Applying for capital one to build a credit rating (18 year old)

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TrueUnitedFan
TrueUnitedFan Posts: 315 Forumite
in Loans
Ok, so some of you may have seen my posts over the last few days regarding getting a laptop and applying for a few phone contracts and getting declined for them.

I have no credit history and turned 18 a few days ago. I am just wondering if anyone knows anything that i could apply for where i stand a really good/high chance of successfully getting accepted for.

I'm looking for something where i could get, buy something and pay off strightaway and i was looking at the capital one classic which fits in my criteria.

http://www.capitalone.co.uk/creditcards/compare-credit-cards.jsf

thanks
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  • tell_it_how_it_is
    tell_it_how_it_is Posts: 555 Forumite
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    Bloody hell!

    Why not just enjoy turning 18 for a while?!
    “In any moment of decision the best thing you can do is the right thing, the next best thing is the wrong thing, and the worst thing you can do is nothing at all.” - Roosevelt
  • CazuaLL
    CazuaLL Posts: 60 Forumite
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    From the posts I've seen from you, chill out and stop rushing into credit deals. Avoid it unless you have to.
  • TrueUnitedFan
    TrueUnitedFan Posts: 315 Forumite
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    Not being rude, but if you must know, i am a teaching assistant, so in a few years time (around 2 - 3) I would be looking to become a full on teacher and would be looking to at least in that time period get a mortgage, so i really want to build up my credit rating ASAP.
  • rdwarr
    rdwarr Posts: 6,159 Forumite
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    TrueUnitedFan wrote: »
    Not being rude, but if you must know, i am a teaching assistant, so in a few years time (around 2 - 3) I would be looking to become a full on teacher and would be looking to at least in that time period get a mortgage, so i really want to build up my credit rating ASAP.

    Are you planning on getting a degree? I would sort out qualifications and career long before worrying about mortgages and the like. Where are you going to get the deposit?
    Can I help?
  • MFWannabe
    MFWannabe Posts: 2,021 Forumite
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    If you want to build a credit rating then the Capital One card you mention above is for that; but make sure you pay it off in full every month as it is very high interest. If you have applied for a few in the last couple of days or so then i would wait a while before applying as companies don't like too many applications
    31/03/24:  Debt total £12,400/13,192.13
  • TrueUnitedFan
    TrueUnitedFan Posts: 315 Forumite
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    rdwarr wrote: »
    Are you planning on getting a degree? I would sort out qualifications and career long before worrying about mortgages and the like. Where are you going to get the deposit?

    Yep, currently in college as well, then go on to Uni after i finish my course.

    My Nan has told me she would give me 12k gift don't have to pay it back when i decide to go for it.
  • Emmzi
    Emmzi Posts: 8,658 Forumite
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    if your next post doesn't include the words "I have talked to my own bank" then truly I give up on you. My head hurts from the wall.
    Debt free 4th April 2007.
    New house. Bigger mortgage. MFWB after I have my buffer cash in place.
  • TrueUnitedFan
    TrueUnitedFan Posts: 315 Forumite
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    Hi Emmzi, i have taken the advice you have given me on board. I'm speaking to my bank tomorrow. thanks
  • Wutang_2
    Wutang_2 Posts: 2,513 Forumite
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    Possibly worth leaving the teaching role and concentrating more on your credit score? By the sounds of it, you are letting the studying and teaching assisting get in the way of the more important things. If you spend more time obtaining credit, you can also put aside a small amount of time too preparing for 'the bad credit days' too - so many people only ever concentrate on the first bit and never get their contingency plans in place just in case it all goes absolutely t*ts up.
    Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam
  • Jeff_Bridges_hair
    Jeff_Bridges_hair Posts: 6,330 Forumite
    edited 22 December 2011 at 9:55AM
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    I do like your style in wanting to build your report up but you are rushing into things far too quickly. By just having a phone contract you will start to build up your credit report - it doesnt take credit cards to do this.

    Slow down and just take one thing at a time. Have fun being 18. Go out get drunk and get laid on the money you do earn and try not to worry about your credit report too much - it really doesnt matter to you just yet.

    Yes you may want a mortgage in 2-3 years time so allow things to develop naturally over that period of time. There is no need to rush into all things credit just to show you can pay it back.

    EDIT: Just seen Orange turned you down for a phone contract. Wait a little while and then as advised in the other thread apply for someone else - even if its a sim only contract deal.

    But I must emphasise to you to stop rushing into credit deals.
    "If you no longer go for a gap, you are no longer a racing driver" - Ayrton Senna
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