whats the safest way to build a credit score?

this is a really good question.

if you are 18 with no previous history you will still find it relatively easy to open your first current account, in fact you can often open a limited current account below this age with many banks but they wont allow any credit facilities (a visa debit or maestro card or overdraft) but it will allow you to create what the banks call a "behaviour score" this can be used to often provide the full facilities the day after you turn 18 rather than having to start from scratch at that time.

this will then make it easier to apply for mobile phone contracts or even pay for your car insurance monthly as all these things are credit referenced too!

if you have had a bad/poor history and you are looking to rebuild it, initially it will be difficult but not impossible.

one way is to apply for one of the eye-wateringly high credit cards.

Why?

Well, you open the card, vanquis or capital one (others too) and they might only offer you £100 credit but that doesnt matter. all you need to do is regularly spend small amounts but pay them off straight away so that you dont start building a debt.

this sequence of transactions, payments, maintaining the card provider's rules, will eventually feed into your credit reference and other prospective lenders will be able to see that you can manage your affairs. the fact that you only had £100 available often wont matter as initial credit referencing is done by computer which looks at the feedback on account management. its only when an application is "referred" that a human will then inspect your file in closer detail.

you cannot "buy" a clean credit file so please do not ever be convinced to pay anyone that claims they can erase a bad history or create a good clean one - its not possible within the limits of the law.

the above process of buying on card then paying back will stand you in good stead when larger sums become involved ie loans or mortgages.