No Credit History

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If you've never had credit before and are applying for your first credit card, the likelihood of qualifying for one of the marketing leading deals is slim. The most attractive deals are often reserved for those with glowing credit scores and impeccable credit history.

With no credit history a credit card company has no means to judge your reliability as a borrower and therefore will have difficulty in determining what is known as your creditworthiness. Students studying at university or young people just starting out in employment will not usually have borrowed money before and as a consequence will not have built up a sufficient credit profile for a lender to judge their creditworthiness.

Having a small number of existing credit facilities and paying these credit commitments on time will be regarded positively by a lender.

Since the credit crunch, banks have become ever more choosy about who they want as customers, so your credit score matters considerably. Your lack of credit history is termed within the industry as having a 'thin' credit file, and will mean your access to products will be restricted.

What you need to do is apply for a credit card which gives you the opportunity to build your credit score. Some cards, such as Barclaycard Initial, are aimed at people with no credit history. Although the rates are higher, using one of these cards sensibly will help you construct a credit history.

In addition to credit history, being at your current address and on the electoral roll for a number of years as well a being in stable employment for a number of years will improve your chances of acceptance.

Credit cards suitable for people with no credit history

Card Intro Rate
Balance Transfers
Intro Rate
Purchases
Representative APR
(variable)
Aquis
- 29.84% 29.8% Details / Apply
Whether you’re new to credit or have had a few credit issues lately, get back on track with an Aquis Visa Card.* Credit is provided by Vanquis Bank Limited subject to status
Representative Example
Purchase annual interest rate 29.84% (variable)
Based on a £1,000 credit limit
Representative 29.8% (variable)
Vanquis Visa
- 39.94% 39.9% Details / Apply
Suitable for people new to credit or people with a poor credit record, start with an easy to manage credit limit and build your credit with a Vanquis credit card.* Credit is provided by Vanquis Bank Limited subject to status
Representative Example
Purchase annual interest rate 39.94% (variable)
Based on a £1,000 credit limit
Representative 39.9% APR (variable)