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  1. #1

    Establishing a Credit Score

    I'm a 25 year old who has been working for 2 years now since I left university and in the last year I've started saving towards buying my first home. When I reach the stage of applying for a mortgage obviously Id like a reasonable credit score. Up until now I've kept my banking life fairly simple using only a simple current account and a debit card to carry out all my transactions.

    My question is, would it be wise to apply for a credit card now and begin to use it so that I can work up a respectable credit score by the time I apply for a mortgage? or am I in some respects best to keep things simple and carry on just using a debit card

  2. #2
    Get a card, clear in full each month and ignore the score. Everything else will taken care of itself.

  3. #3
    In addition to the advice posted use the card wisely, don't go spending more than the limit, keep track of what you have already spent.

  4. #4
    Young people and credit cards are seldom good bed-mates.

    If you get a card, do pay it off in full each month, dont get into debt over this, the temptation to keep on spending can be enormous, you dont want to end up like lots of others on these forums.

  5. #5
    That's a tad patronising is it not?

    Get a credit card with your bank and use it as your would your debit card. Get a standing order setup to pay it off in full every month.

    That way your behaviour doesn't change, but you start to build a credit history. A CC also provides better consumer protection than a debit card does.

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