Focus on your budget before your score

Most consumer credit agreements require you to be at least 18. Being old enough to apply does not mean you will be accepted, or that borrowing is affordable.

Before applying, work out what you could repay from reliable income after essential spending. A credit limit is not extra income.

Sources:MoneyHelper: credit scores and reports

Understand what you are agreeing to

  • Check interest rates, fees and what happens after promotional periods.
  • Know the payment due date and the minimum payment.
  • Do not assume every buy-now-pay-later service reports the same way; check the provider’s current terms.
  • Avoid making several applications close together.
Sources:MoneyHelper: credit scores and reports

Your address can matter

Register to vote if you are eligible and keep address information up to date. Voting registration rules depend on where you live and your nationality; registration may be possible before you turn 18.

If you move between home and student accommodation, check that your accounts reflect the correct address and that you can receive important letters.

Sources:GOV.UK: register to vote