First ever Credit Card at 51.

tizzy71

My partner has somehow managed to get to the age of 51 without a credit card or indeed any credit at all.

We've just tried a soft application for the Barclay card and have been declined. 

She's joined the MSE Credit Club and her score is just in the excellent bracket. We currently rent and she's had no credit before so I guess its down to that as there is nothing else on the file!

We will hopefully be looking at a joint mortgage in the near future and I'm worried that without her having any credit history it maybe a struggle.

I guess no credit history is a bad credit history?

Looking for advice please.

Thank you.

grumbler

Your guess is correct.

Without  any credit at all? How come? If this is really the case, get some current account first, preferably with a small overdraft.

And build some credit history with a sim-only mobile contract or a store card.

MrFrugalFever

Hi,

Its not unusual for people to have thin credit files but quite unusual to not have any sort of credit at all. Does your partner have a mobile phone contract and utility bills in their name?

If you are already financially linked i.e. via a joint current account, then the mortgage broker will indeed look at both yours and your partners credit history, so if you have a strong credit history background it may work in your favour come mortgage application time.

There's not a hard an fast rule about who will and won't get accepted for credit but generally those with no credit history at all are just as risky as those who are in debt up to their eyeballs and can't make their repayments on time.

It might be worth getting 12 months of credit card repayments under your partners belt just to put some history on the table for the mortgage lender and i'd be talking to a mortgage broker who specialises in thin credit files / poor credit.

Beatles4

Probably go into your bank and apply there.

When I met my partner she never used a credit card and she managed to get on by going to the bank.

Explain it will help you get your credit score up, they will probably offer one with higher interest rates (if you pay on time then that won't matter) and will probably come with a low credit limit.

After a certain time your credit score will go up and you can get more credit or a card with lower interest rates.

tizzy71

She has a £2000 overdraft on her current account and a mobile phone contract. 

Neither of these showed up on her credit history.

MorningcoffeeIV

tizzy71 said:

She has a £2000 overdraft on her current account and a mobile phone contract. 

Neither of these showed up on her credit history.

Have you checked all 3 files?

Ignore the advice above about credit scores bring of any relevance to what credit you get. They have no relevance to lending criteria.

Edi81

If she’s had her account for a long time it’s possible that the bank doesn’t report it to the credit agencies. 

Who does she bank with? May be worth approaching them first. If Barclays then perhaps worth an appeal!

MEM62

As above, she should approach her own bank for a CC.  

Cisco001

tizzy71 said:

She has a £2000 overdraft on her current account and a mobile phone contract. 

Neither of these showed up on her credit history.

Change water bill to her name?

400ixl

MEM62 said:

As above, she should approach her own bank for a CC.  

If the bank is not reporting the current account or overdraft then they may not also report the CC. One of my banks does not report my current account or credit card.

Would be pointless getting a CC if it is not going to get reported if the purpose is to build a history to then get a mortgage, unless the mortgage will be with the same bank, which would make the need for the credit card moot in the first place.

gt94sss2

Are you and your partner registered to vote at your new address?