Monzo competitor that offers credit cards? (or other way to build credit history)


(Andre Borie) #1

Hello,

I am looking to build my credit history and I’d like to know if there are any Monzo-like companies that offer credit cards. By Monzo like I mean good UX, modern tech stack, entirely online and with a good customer service (basically the opposite of any legacy bank).

Or if you know other ways to build up a credit history that would be cool as well. The two that I know of - having a phone plan and being on the electoral roll are both out of the question (I do not wish to switch phone providers and my current one doesn’t report to CRAs and I’m a foreigner so I can’t vote)

Regards. :slight_smile:


( related to Monzo CEO, Investor in Monzo ) #2

as an EU citizen (? ) you can register on the electoral roll to vote in local and EU elections


(Sacha) #3

Try signing up for one of the free credit rating offerings such as Clearscore or Noddle. They will give you a projected credit rating each month for free, and provide tips on how you can improve your rating.


(Pavel Kirjanas) #4

You can sign up to vote, you won’t be able to vote in all elections though, but you’ll be on the electoral roll.

It doesn’t have to be a phone company, it can be any company that you have a direct debit agreement with and that reports to credit score companies. E.g. utilities.

Get an easy to get credit card, e.g. CapitalOne and/or Aqua. They are far from being as tech as Monzo though.


(Bob) #5

Having an authorised overdraft (even if you don’t use it) will improve your credit score.


(Andre Borie) #6

Just got accepted for CapitalOne, so I guess I’ll be using this every so often and my credit should start going up. :smile:


(Sy) #7

it depends on your nationality. with certain nationalities you can sign up but with certain nationalities you can not.


(Toby Toller) #8

Having your name on Council Tax and Utilities bills, even if you are not the one paying them helps - as long as whoever is the bill payer pays on time!


#9

Councils tend not to report to CRAs unless you stop paying it which makes your credit score worse. Same for utility companies.

I’ve only ever seen my mobile phone provider on my credit report. Never seen Thames Water/Affinity Water/Eon/Npower/British Gas/EDF on there.


#10

I already have done credit history, but I went with a Nuba everyday credit card (https://www.nubacards.co.uk), run by MBNA.
0% on everything for up to 28 months. The app is just the MBNA app with a theme, has everything you need, no bells and whistles.

BUT most importantly, the bright lime green card compliments my hot coral Monzo card! My wallet is now twice as bright.


(Adam) #11

British Gas do appear on your report :eyes:


#12

Perhaps it depends on what type of tariff/contract you have with them. They’ve certainly never been on my, having been a customer at three different periods.


(Sy) #13

I assume the overdraft at Starling could be used for credit building