Your first loan with no credit history
Having no credit history is not the same as bad credit — lenders simply have less to go on. They lean more on your income and bank statements, and often start you with a smaller amount. Repaying a first small loan or store account on time builds a record that unlocks better rates later.
What lenders check
- Stable income and employment
- Clean bank statements (no bounced debit orders)
- Affordability
Documents you'll need
- Green barcoded ID or smart ID card
- Latest 3 months' bank statements
- Latest payslip (if employed)
- Proof of address not older than 3 months
Watch out for
- Start small — a lower first amount is easier to get and to repay.
- Missing even one payment on your first account hurts your new score.
- Avoid applying at many lenders at once.
How do I start building credit?
A small store account or cellphone contract paid on time is a common first step.
How long before I have a credit score?
Usually a few months after your first account is reported to the bureaus.
Will my bank lend to me first?
Your own bank can see your salary history, which often helps first-time borrowers.
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