Credit Scoring

andy2k · 12 Jul 2006 at 09:05

I've recently turned 18, and applyed for a credit card. They have come back to me and said my credit scoring isnt good enough.

How is this if i've never had credit before? How can i improve it?

Gilly · 12 Jul 2006 at 09:07

If you've never had credit before, how can your credit score be good?

Its difficult to get credit when you're first starting out. Can't remember what I did to get it. I think I applied for a 0% overdraft, used it and paid it off a few times, then got a CC with the same bank and went from there.

gjc10212 · 12 Jul 2006 at 09:08

Try Barclaycard or CapitalOne - they both offer credit cards that will improve your credit status.

Dont apply for to many in one hit as this will look bad on your credit report.

read up at www.equifax.co.uk or www.experian.co.uk

Luke · 12 Jul 2006 at 10:03

Get a mobile on a tariff if you've not got one currently. This will help (if you pay it on time!)

Luke284 · 12 Jul 2006 at 11:05

as emailiscrap says get a mobile contract.

i applied for a CC soon after turning 18 and was declined. i got a mobile contract about 3 months before my 19th birthday and about 3 months after that i applied for a student barclaycard and got one.

i buy everything on it and there is a direct debit set up to pay the full balance off each month.

CCs are good as long as your responsible and only buy what you could have bought using your debit card - thats my rule anyway.