Aiden
Lv 6
Aiden asked in Business & FinanceCredit · 4 months ago

How to get a first time credit card?

UK.

I've never had a credit card before. I'd like one just so that I can build credit history and make my life easier in the future. I'm 23. I've got a steady income and no credit history at all. I've never owed money and I've never come close to having nothing in my bank. I've got over £10k in my savings account.

I tried applying for one today, however it was rejected at the soft check. I figure it's probably because I have no credit history. I've looked on comparison sites and none of them can find me a credit card that I would be eligible for.

I asked my bank for any options I have to try to improve my chances of getting a credit card, however the customer support couldn't give me anything they deemed as financial support. All they did was tell me that paying off an overdraft improves credit scores, however I somehow feel doubtful that will be enough.

But what do I know? Honestly to me the whole thing makes my head spin.

I can't seem to get my head around the logic that spending more than I have and then paying it off is better than never spending more than I have and having a lot of money saved up. It just doesn't click with me and I would consider myself a pretty smart person.

So I'm going to look up on getting an overdraft now.

It leaves me wondering, how do I get credit history if I can't even get a credit card?

Or as the big question above says, how can I get my first time credit card?

Any help is greatly appreciated thank you.

Update:

Turns out I was eligible for a credit card. It was just a tad bit dumb and put in my monthly income instead of my yearly, resulting in it getting bounced. All is well in the world now, thanks for your help

8 Answers

Relevance
  • RICK
    Lv 7
    4 months ago

    No need for a CC to build credit

    I never had a CC until my mid 40s, credit score was 800+ when I applied

  • Anonymous
    4 months ago

    Discover secured card. If they have those in your stupid country.

  • Scott
    Lv 7
    4 months ago

    Apply and get approved.

  • Anonymous
    4 months ago

    only get one if you are interested in paying £40/$60 plus each month without even using the card

  • What do you think of the answers? You can sign in to give your opinion on the answer.
  • Anonymous
    4 months ago

    The best and easiest way to start a credit history is to sign up for a contract phone. 

    Make sure you are on the electoral register for your home address and they will want to know where you have been living for the last 3-5 years when you apply.

    Source(s): A word to the wise, stay away from credit cards unless you pay the balance off every month.
  • 4 months ago

    Companies like Capital One will give you a $500 credit limit that you can get increased.  Be careful though since they charge a high amount of interest if you don't pay on time. 

    If you aren't able to qualify, you might be able to place a deposit for the credit limit. Check the website for ones that operate in the UK

  • Anonymous
    4 months ago

    first, you should get a 'secured' card, where you have that much in the bank, and work your way up from there ...............

  • Anonymous
    4 months ago

    Apply for one online.....

Still have questions? Get answers by asking now.