Building your credit history? Watch

LissRules!!
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#1
Report Thread starter 9 years ago
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Hiya,

Just wondering if anyone has any tips for building a credit history? Or any credit accounts that are easily accepted?

I've tried applying for credit cards and store cards but have always been rejected and im guessing its because of my lack of credit history??

Any advice?

Thanks in advance.
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jk1986
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If you have no previous credit history and have a full time income then you shouldn't be getting rejected. Are you working full time?
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LissRules!!
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(Original post by jk1986)
If you have no previous credit history and have a full time income then you shouldn't be getting rejected. Are you working full time?

Yup. Earning 18k a year. I have no previous outstanding bills or ever paid anything late so really unsure of why this is happening. I'm only 18.. could this be the reason??
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jk1986
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(Original post by LissRules!!)
Yup. Earning 18k a year. I have no previous outstanding bills or ever paid anything late so really unsure of why this is happening. I'm only 18.. could this be the reason??
I have no idea, that's really strange - never had the problem myself earning similar wage with no credit history either and I have a couple store mastercards for the discounts you get (although never used them outside their store.
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Puma
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Age is a factor.
But so is your address...
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Belle-x
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Everytime you apply for a store card and get rejected, it goes on your credit history! So don't apply for anymore until you've worked up a good credit history..

Have you got a phone bill or something? That counts. As does an overdraft.
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fire2burn
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Have you ever had anything like mobile phone contracts? These help to build a credit rating.
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Heir-Head
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It's near impossible for an 18 year old to get credit, I've tried. The credit rating system works by allocating a certain number of points to you depending on several factors e.g. being a homeowner/on the electoral register/previous payments etc. It's a catch 22 situation as you can't get credit if you don't have it but you can't get it in the first place.
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LissRules!!
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Thanks for the replies,

I have a £200 pound overdraft, a phone contract and mobile internet contract? So will these help build my credit history on there own?

I also have all bills accounts in my name like gas, electric ECT if this helps??

Will having these things allow me to build it without a credit card? Also as i'll be having a student account does this mean i will auto get a student credit card if i apply or again will it be done on a credit rating??

Thanks for all your help as you can tell im useless with all of this.
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DCP11OC
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www.aboutmyvote.co.uk --put yourself on the electrol role it makes you seem like your "settled" as creditors don't like you moving about.
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Dionysus
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You are not at all guaranteed to get a student credit card. They can be rejected for all sorts of things. Some people can't even get student bank accounts. Capital One have a credit card that you should be accepted for. It's 34.9% APR but you can get an instant decision on their website. For the first four months, you'll be on an introductory rate (probably £100-200) and if you maintain a good account they'll increase it after that. It's a good way of building up your credit rating so that in a year or so you might be able to get something better. Also, by the way, if you've been rejected for a card, don't apply to the same company again for at least 6 months - you'll be automatically rejected.
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joshp1407
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(Original post by LissRules!!)
Hiya,

Just wondering if anyone has any tips for building a credit history? Or any credit accounts that are easily accepted?

I've tried applying for credit cards and store cards but have always been rejected and im guessing its because of my lack of credit history??

Any advice?

Thanks in advance.
my dad works in that industry and his advice to me was to get a high interest card (i got a capital one card that was about 35% i think, then i set up a direct debit on it (i use my phone and lovefilm). Then just set up a direct debit to pay that off very month. has worked well for me
oh but i started using the card too much so i've chopped it up now :P still use it for my phone and lovefilm though
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