Best way of getting credit history?

[Bellend]

Cheers for most of the replies

It is mainly for mortgage etc as seriously saving for one now. Not for soon obviously but couple of years etc.

I have used Wonga once when stupidly forgetting my wallet and was miles awqy with no money, got Wonga into my spare account I don't use and claimed a lost card through Natwest which allowed emergency cash. Paud it back the next day. How bad is that? Only ever the once.

So obviously I need to speak to an advisor but a credit card for day to day things could be handy?

Credit account was for car parts as it's a pain having to have cash all the time and harder to manage

Cheers.

[JC]

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.

1, NEVER and i repeat never borrow or expect to be able to be bailed out by family - it can tear a family apart. and is certainly used in any arguements in the future about money. ex wife left me in a REAL bad place and it was in the days that the RAF took a dim view to you being in a world of sh!t financially. 

2, credit cars and loans - are the KEY part of the ballgame that is mortgages.  for example

32 year old - NEVER had credit for anything, car, car insurance, mobile phones etc etc etc was ALWAYS paid cash. nice deposit on a house, could he get a mortgage for the rest - nope - it was like he never existed - add in he never registered on the voting register - Nick Leeson had more chance of a loan from the banks   

42 year old. £39k limit total on my 3 credit cards  still got £6k ish to pay off, a loan and credit card list as long as my cars owned list including bouncing round the 0% offers like zebedee on crack and yet I have a great credit score and have my pick of mortgage offers 

 

[archie837]

If you've used wonga yous should have some sort of footprint?

Hop on experian or so and have a look. Just cancel the free trial afterwards

[JC]

if you go for a free trial credit check

go via topcashback

use credit expert


get £5 for free

 

need a friend referal for topcashback just ask 

[Shady Pioneer]

I've got some debt behind me thanks to family matters, and after reading chuff's post I couldn't agree more. Never borrow from family, it's the worst thing you can do. My family fell apart 3 years ago for this very reason. What you want to do is take everyone's advice on credit cards, buy with them and then pay them off in full, it shows you are responsible.

A couple of other things from me though, if you have credit cards that are paid off and you don't need them, close them down. Lenders look at the available credit you have to spend at any given moment. I didn't realise I had two credit accounts adding up to a few grand that I didn't need anymore, so closed them down. My current cards add up to about £9000 but only two thirds of each is used.

Ultimately, just he sensible.

[bobbarley]

Worth pointing out that your credit score doesn't take into account savings. Saving money is just a very sensible thing to do   A mobile phone contract helps as well. They're easy to get, you pay it monthly. Boom!

I had my identity stolen a few years ago and my credit was ruined, so know pretty much everything about it as I had to fix it. Got it back up to a very high level and just bought a house no bother.

Most of the advice on here is very sound, definitely agree with Chuff Re borrowing from family. Shame I owe my sister 3.5k 

[golf-sib]

With a mortgage, the key thing is to show banks you can make consistent payments, whether it be loans, credit cards, store-credit (littlewoods  ) or even overdraft facilities, these will all be on your credit record. IE, I had to use littlewoods for one thing when I moved in and cleared it, 12months later my credit score still shows it's clear with them willing to lend upto £1500 in credit.

If you are after loans, banks get funny with people like me, as I always go out, get a credit card with x amount of months 0% rack it up and clear it quickly and onto the next card, the joys of trying to do up a house in stages! Loan companies absolutely hate this for one simple reason, they can tell you are able to clear the finances, but they don't see you as profitable, as all they want to do is make money, they are after people who will borrow for as long as possible and keep up with payments, in their eye's I won't make them money, which is dam right! Why would I take out 5k at 2k interest at 5 years when I could clear that in a year with a credit card.

[Steve_PD]

Now am out the uk I don't have to pay mine anymore.....will that leave me with bad credit rating...

[JC]

steve - fcuk off 

[Steve_PD]

Thats what people said on a immigration forum....if you never intend to settle back in the UK then dont pay them...