Chances of getting a low limit credit card?

OverlyAnxious

Purrrrrrr said:

OverlyAnxious said:

I've never had a credit card but have an excellent credit score.  Currently 993 out of 999.  I know it's not the same as the rating the banks can see, but must be a fairly good indication?

I can't imagine ever being able to mortgage a property on benefits myself.  Had enough trouble trying to rent a place since being on benefits.  I do keep an eye out for forum threads about mortgages on benefits but haven't seen many so far.

How did you get good credit without getting credit?   Or did you get other types of credit?  I've always saved up and paid cash for everything.   Im not sure  if you could get a mortgage  on benefits but I expect if you lived in a place with right to buy and you had a very good discount  then its very possible,   

I really don't know where the score came from.  I'm trying to find out as I keep hearing about the need for a credit card to boost a credit rating, which just hasn't been my experience at all. 

I've never had any credit that I know of, no loans, no overdraft, not even a mobile phone contract.  I do pay a few bills via monthly direct debit if that counts.

2oldcodgers

As a matter of interest I have just checked my credit rating through MoneySuperMarket and it has come back as 607 out of 710 saying my report is excellent!!
No idea why

WelshBlue

Credit scores/ ratings don't really matter in the grand scheme of credit - lenders go on past credit/ loans and payment of that credit/ loans.  A higher rating usually means you'll be accepted for lower interest rates

'Credit Ratings' just show what money you owe on accounts and any defaults on payments, a high score doesn't mean you'll be accepted, especially if there's a lot of accounts open with high amounts owing

Paradoxially having a credit card and not using it runs the risk of having the card stopped/ limit reduced which could affect obtaining future credit.

Used correctly credit is a good way of getting something ... very expensive way if not used correctly

poppy123456

Totally agree that credit scores mean nothing, it's your history they look at.

2oldcodgers

Purrrrrrr said:

2oldcodgers said:

As a matter of interest I have just checked my credit rating through MoneySuperMarket and it has come back as 607 out of 710 saying my report is excellent!!
No idea why

Mine was like that as well but I once tried to get something on credit at PC World and failed the credit check.  Due to not having previous credit 

Wierd if you ask me.
Thankfully I have never had the need to want to borrow. Even our home was funded by a previous sale. Everything else comes/came out of income.