Getting a credit card with no credit history?

[gh148]

AJA wrote:

You say you’ve been in the UK for 16 years but did you arrive before you were 16 ie as a child?

How long have you been with Nationwide? Also how often have you switched banks? Also how often have you moved home in those 16 years?

I think that if you’re being refused a card with only a £500 limit potentially you might also have a problem if you’ve only been with Nationwide a short length of time. That combined with a low income and being a student as well as having your own Ltd company that obviously doesn’t generate much income and multiple soft searches you are clearly not doing yourself any favours.

Do you have a debit card with Nationwide? Maybe just stick with that?

I still recommend the low hanging fruit of establishing a credit history like a mobile phone contract or a shopping website card is tge way to go.

If you’re not prepared to do that then just stop doing soft credit approval checks for a while. Sometimes it just isn’t going to happen.

I’ve been in the UK for 16 years, arrived when I was very young. I’ve been with Nationwide since like 2015 or 2016, and apart from my student current account which I set up last year and don’t even use, it’s been my real current account. Also in these 16 years I’ve only lived in one previous house.

I do already have a debit card with them, hence why I was hoping it would be easier to get a credit card with as well seeing how well they know me but nope…

[gh148]

So going through my files one more time, I did actually spot a closed loan agreement. It was for some insurance my uni made my buy out, however it was in my name but was being paid from someone else’s account. So what about that? Is that a good piece of credit history then or because I wasn’t being paid by me but in my name just nullify any value it had?

[PeteM]

(I’ve posted some advice and links to credit builders from Monese and Loqbox, but the post has presumably gone into moderation – hopefully it’ll appear later.)

[PeteM]

I would really stop applying for any credit products right now – as others have said it doesn’t look good.

Try credit builders which are designed for people like you – Monese have one: https://monese.com/gb/en/features/credit-builder. As does Loqbox: https://www.loqbox.com/.

The service is explained here: https://moneytothemasses.com/banking/monese-credit-builder-what-is-it-and-how-can-it-build-and-improve-your-credit-score

It costs money, but it may be your best bet at the moment.