No credit - never had a loan!

Flashdean

I'm in a position where the ICB have no records of me as I've never had a credit card or loan.... I want a credit card but keep getting refused.

How do i get credit whilst not able to get a loan??

Thanks in advance

ArthurG

What do you mean by 'get credit'? Your post is confusing.

GerardKeating

Flashdean wrote: »

I'm in a position where the ICB have no records of me as I've never had a credit card or loan.... I want a credit card but keep getting refused. 

How do i get credit whilst not able to get a loan??

Thanks in advance

Most anything/everytyhing you can do with a creditcard, can be done with a debit card, except perhaps car hire. I assume you tried the bank that you hold your current account with, and get your salary paid into ?

_Brian

I’ve heard of people in the past taking out small loans with the credit union and then repaying it to build credit rating, them take larger one and do same, obvious disadvantage I could See was paying interest for essentially nothing.

Berserker

What reasons are they giving you? I've never had a loan either but I did get a credit card a few years back. Had no issue getting one. Was told it was a more secure option for certain types of payments, so I got one. What age bracket are you in OP, as a matter of interest?

_Brian wrote: »

I’ve heard of people in the past taking out small loans with the credit union and then repaying it to build credit rating, them take larger one and do same, obvious disadvantage I could See was paying interest for essentially nothing.

I was advised to do this a few years back when I was buying my last car. I researched it but the interest repayments were a complete shock to me, so I just paid for the car up front.

drunkmonkey

Go in an speak with someone in the bank, assistant manager etc. Have you had a steady payment history into your account. It shouldn't be a problem.
It's it a bit like the chap who can't get a job as he's no experience. You've no credit history so your a gamble on the unknown.
Ask for a big enough credit card as they can be handy, if they'll give you 5 or 10k of a credit card take it. You can use it to negotiate in the future if your looking for a loan.
For example you want a car loan and look for 20k they'll say no we'll only give you 10k then offer to give you 9k of your credit card and they'll give the full amount.

eeloe

Flashdean wrote: »

I'm in a position where the ICB have no records of me as I've never had a credit card or loan.... I want a credit card but keep getting refused.

How do i get credit whilst not able to get a loan??

Thanks in advance

Apply for a credit card with a 100% payment every month, use it for a few months, make sure you NEVER miss a payment, within a few months you'll have an awesome credit score.

I started with a 300 limit with 100% payment every month....by the end of the year they upped my limit to 3000

Trish56

Is it your own bank that is refusing you the credit card ? Is there a reason why as in your wages/salary goes in and out the same day or that you have gone overdrawn?

Only mentioning the above as it is unusual to be refused a credit card so perhaps ask why you have been refused. Also as mentioned start saving in the credit union and then after 3 months apply for a €500 loan over 12 months and pay it off over 6 months.

Mike3549

I had the same situation years ago. Didnt need a credit cards, didnt like the idea of spending money i dont own, was happy with debit card. Application was rejected cos there were no records of credit. Waited 6months then applied again, delivered papperwork to the bank personally, asked for tiny credit for flight tickets etc. Was approved for 1500.