Best way of getting credit history?

[Wayne]

Don't get credit in anyway, shape or form 

Live on what you earn and save for the odd treat or speak to a family member if really stuck 

[bobbarley]

My combined credit cards have a limit of 22k! 

It took me 10 years to learn to be sensible with money. Cleared them all off and now I'm responsible enough to actually have them. I'd lower the limits, but they're a good reminder of what I don't want to go back to.

[SoundillusioN]

Don't get credit in anyway, shape or form 

Live on what you earn and save for the odd treat or speak to a family member if really stuck 

Eh.... How does that help when you need to get a mortgage?

[Wayne]

Don't get credit in anyway, shape or form 

Live on what you earn and save for the odd treat or speak to a family member if really stuck 

Eh.... How does that help when you need to get a mortgage?

That is a whole different ballgame to be fair.

[bobbarley]

Don't get credit in anyway, shape or form 

Live on what you earn and save for the odd treat or speak to a family member if really stuck 

Eh.... How does that help when you need to get a mortgage?

I was literally just about to ask the same thing!

Credit is a game, when you're young you just don't understand the rules.

[Agreeable Slick]

As per post #2 from Red it isn't as simple as get a credit card. It's a history, and it doesn't matter how much or how little you spend it is about you paying it back consistently over a long period of time.

Up until last year I had an almost perfect score, buying a house pummels it.

[Toby]

I got a credit card last month! Same reasons as belled, all I usemine for is the weekly food shop! The money is always in my direct debit account, statement comes in, its paid off ASAP!!


22 and I got a £9000 limit  I obviously am earning to much money

[SoundillusioN]

Don't get credit in anyway, shape or form 

Live on what you earn and save for the odd treat or speak to a family member if really stuck 

Eh.... How does that help when you need to get a mortgage?

That is a whole different ballgame to be fair.

Not really, It's the biggest purchase of your life and you need a good credit history.  For those like myself that have nobody to fall back on moneywise, a good credit rating is useful for if I ever get in the sh*t and need help.

As per post #2 from Red it isn't as simple as get a credit card. It's a history, and it doesn't matter how much or how little you spend it is about you paying it back consistently over a long period of time.

Up until last year I had an almost perfect score, buying a house pummels it.

Yarp, same here 3 years ago!

[Nino]

This time last year I had a really bad credit rating. Now I got a better than uk av. How? I looked at my earnings, setup a savings account and regularly (each month) put money in there, next I looked at who I owed money, contacted them and paid them all off ASAP. Then I took out a capital one credit building credit card. Used it, paid it off, used it paid it off this went on for awhile. Then I went to my bank got a better credit card with a higher limit, better APR and did a balance transfer to my capital one, to pay it off then cancelled it and cut it up. Now I pay my bank a fixed amount and I have 16 months at 0% APR.

Couple of tips I could give due to exp and research.
* if you get a credit card try not to max it. But use it with a few hundred of its limit. Maxing it can give the personer  that you are struggling for money.
* using money lender like wonger will hurt your credit rating. There seen as a last resort for people that cannot get credit anywhere else which in turn make you look like your struggling for money.
* if you get a credit card shop around and be carful with it e.g use it to fill your tank then pay it off straight away.
* setup a savings account.

Hope this helps

[SoundillusioN]

^^^^ very nicely put.