How long before I reapply?

headstar

Having paid off all the debt I'm due, I realise my credit history is a shambles!

However, want to start repairing this and so need a credit card to do so! (don't worry, will be using it for small purchases and paying off the balance in full every month)

Should I risk applying now or shall I wait a bit longer? I'm thinking of going for the Capital One card just to get off the ground - I did apply for one last year but they wanted a £250 deposit - hopefully this will have changed but if it hasn't I might still go for it - thoughts?

thanks

Conor_3

Forget it. Getting credit is a BAD THING. I've been 5 years now without the ability to get credit and it's not bothered me one single bit.

bank_of_slate

What can you buy with a credit card that you can't get with a debit card from your existing account and careful budgeting?
...Linda xx

Kevicho

What you want is a good cashback card, use this to buy your shopping and pay off in full every month (as you said)

This will help your rating a lot

Check out

http://www.moneysavingexpert.com/cgi-bin/viewnews.cgi?newsid1087717218,37843,

Kevicho

Just a quick point, you should be ok to get a card now, if you stick to the plan of paying things off straight away then the interest rates on the card wont matter (as you will have paid it off)

Just be careful and dont let temptation get the better of you

headstar

bank_of_slate_and_nazi wrote:

What can you buy with a credit card that you can't get with a debit card from your existing account and careful budgeting?
...Linda xx

it's not really for buying on, but to start to repair my credit rating so that I'm in better standing for when we try and apply for a mortgage

I fully intend to use it say for £10 here and there and make all the payments in full on time or if not, certainly before

donnalove

there is a capitol one card that acts like a credit card but you actually have to put the money onto it it costs about £4.95 a month or you can opt for the £1 per transaction
you also have a one off fee of £9.99 when you first top up.
this card supposingling looks and acts like a credit card difference is you have to put credit on.
it also reports to your credit files

headstar

donnalove wrote:

there is a capitol one card that acts like a credit card but you actually have to put the money onto it it costs about £4.95 a month or you can opt for the £1 per transaction
you also have a one off fee of £9.99 when you first top up.
this card supposingling looks and acts like a credit card difference is you have to put credit on.
it also reports to your credit files

any idea of what it's called?

donnalove

headstar wrote:

any idea of what it's called?

sorry its not by capitol one my mistake.
it is called a cashplus prepaid credit card it looks and acts like a mastercard

have a google on "cashplus" where you can find out more info

headstar

Grrrr

Got my rejection letters through from Capital One and MBNA yesterday - didn;t even get the option of the secured card from Capital One - I give up, I really do

Is it worth appealing or should I leave it for a few months?

JAMIEDODGER

have you checked your credit rating to see if all that you have paid off, shows as settled? if it does i would say leave it another 6 months and re apply

JD xx