Increasing my Credit Score

Watch
SteveyCook
Badges: 7
Rep:
?
#1
Report Thread starter 9 months ago
#1
Hey, So i’ve just turned 18 and tried to search for my credit score but it says i haven’t got one yet as i have no credit.
What are some fast cheap ways to increase this?
I heard setting up a direct debit for a charity so i donate every month can increase this? Is that true that way i’ll be increasing the score and helping out. Please let me know for any other ways to increase the score. All is appreciated Thank You
0
reply
claireestelle
Badges: 22
Rep:
?
#2
Report 9 months ago
#2
(Original post by SteveyCook)
Hey, So i’ve just turned 18 and tried to search for my credit score but it says i haven’t got one yet as i have no credit.
What are some fast cheap ways to increase this?
I heard setting up a direct debit for a charity so i donate every month can increase this? Is that true that way i’ll be increasing the score and helping out. Please let me know for any other ways to increase the score. All is appreciated Thank You
direct debit to charities don't make a difference. getting a credit card, buying something and completely paying it off each month will make a difference. Make sure you are on the electoral roll.
0
reply
SteveyCook
Badges: 7
Rep:
?
#3
Report Thread starter 9 months ago
#3
(Original post by claireestelle)
direct debit to charities don't make a difference. getting a credit card, buying something and completely paying it off each month will make a difference. Make sure you are on the electoral roll.
Do you have any ideas that i can pay off completely and how i do i get in the electoral roll
0
reply
claireestelle
Badges: 22
Rep:
?
#4
Report 9 months ago
#4
(Original post by SteveyCook)
Do you have any ideas that i can pay off completely and how i do i get in the electoral roll
you register to vote online, just apply for a low limit credit card and buy some food on it each month and pay it off in full.
0
reply
SteveyCook
Badges: 7
Rep:
?
#5
Report Thread starter 9 months ago
#5
(Original post by claireestelle)
you register to vote online, just apply for a low limit credit card and buy some food on it each month and pay it off in full.
Ah okay where can i search for these credit cards
0
reply
claireestelle
Badges: 22
Rep:
?
#6
Report 9 months ago
#6
(Original post by SteveyCook)
Ah okay where can i search for these credit cards
online using comparison sites or speak to your bank
0
reply
SteveyCook
Badges: 7
Rep:
?
#7
Report Thread starter 9 months ago
#7
(Original post by claireestelle)
online using comparison sites or speak to your bank
Would it work if open a credit card with my current bank account?
0
reply
claireestelle
Badges: 22
Rep:
?
#8
Report 9 months ago
#8
(Original post by SteveyCook)
Would it work if open a credit card with my current bank account?
yes it could do
0
reply
IWMTom
Badges: 20
Rep:
?
#9
Report 9 months ago
#9
(Original post by Themysticalegg)
Higher APR credit cards will increase your credit score quicker

Higher APR cards are easier to get when you have **** credit - that's it.

Your APR is not part of your credit profile, and other lenders certainly don't know what it is.
2
reply
Themysticalegg
Badges: 21
Rep:
?
#10
Report 9 months ago
#10
I stand corrected, I remember why I took the high APR card because no one else would take me with my minimal credit history bar Tesco at 33%+
(Original post by IWMTom)
What...? That's a load of horse****.

Higher APR cards are easier to get when you have **** credit - that's it.

Your APR is not part of your credit profile, and other lenders certainly don't know what it is.
Last edited by Themysticalegg; 9 months ago
1
reply
rareform
Badges: 3
Rep:
?
#11
Report 9 months ago
#11
(Original post by SteveyCook)
Hey, So i’ve just turned 18 and tried to search for my credit score but it says i haven’t got one yet as i have no credit.
What are some fast cheap ways to increase this?
I heard setting up a direct debit for a charity so i donate every month can increase this? Is that true that way i’ll be increasing the score and helping out. Please let me know for any other ways to increase the score. All is appreciated Thank You
You could always try to get a low-spend credit card. One with low allowance but high interest as these are easier to get with little to no credit history. Doing this you'll see your credit score come alive within a few months to a year. It's all about making sure not to over spend and setting your own limit. Ad then paying it all off each month.
1
reply
TrojanH
Badges: 21
Rep:
?
#12
Report 9 months ago
#12
Get the best credit card you can (low APR, high 0% offer), get a job, have an increased credit profile (bills, mobile phone contracts, etc).

Don't make too many applications at once, try not to utilise a high percentage of your credit.
1
reply
Lewis23z
Badges: 6
Rep:
?
#13
Report 9 months ago
#13
(Original post by TrojanH)
Get the best credit card you can (low APR, high 0% offer), get a job, have an increased credit profile (bills, mobile phone contracts, etc).

Don't make too many applications at once, try not to utilise a high percentage of your credit.
You're very unlikely to get a good credit card when you have no credit. But that's fine, the APR shouldn't matter at all because you should be paying off the balance every month in full.

Get a job, get on the electoral roll, and apply for a credit building card (I got mine from CapitalOne). Make some of your usual purchases on the card and pay it off in full every month, you'll begin to build credit in just 3-6 months.

It's very important that you complete soft searches (often called eligibility checks) before you apply for a card. CapitalOne allows you to do this as do most credit card companies. This is because a soft search doesn't stain your credit score, whereas a hard check (an application) will.
1
reply
SteveyCook
Badges: 7
Rep:
?
#14
Report Thread starter 9 months ago
#14
(Original post by Lewis23z)
You're very unlikely to get a good credit card when you have no credit. But that's fine, the APR shouldn't matter at all because you should be paying off the balance every month in full.

Get a job, get on the electoral roll, and apply for a credit building card (I got mine from CapitalOne). Make some of your usual purchases on the card and pay it off in full every month, you'll begin to build credit in just 3-6 months.

It's very important that you complete soft searches (often called eligibility checks) before you apply for a card. CapitalOne allows you to do this as do most credit card companies. This is because a soft search doesn't stain your credit score, whereas a hard check (an application) will.
Thanks i’m gonna check capital one cup and i’m gonna apply for one
0
reply
SteveyCook
Badges: 7
Rep:
?
#15
Report Thread starter 9 months ago
#15
(Original post by SteveyCook)
Thanks i’m gonna check capital one cup and i’m gonna apply for one
What if i Try and get a credit card along with my Student account?
0
reply
SteveyCook
Badges: 7
Rep:
?
#16
Report Thread starter 9 months ago
#16
(Original post by SteveyCook)
What if i Try and get a credit card along with my Student account?
And is more than one credit card does it increase the score higher or does it just have the same effect
0
reply
X

Quick Reply

Attached files
Write a reply...
Reply
new posts
Back
to top
Latest
My Feed

See more of what you like on
The Student Room

You can personalise what you see on TSR. Tell us a little about yourself to get started.

Personalise

Regarding Ofqual's most recent update, do you think you will be given a fair grade this summer?

Yes (327)
34.57%
No (619)
65.43%

Watched Threads

View All