wouldn't get the rewards and cashback on your first card - but you would get purchase protection - and then further down the line the other benefits as well)

If you can't be 'bothered' to take a few steps to establish a positive credit history - then that's ok.

It takes time to build trust before the big guns will give you a card, but once you're there, the extra benefits can certainly be an advantage.

The sooner you start of course if you can be bothered - the quicker you'll get your first 'not really much good' credit card - but that's the beginning of the journey.

My main goal in all of this is to get a card with good cashback or some other great incentives. If I can get one, that's great, if I can't, and I need to jump through some hoops to get any credit card, it's not that important to me to get some rewardless credit card. Something from American Express for example would be ideal. I don't know how difficult it's supposed to be to get a card with good rewards as your first card, but clearly it's, for whatever reason, out of my reach for now.

Yes - with no significant positive credit history - no big name lender is going to offer you the best deal off the bat. It takes time to build that credit history (and trust) using some rewardless credit card. But if that's not a journey you want to follow, then as no doubt you're good without one, and in the longterm don't want the benefits a decent card brings, that's fair enough. It won't be out of reach just for now though, it'll be out of reach until you start getting together a decent history.

gh148

cymruchris said:

gh148 said:

cymruchris said:

gh148 said:

fatbelly said:

Tried Loqbox?

https://www.loqbox.com/en-gb/cro-17-control

Heard of it but I'm not in such a desperate need for a card that I can be bothered to do it.

Fair enough then - sounds like you don't really need a credit card. To get from having a thin history file to a position where you have the ability to get a card does take a bit of time and effort whichever path you choose.

Things like cashback, purchase protection and rewards are not your thing?

 

(And yes, you likely wouldn't get the rewards and cashback on your first card - but you would get purchase protection - and then further down the line the other benefits as well)

If you can't be 'bothered' to take a few steps to establish a positive credit history - then that's ok.

It takes time to build trust before the big guns will give you a card, but once you're there, the extra benefits can certainly be an advantage.

The sooner you start of course if you can be bothered - the quicker you'll get your first 'not really much good' credit card - but that's the beginning of the journey.

My main goal in all of this is to get a card with good cashback or some other great incentives. If I can get one, that's great, if I can't, and I need to jump through some hoops to get any credit card, it's not that important to me to get some rewardless credit card. Something from American Express for example would be ideal. I don't know how difficult it's supposed to be to get a card with good rewards as your first card, but clearly it's, for whatever reason, out of my reach for now.

Yes - with no significant positive credit history - no big name lender is going to offer you the best deal off the bat. It takes time to build that credit history (and trust) using some rewardless credit card. But if that's not a journey you want to follow, then as no doubt you're good without one, and in the longterm don't want the benefits a decent card brings, that's fair enough. It won't be out of reach just for now though, it'll be out of reach until you start getting together a decent history.

Thing is how can I even start getting together a history when I can't get even get the simplest, most basic credit cards right now? Stuff like phone contracts when I already have a really good one would be a waste of money, and I can't really think of any other ways.

elasto

Getting your name onto the utility bills is a good suggestion. Both my broadband provider and my water company report to the CRAs.

Maybe try to get an overdraft with your current bank, no matter how small (but don't dip into it).

There are credit cards that evaluate you if you let them link to your bank account to see all your income and outgoings for themselves. One of those might offer you a low limit card to get you going.

th081

Is the main issue the really low salary. A person's main bank would normally give a credit card with a low limit circa 500-1000 but if you only have a 5k salary they are not keen 

cymruchris

gh148 said:

Thing is how can I even start getting together a history when I can't get even get the simplest, most basic credit cards right now? Stuff like phone contracts when I already have a really good one would be a waste of money, and I can't really think of any other ways.

Loqbox has already been mentioned as a pretty much free way to get a financial product reporting to your credit history file- but you didn't want to go down that route.

A sim card contract would get you going - but you don't want to change what you have - there are deals to be had on topcashback that would help with your costs. I'm on a vodafone 12 month sim-only contract for £18 a month with 200gb of data and unlimited everything else. I got £40 from topcashback and £48 direct cheque from Currys Carphone - so £88 cashback on a £216 cost for the year - that equates £10.66 a month. I'm happy with that

Bills in your name where the provider reports to the CRAs would help too - who's paying them now? On many utility bills you can have more than one name.

gh148

elasto said:

Getting your name onto the utility bills is a good suggestion. Both my broadband provider and my water company report to the CRAs.

Maybe try to get an overdraft with your current bank, no matter how small (but don't dip into it).

There are credit cards that evaluate you if you let them link to your bank account to see all your income and outgoings for themselves. One of those might offer you a low limit card to get you going.

I do have overdraft on my student current account. I've used it (since it's completely free arranged overdraft with no fees) but fully paid it off quickly.

lr1277

Not all utilities/phone companies report to all the CRA's.

I am signed up with MSE Credit Club which takes data from Experian.

My mobile phone provider and my utility provider are not listed in the Credit Club report.

I have no idea if these companies report to other credit reference agencies.

MrFrugalFever

gh148 said:

elasto said:

Getting your name onto the utility bills is a good suggestion. Both my broadband provider and my water company report to the CRAs.

Maybe try to get an overdraft with your current bank, no matter how small (but don't dip into it).

There are credit cards that evaluate you if you let them link to your bank account to see all your income and outgoings for themselves. One of those might offer you a low limit card to get you going.

I do have overdraft on my student current account. I've used it (since it's completely free arranged overdraft with no fees) but fully paid it off quickly.

So are you still a full time student AND working self-employed at the same time?
Gaining a decent rewards or cashback credit card shouldn’t take that long to do with a little perseverance and patience, however, you do not seem to be forthcoming in putting the legwork in to benefit from it so perhaps it’s not for you anyway?

cymruchris

born_again said:

gh148 said:

born_again said:

gh148 said:

cymruchris said:

So just to confirm:

- You're on the electoral roll (How long for?)

- You have no negative points on any of your THREE main credit reference agency reports

- You do have existing accounts in your name on the credit reference agency data? (how many? current account? - if so - how long's it been on there?)

- You have no 'credit' accounts on your files? (No buy now pay later, klarna, that kind of thing?)

How long have you been at your current address?

What income are you declaring? (Approx)

Are you self-employed or employed and earning a salary?

Do you have a mobile phone? If so - who pays the bill?

A good starting point is usually to get a low value sim-only contract that reports to your credit files - there's usually a good chance of getting one even with limited history, and will form a pattern of paying something to give lenders a feel for whether you'll pay back their credit card.

Judging by the questions I assume it's supposed to be easier to get a credit card even with no credit history then? I don't know how long I've been on the electoral roll for but certainly at least a couple of years, I don't have any negative points, I only have a current and savings account, and no credit history at all. I've been at my current address since May 2018, I declare my income as roughly £5000 personal and £105,000 other household income, and essentially self-employed as the director of my own company. I could thus technically make my personal income more if necessary, but at the same time I don't want to draw too much money out of the company account just to get a credit card. I do have a phone but I don't pay for it, plus I already have an unlimited SIM plan as part of our broadband deal so there's no need for me to get any additional SIM card.

I would ring your bank & apply that way. If it is then declined then I would ask to speak to some one in the approval team, as to why, as 5 years at address & that income, seems very odd.

Could you not apply via company?

What do you mean by apply via company?

Via your business banking. So it is a business Credit card, not a personal one.

I have a feeling that the OP's 'Other household income' may be their parent's salaries rather than 'business income' - maybe the OP can clarify?