NEED A CREDIT CARD OR LOAN - bad credit score but no cjjs or anything like that

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Hannah12373
Hannah12373 Posts: 1 Newbie
in Credit cards
Hi

Looking for a credit card or loan company that offers money to younger people just starting out. I am 22 work full time and have a decent wage little to nothing credit due to never really having anything, recently moved into my own house (rented) need a need cooker ect and lots of other expensive appliances could do with a small loan or credit card ????

Thanks

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  • Browntoa
    Browntoa Posts: 49,300 Forumite
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    Look for interest free in-store offers or get a 0% credit card for spending
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  • [Deleted User]
    [Deleted User] Posts: 35,242 Forumite
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    Also look at Freecycle for expensive appliances which are free.
  • DCFC79
    DCFC79 Posts: 40,598 Forumite
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    edited 11 June 2018 at 1:58PM
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    Hannah12373 wrote: »
    Hi

    Looking for a credit card or loan company that offers money to younger people just starting out. I am 22 work full time and have a decent wage little to nothing credit due to never really having anything, recently moved into my own house (rented) need a need cooker ect and lots of other expensive appliances could do with a small loan or credit card ????

    Thanks


    Yes you may have a bad score but its here nor there since lenders don't see it. Lenders see your history.

    Who is giving you the bad score ? There's 3 other agencies who lenders use.

    Maybe give moneysupermarket a go.

    A credit card is your best option.


    A worst case scenario (if for example you don't get a credit limit that's enough) is you decide which appliance is more important and you buy accordingly.
  • FreeBear
    FreeBear Posts: 14,628 Forumite
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    DCFC79 wrote: »
    A credit card is your best option.

    A credit card will have high to extortionate interest rates. The best way to use a CC is to aim to pay the balance off in full each month. But then if the OP is able to do that, it would be possible to negotiate cash discounts on white goods.

    My recommendation is to build up a track record of saving with a credit union, and then tap in to their (relatively) low cost loans. Find one at https://www.findyourcreditunion.co.uk/

    If the OP is poor at managing money, it won't take her long to end up in a spiral of debt leading to an even lower credit rating.
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  • DCFC79
    DCFC79 Posts: 40,598 Forumite
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    edited 11 June 2018 at 4:21PM
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    FreeBear wrote: »
    A credit card will have high to extortionate interest rates. The best way to use a CC is to aim to pay the balance off in full each month. But then if the OP is able to do that, it would be possible to negotiate cash discounts on white goods.

    My recommendation is to build up a track record of saving with a credit union, and then tap in to their (relatively) low cost loans. Find one at https://www.findyourcreditunion.co.uk/

    If the OP is poor at managing money, it won't take her long to end up in a spiral of debt leading to an even lower credit rating.


    That's alot of information we don't know. I was going on the basis the OP was going to be sensible with a credit card. If its an amount that's suitable and paid off when due then she will be fine.
  • eskbanker
    eskbanker Posts: 31,034 Forumite
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    Try eligibility checkers to see how you're likely to be perceived by lenders:

    https://creditcards.moneysavingexpert.com/?bad-credit
    https://creditcards.moneysavingexpert.com/?purchases
  • stehouk
    stehouk Posts: 412 Forumite
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    personally i think you should buy used from ebay-sphock-gumtree or charity shops, some people will even deliver for fuel cost, its amazing what you can pick up 2nd hand, living cost's will be hard enough if its your'e first home
  • dresdendave
    dresdendave Posts: 889 Forumite
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    Regard borrowing money to obtain these items as a last resort. Ask around amongst friends, family and work colleagues and often people will have appliances no they longer use which they will be glad to get rid of.

    People often replace a working appliance because they want something newer, a different colour, with extra features etc.


    This will get you started and if you want something more modern, save up and buy it outright.

    The same rule applies to furniture as well.
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