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Credit Scoring

Discussion in 'General Discussion' started by andy2k, 12 Jul 2006.

  1. andy2k

    Hitman

    Joined: 15 Jun 2005

    Posts: 610

    Location: Swindon, UK

    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?
     
  2. Gilly

    Man of Honour

    Joined: 17 Oct 2002

    Posts: 95,526

    Location: I'm back baby!

    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.
     
  3. gjc10212

    Wise Guy

    Joined: 20 Oct 2005

    Posts: 1,226

    Location: London

    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
     
  4. Luke

    Soldato

    Joined: 19 Jul 2005

    Posts: 7,052

    Location: S. Yorkshire

    Get a mobile on a tariff if you've not got one currently. This will help (if you pay it on time!)
     
  5. Luke284

    Wise Guy

    Joined: 18 Oct 2002

    Posts: 1,827

    Location: Southampton

    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.