18 years old and getting a credit card.

fred18

I want to start developing a credit rating as I have already been rejected for just a standard 18 year old account with an overdraft(and the better visa! Which is what I really want it for) at the bank I have been at with a standard account since I was 16!. So I am thinking of applying for Capital One Classic Visa Card. I will only use the card for paying for things that I would have brought anyway such as my World of Warcraft subscription and pay it off in full every month. Will this improve my credit rating greatly and how long will it take to make an effect. Or should I keep trying to get my bank to upgrade my account somehow. I am also going to university in august and most of my friends have tried applying for a student bank account and been rejected on the fact of having no credit rating. So will the credit card make an effect to help me get a student bank account near to the time?

Bokkens

There are a lot of factors that affect a credit rating/score.
Read through Martin's credit score articles and then apply it to your situation.

ShelfStacker_3

Long story short: yes, so long as you make payments each month and don't go over your limit, after a few months you'll have a better credit rating.

ericajones80

proper use and payment of the credit card will improve your credit and increase your chances yes