Young Adult Credit Building Advice

AgentOraiste

Long time lurker looking for advice on building up her credit score! So basically no cc no overdrafts loans etc ever, apart from a bill pay phone, does that even count? Has anyone any advice it would be appreciated very much ty!!xx

AgentOraiste

Bump??

Aint Eazy Being Cheezy

Are you working? If you have wages being paid into your account on a regular basis you should be able to borrow an amount based on those

AgentOraiste

Johnny Electricity wrote: »

Are you working? If you have wages being paid into your account on a regular basis you should be able to borrow an amount based on those

No im in college ya see, getting a grant but thats it, i was more concerned with building up a credit record

Aint Eazy Being Cheezy

AgentOraiste wrote: »

No im in college ya see, getting a grant but thats it, i was more concerned with building up a credit record

Open up a credit union account. Set up a standing order from your bank into your credit union, even just €5/10 a week. This will give you access to credit as well as building up a credit score assuming you always have enough in your bank acc to meet the payments

AgentOraiste

Johnny Electricity wrote: »

Open up a credit union account. Set up a standing order from your bank into your credit union, even just €5/10 a week. This will give you access to credit as well as building up a credit score assuming you always have enough in your bank acc to meet the payments

I dont see how that builds up a credit score if its not paying a bill or a debt such as a credit card?

Aint Eazy Being Cheezy

AgentOraiste wrote: »

I dont see how that builds up a credit score if its not paying a bill or a debt such as a credit card?

Sorry, I got the impression you were planning on applying for credit, ie a loan. Credit union would have been your best option.

Sorry I can't be more helpful

AgentOraiste

Johnny Electricity wrote: »

Sorry, I got the impression you were planning on applying for credit, ie a loan. Credit union would have been your best option.

Sorry I can't be more helpful :O

No probs ty

StillWaters

AgentOraiste wrote: »

I dont see how that builds up a credit score if its not paying a bill or a debt such as a credit card?

We don't have credit scores here, that's an American thing. We have credit records which show if you have defaulted on the payments. Banks will look at your earnings, and your capacity to repay. Having a consistent savings record will help this. It's very good advice to open a credit union account.

AgentOraiste

StillWaters wrote: »

We don't have credit scores here, that's an American thing. We have credit records which show if you have defaulted on the payments. Banks will look at your earnings, and your capacity to repay. Having a consistent savings record will help this. It's very good advice to open a credit union account.

I meant to say credit record so does it not count that you are able to pay your bills consistently no??

jhegarty

AgentOraiste wrote: »

I meant to say credit record so does it not count that you are able to pay your bills consistently no??

No , just loans, overdrafts and credit cards.

Any they only stay on record for 5 years.