Improve Credit Score

CliveOfIndia

Jami74 said:

 having a credit card is not essential to build credit history. 

No, it's not essential.  But as is often stated on these forums, it is one of the simplest ways to start building up a history.  All of the caveats mentioned previously are perfectly valid, and a credit card doesn't suit everyone.  But with the proper understanding and discipline, there's no reason not to use it as a simple - and completely free - way to start building up some history.

I'm in no way suggesting that everyone must have a credit card, far from it.  But it's just another useful tool in one's financial arsenal if used correctly.

westlife2810

Hi i am curious why i struggle to get credit when the only negatives are being on the electoral roll register for 11 months and using 60% of my available credit, i can't even get a mobile phone contract?

MorningcoffeeIV

You've identified the likely problems in your post.

MrFrugalFever

westlife2810 said:

Hi i am curious why i struggle to get credit when the only negatives are being on the electoral roll register for 11 months and using 60% of my available credit, i can't even get a mobile phone contract?

I'm assuming you are referring to struggling to get a credit card? Where have you checked and have you actually fully applied for a credit card and been declined? How many applications have you made in last 6 months?

martinbainbridge1975

As stated above ignore the score number it is irrelevant, mine is 999 and my offers on cards are crap despite spotless payment history and nothing adverse. Phone contract might be a good place to start

MEM62

th081 said:

hugoforum said:

Hi all

I have recently turned 18 and wondering the best way to start up my credit score and start developing a good score. I tried applying for a small credit card with my bank but got declined!! Any other advice or tips? 

I suppose the first question is why do you want a credit card. Remember in aggregate the credit card industry sucks a lot of money from consumers so why are you so keen to join the list. You may be one who does not pay credit cards but why take the chance.  

Because it is a useful financial tool.  It comes in handy when booking travel, hiring cars etc etc etc.  Proper use will also provide the OP with some useful credit history.  And as to whether you clear it each month, that is not down to chance - it is choice.