UK CREDIT CARDS: When To Apply ??

Hiya guys-

Another quick one...

Ok i have been banking with Lloyds for the last 3.5 months...i know banks over here are very finnicky about your credit rating and they will always check that first before any consideration. I have also discoverd that if you dont get approved for credit ( for whatever reason ) this will show as a negative on one's credit history.

So with that in mind, when do you guys think its " an appropriate " time apply for a BANK credit card ?

BTW i already have a UK American Express card...but as most of you know, lots of places dont accept AMEX...only Visa/Mastercard.

Thanks heaps
Zufan
PS i have a bunch of US BANK credit cards but i dont think that really helps you on UK credit profile.

I just got my first UK credit card last week (been here 1.5 years).  On most applications I've seen, you have to be resident in the UK for two years.  I think what swung my application was putting my husband on as an additional cardholder -- his credit is excellent...maybe the same would work for you?

It took me one year to get a CC from bloody Lloyds. The same problem as a foreigner, I had no credit history in the UK and unbelievable but true, though we're allegedly all "united" in the European Union, banks don't interact with their foreign counterparts (and hence, my credit rating from Germany didn't count). You should try to bank with a bank that also is established in the US, like f.i. Citibank. One should think they have the resources to check your US history.

You could try getting a card with a low limit and pay off the balance every month. I did that and within a year they increased that limit 10 times! But you're right, each CC disapproval adds a record to your credit history. Therefore, try to get one from your bank first before applying anywhere else.

You could always just build up some history by continuing to use your AmEx and maybe get a couple of store cards.  Though make sure you pay those off every month as the interest rates are ridiculous!

With those store cards, it's the same though ... they won't give you one unless you can prove 3 years residency in the UK. Same goes for 'buy now - pay later'. Been there, done that. What a frustrating time that was 

I was able to get a card at Evans (yes, there's "more of me to love") after living here for 1 year and only having been employed for a few months.

I've had 3 mail-order accounts as well, and always been very good paying 3x the minimum, even paying completely off sometimes.  I was able to get a CapitalOne card here just a few months ago - even though I have rubbish credit with CapitalOne in the US! 

I got an Evans card in November (lived here 1 year 2 mos and employed 5 mos) and have had a mail-order account since November of 2003 (had only been here for 2 months and they gave me a £1000 right off the bat!). 

I know this won't help someone who already has a UK bank account but maybe for those who are in transit over here. Because I opened a current account 2 months after I arrived and needed to be here for 6 months in order to open one, Barclay's gave me an off shore account. It works exactly the same as a non off shore account. Anyway, part of the deal was a credit card automatically with a £2500 limit.  From my experience I believe the off shore accounts and plans can be more flexible. I think my package plan was called New Horizons.

Julie

You should try to bank with a bank that also is established in the US, like f.i. Citibank. One should think they have the resources to check your US history.
 

Nope.  UK and US branches of the same bank have no way of checking your credit with the other branch.  At least they didn't when I worked for a major US credit card bank from 1997-2000.  They don't communicate in any way regarding accounts.

thanks you guys...

Does the fact tha i HAVE a UK Amex Card mean anything when they check my UK credit ? I have had it for a little over 3 months now and have been paying off the entire balance every months so nothing carries over.

I guess i will have to wait a long time then before i think of applying for a Visa/M.C. credit card then eh ?

Its just that i have been reading some posts on this site where people said they got a credit card the day they opened bank accounts or immediatley thereafter....and yes these folks were non-Brits .

I just hate to use my American credit cards for purchases i am making over here .

Speak soon
Zufan

your credit history in the US won't appear on the UK screens.

Get your credit card immediately, as soon as possible. SInce you're starting a new job, they must have a mechanism to deposit your salary into a bank. When you set this up, demand a credit card. This is how I got my one and only UK credit card, with Fatwest.

Wow, thats interesting news Lightbulb.

I actually have had direct debit set up with Lloyds for several months now...do you think i stand a better chance because of this then ?

Ofcourse this would be good news if i infact stand a good chance of getting a bank card because of the fact that i had established direct deposit via my previous temping agent and now directly via the company i work for.

Zufan

Try it. All that you need is a card, don't worry about the limit. I think that mine started out something like 500 pounds, but they keep raising it so that the limit is now around 7 grand. Once you get one card, you'll find it stupid easy to get more.

I think your right Lightbulb...

I will try it and see what happens.

Thanx!
Z.

Lloyds told me today that one would need to have direct deposit set up for atleast 6 months before one can even think of applying for a bank card .

...oh well.

Zufan