Credit card- first time applicant!

Mkaan · 13 August 2018 at 9:45PM

Hi all

Im looking to apply fr my frst credit card , solely for credit history for a mortgage. Im looking online and dont understand some jargon, also know the very basic of using a CC.

Just had a look at Lloyds bank, where I hold my main account, also have my deposit there.
Q: is it OK to get a CC with them?? Or should i go for a totslly different card?

Q: they have 5 cards listed on website. Im thinking of the Low Rate platinum card (perfect shopping partner). Is that Ok for building credit history OR the higher rate 35/23 etc etc month balance transfer?

Q: What does it mean by balance transfer??? All i want to do is shop, and pay within the time limit so dont accrue charge!

Sorry if the Qs sound silly, i hope i can get some wise answers from them:D anything im missing, need to know or misinderstood- i'd appreciate all advice.

Thank you

[Deleted User] · 13 August 2018 at 9:48PM

You can try your own bank - alternatively one of the sub prime providers.

All cards build the same history - it's how you use them that matters.

You don't need a BT card. That is for transferring debts from another card, which you don't have.

Mkaan · 13 August 2018 at 9:52PM

Thank you really appreciate your response! Id kind of got the rest ( basic CC use) but not the BT

Do you think the low rate Cc would be sufficient for my particular need- whuch is fr credit history??

Mkaan · 13 August 2018 at 9:53PM

Oh i quoted you zx81! Dont know why i cant see that happening!

Willing2Learn · 13 August 2018 at 9:53PM

If you are going to pay the balance in full every month, after receiving the statement, then it does not matter which Lloyds card you apply for.

sparkey1 · 13 August 2018 at 10:02PM

Balance transfer. Where you use the card to pay another card. You dont have another card so on the face of it the low rate card fits the bill.

Unless you have a bad credit history its usually easier just to get a card from your existing bank.

All of the cards will build your credit profile the same way. Ie They give you a limit and you stay within it.

Before you go any further try their credit eligibility checker. It will avoid hard credit searches on your credit file.

Mkaan · 13 August 2018 at 10:19PM

Thank you for the clarification Willingtolearn! I think will keep things simple and go for the low rate

Mkaan · 13 August 2018 at 10:23PM

Thank you sparky1- the detailed info is really helpful.
Also i will post in mortgage thread, as im a FTB and need all the advice can get- including DOs and Donts to avoid hard credit searches- thanks for the headstart on that!
Sorry, still dont know why i couldnt quote yoi despite clicking on it- maybe as im using my phone?!?!

Credit card- first time applicant!

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