hi i would like to ask you about the Credit card. I am a full time student in UK and I am working as well. ,originally i m from EU. I have been living from 2 and half years here. I don't have credit history and i would like to apply for credit card. I check that Barcley has a student credit card and also has another credit card Barcley initial credit card which is for people without credit history.The same two cards are in Halifax bank. Could you please advice me which card to apply student or initial? thanks in advanced

Hi, how are you? Where are you from?

Unfortunately, in this country everyone must have a credit score. In 2.5 years here I believe you already have it as well. All British banks, phone companies, sometimes even gyms report on you to different credit agencies, for instance, Experian or Equifax. I work with Experian and CPP. And I would advise you to try to see your credit score using Experian, however, I believe that your registration will NOT go through at the first time, because you need to confirm your identity by putting all data about you together. When you done it and when you can see your national credit scot you can get better credit cards deals. You don’t need silly student cards with ridiculous APR! In the following March it’s going to be my 3^rd year here :) but I already have Amex, VISA and MasterCard from UK high street banks. What bank are you with? And for how long? Have you got a pre-paid card (visa or mastercard)?

Mike

i dont have a prepaid card.will this help me to get a credit card.

i am with natwest and have there maestro. fom 2 ,5 years

Yes, unfortunately, you need a pre-paid card (like cash plus) to make a payment to the credit agency. Monthly subscription fee is £0.00 only for the first month and nation credit report is about £6. By some reason they except only credit card payments, and pre-paid card work absolutely the same way as a credit card.

Otherwise, you can ask your bank for any upgrades… However, Natwest is in my list of not recommended banks, as well as HSBC. Depending on which country you are from you can get some special offers. Ask Natwest if they can make a credit search for you.

Regards,

hi thank for answering. an you recomend me than where you think I sould get a pre paid credit card plaese?

No, I don’t, but it’s only one way to pay for your credit profile, e.g., with Experian. I used cash plus (mycashplus.co.uk) However, there are more attractive offers on the market now, e.g., http://uk.virginmoney.com/pay-as-you-go/.

1. 1 You try to register with Experian

2. 2 More likely they will refuse your online application

3. 3 You contact them via phone and ask what do they need to confirm your identity

4. 4 You send these documents to them (e.g., bank statement, driving licence or NHS GP registration etc.)

5. 5 They verify them and provide you with access to your new credit profile (where you can find out a lot new things about yourself)

6. 6 They also want a payment for national credit score and you can’t pay for this using your maestro card. They did not accept my VISA debit card from Lloyds TSB, they only accepted a pre-paid card from cash-plus in my case. (I didn’t have any credit cards then)

7. 7 You have your credit profile created, so now you could start ‘fixing’ it if necessary to obtain a credit card.

Do not apply for credit card straight away, because it takes nearly a month for credit agencies to exchange information between themselves.

That’s the steps I went through and it works for me.

Hi, I have exactly the same problem. I have been a resident in the uk for 2 years and 8 months and I'm a full time student. Been banking with LLoyds Tsb for 2 years and hold a Select account with them. When i wanted to change my account to a student account they said i need to have been a resident for 3 years to be able to do that. I never had loans or anything like this, not even student loans so i don't know if i have a credit report. Anyway i have had a contract mobile phone for 9 months now so could this count towards credit rating? I tried to apply for a Barclaycard and after i filled everything in online they offered me one with 27% APR (don't really know what this means) but i didn't take it. One of my friends said i should sign for this card as it will build up my credit score. Could u give me any advice on this matter please? And also could you tell me, if you get a credit card and don't actually use it much do you still pay interest - as in, if you have nothing owing on it?

Many thanks

k5thryn:

[ ] I'm a full time student.

[ ] if you get a credit card and don't actually use it much do you still pay interest - as in, if you have nothing owing on it?

?!?!!!

Yes, a credit card will help your credit score if used properly. Miss used (late or non payment) and it will damage your credit score.

If there is no balance on your card there will be nothing to pay.

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Just food for thought!

Yes, a credit card will help your credit score if used properly. Miss used (late or non payment) and it will damage your credit score.

If there is no balance on your card there will be nothing to pay and no interest can be added. You will get a statement ever month so you can check this.

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Just food for thought!

To: k5thryn wrote the following post at 01-18-2008 2:50 AM:

I had a horrid feeling that I left the above comment. WOW! You have been in the UK for the same period of time and you also have the same bank – Lloyds.

I started from the Select account as well, but now I upgraded to their gold service, because it meets my demand. I’m on a contract with VODAFONE and I can see it on my credit report (P.S. I’m not sure about the others operators), so it’s increasing your credit score. My first CC was Capital One with 32% APR (after 2 years in the country) 4 months later I’ve got Barclaycard Oyster Card with 14.9% APR, later Lloyds issued me AMEX and since then I don’t have any problems with obtaining CCs. Start from something realistic! Are you in Brighton by any chance?

Thanks for making that clear to me, Mr. Big.

So, would you recommend that i would take the Barclaycard one with 27% APR? I just want it to build up my credit.

I hold a contract with vodafone too, and i don't live in Brighton, i live in Newcastle. So you got your first cc with Capital One and only for 4 months? Can you pay it off at any time and cancel it or change to another cc company?

To: k5thryn wrote the following post at 01-18-2008 5:04 PM:

Well, I still have my Capital One CC, but it is in process of cancelation at the moment. I have to pay off the bill in 56 days after the first purchase otherwise I will be fined £12 as ‘late payment fee’ and it will have a negative impact on my credit history. APR is Annual Percentage Rate – how much you should pay to the bank or building society for using credit facilities that they provide to you. As lower your APR as higher your bank’s confidence in you.

Hi. If you are eligible to vote in the UK, I would advise you to get on the voters roll at your address. It will increase your chances of being able to obtain credit as lenders use it to verify that you are living at your address.