credit rating - how do you start

patsyglover

Hi, my 18 year old full time student son wants his own pay monthly mobile. he works part time, has had a bank account for 2 years and has lived here for 18 prior to going to uni. he is told that as he has no credit rating he can't get a plan. How on earth does he get a credit rating if he has never had one??

Reaper

First thing he needs to do is make sure he is on the Electoral Role at his current address.

He would normally have a credit history for having a bank account, although some banks don't report well run accounts. Or it could just be having recently moved they can't find him. If he has just moved to uni check his bank account address and the address he is applying from match.

Having done the above he may need to apply for a guarenteed acceptance credit cards, such as Capital One's. If he makes small purchases and pays it off in full each month it will give him a history.

That's in in brief, for a fuller explanation click on the "Credit Rating" link in the blue box above.

grumbler

Reaper wrote:

...He would normally have a credit history for having a bank account...

*I think* this is correct only for accounts with credit facilities such as overdraft and/or cheque guarantee card.
If he has a basic account it is worth trying to upgrade it.

Niteflyer

See my post here http://forums.moneysavingexpert.com/showthread.html?t=92512

Matt

Reaper

Niteflyer wrote:

See my post here http://forums.moneysavingexpert.com/showthread.html?t=92512

Matt

You've mixed up the link. Your url tries to take you a web site called "here"!