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  • FIRST POST
    • Crystal_Pixie
    • By Crystal_Pixie 10th Mar 17, 12:23 PM
    • 26Posts
    • 6Thanks
    Crystal_Pixie
    is it best to get a credit card with your bank?
    • #1
    • 10th Mar 17, 12:23 PM
    is it best to get a credit card with your bank? 10th Mar 17 at 12:23 PM
    Quick background, 4 defaults all coming off this year after divorce. I have had a capital one credit card for the past 2 years and used it regularly and paid it off in full every month.


    I have been accepted for an reasonable MBNA card with 4.9% APR for 5 years which is a step forward but with a small credit limit.


    Would it be better to apply for a credit card with the Bank I have my salary and savings with? I don't know if they take into account salary and check to see spending etc?


    My intention is to get rid of the capital one card and have 2 cards - MBNA and a another to rebuild my credit.
Page 1
    • zx81
    • By zx81 10th Mar 17, 12:28 PM
    • 10,770 Posts
    • 10,681 Thanks
    zx81
    • #2
    • 10th Mar 17, 12:28 PM
    • #2
    • 10th Mar 17, 12:28 PM
    It's often easier to get one from your own bank - though generally not the best card available.

    Why are you planning to lose the Cap One card? You'll lose a lot of history.
    • mrmagooooooo
    • By mrmagooooooo 10th Mar 17, 12:50 PM
    • 59 Posts
    • 37 Thanks
    mrmagooooooo
    • #3
    • 10th Mar 17, 12:50 PM
    • #3
    • 10th Mar 17, 12:50 PM
    As ZX81 has pointed out. Keep the Capital one card as that has got history which other lenders will look for.

    Personally i would wait until them defaults fall off your credit file then i see no reason with your Capital One history along with the MNBA card history why you wouldn't get a mainstream card with a decent credit limit (obviously dependent on other factors, income etc.)
    • Crystal_Pixie
    • By Crystal_Pixie 13th Mar 17, 3:32 PM
    • 26 Posts
    • 6 Thanks
    Crystal_Pixie
    • #4
    • 13th Mar 17, 3:32 PM
    • #4
    • 13th Mar 17, 3:32 PM
    Thanks for the replies.


    No I have no plans to apply for another card at this point - just a bit of forward planning for when my defaults come off.


    After 6 years of being a "financial persona non grata" I am very nervous about applying for anything new.


    My concern is that I didn't want to appear to have to much open credit (even if I didn't use it) as I would like to get a new car next year (saving hard for the deposit). So I wondered if it was better to cancel Capital one seeing as I am never going to use it again?
    • zx81
    • By zx81 13th Mar 17, 3:39 PM
    • 10,770 Posts
    • 10,681 Thanks
    zx81
    • #5
    • 13th Mar 17, 3:39 PM
    • #5
    • 13th Mar 17, 3:39 PM
    The best plan would be to keep it and use it, at least occasionally.
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