Applied for the wrong card!!!

lentrott

I recently applied for a Sainsburys Card which I misread as being 0% for 10 months on purchases AND balance transfers! However upon recieving the papers to sign this morning I noticed my mistake and note that the card is 0% for purchases only!

As a Natwest current account holder their 9 month 0% card would be better for me! Would not completing the application for the Sainsburys card and applying for the Natwest one be detrimental to my credit score? For info i've held 7 different cards over the last 4 or so years and as far as i'm aware have an unblemished credit history.

Any opinions would be gratefully recieved!

file_wizzard

Generally 2-3 applications a month are o.k, any more than this and it may be detrimental to the way an application is "scored"

lentrott

I assume the credit check is made at the initial application? If so had I might as well continue with the Sainsburys app as well as apply for the Natwest card?

raptorz

The credit check is made at the beginning. The only way it could benefit you by not going through with it is that the total credit available to you would be lower than if you accepted it. That means you are more attractive to other credit companies. It all depends how much you already have available on credit and your anual income.

YorkshireBoy

Something else to bear in mind...

If you've had the Sainsbury's (HBOS) search recorded, yet there is no subsequent history recorded, then future providers *could* think that you were "declined" rather than you yourself deciding not to take up the offer of their card.

If a 0% BT is crucial, and if your credit history will stand it, I'd apply for the NatWest card as well. If you then get a referral/decline you can always offer to cancel the Sainsbury's card.

Finally, I'm not sure what your logic was in applying for the Sainsbury's card when you could have had fee-free BT's with your own current account provided card - inless you were simply chasing the extra month? Even if the Sainsbury's card was 0% on BT's as well, HBOS are applying 2% uncapped BT fees now.

I know I don't need to say this to *you* now, but to help others I'll say it anyway - you really must thoroughly read and understand a cards features and T&C's before committing yourself to an application and subsequent credit search.