Time for new credit card yet?

beautyqueen88

Hi, i started to get myself some sort of decent credit score in december last year i don't have any bad credit or default's i just had no credit at all as im only 19.
well i got my first credit card from vanquis in january and after maxing it out and paying it off in full every month my credit limit has gradually been increased from £250 to £2000 so my question is what card do people generally apply for next after having a credit building card like vanquis?

also im just about to move house and my mortgage will be starting soon so would now not be a good time to apply for one? i dont want to damage my credit file after building it up.

also when you apply for a new credit card do you cancel your old one?

Thanks

Moggles_2

beautyqueen88 wrote: »

I started to get myself some sort of decent credit score in December last year. I don't have any bad credit or default's I just had no credit at all as I'm only 19. I got my first credit card from Vanquis in January and after maxing it out and paying it off in full every month my credit limit has gradually been increased from £250 to £2000 so my question is what card do people generally apply for next after having a credit building card like vanquis?

Halifax is offering 0% on purchases for 10 months at the mo

http://www.halifax.co.uk/creditcards/allinone_omg.asp?source=14BEF48910D80

Moggles_2

beautyqueen88 wrote: »

I'm just about to move house and my mortgage will be starting soon, so would now not be a good time to apply for one? I don't want to damage my credit file after building it up.

Lenders like stability, so best practice is to apply for credit cards, where possible, before you move/change jobs/change banks

Moggles_2

beautyqueen88 wrote: »

When you apply for a new credit card do you cancel your old one?

Not if you only have two cards on the go and want to continue building your credit history.

You should find it easier to get the cards and credit limits you want, once you have operated your Vanquis card and at least one other credit card for a bit