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Credit card to boost score?

(4 Posts)
Kruckshany Mon 13-Jun-16 09:58:36

Me and my partner would like to get a mortgage in the next five years so I'm looking to improve my currently non-existent credit score.

Am I right in thinking that if I got a credit card, bought one load of groceries on it (£40) and had a direct debit set up every month for that amount I wouldn't pay more than the shopping cost? Over a year or two would this improve my credit score?

We are very sensible with money so I'm not worried about being silly with it. We'd end up in crippling debt very quickly.

Does it matter what credit card I get if I intend to use it like this?

misscph1973 Mon 13-Jun-16 10:13:22

That's how I understand it. Some cards may charge a setup fee. Why don't you ask your bank for a credit card and make sure that there are no charges?

I don't think it matters what card you get. I haven't had a credit card for 15 years, but for the purpose of car hire abroad, I might need one, so I got an Aqua card, they take people with low or not credit score. I rent and I am self-employed, so I couldn't get a "normal" credit card. I

Kruckshany Mon 13-Jun-16 10:27:57

When we looked at the MSE chances of getting a credit card from our bank was very slim and being rejected for credit can make your score worse so I'm reluctant to do that.

I'll have a look at Aqua and check for any charges, thank you smile

misscph1973 Mon 13-Jun-16 11:57:31

Yes, it's strange isn't it, that applying for a credit card makes your credit score worse! It's not permanent, tough, I think it's for the next 6 months or so.

I fond Aqua via moneysavingexpert, there are some good articles there. Aqua won't give you high credit, but it's a good starter card, and once you've had it for a while and always paid on time, you will get good offers from competitors to change.

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