GE Money Card

magni

I got a letter from this company saying that I had been pre-approved for a credit card with them. Does this mean they won't do a credit check? I have 3 other cards with them (Mothercare, Debenhams and Dorothy Perkins) all with £0 balance on them. Any time I have used these cards I ahve always paid in full or 2 months max. They are offering 0% for 9months and thought it miaght be worthwhile to help cut down my credit card debt.

Angie8

No, they will always do a credit check if you apply for a new card. They cannot know your current credit situation without checking first.

I get at least 3 pre-approved offers every week and AFAIK they are just sent out to anyone and everyone.

Bokken_2

It may be preapproved but they will still do a credit check.
If your other cards have £0 on then cut them up as the Interest rates at too high.
If you need a card for purchases try for a 0% card.

http://www.sainsburysbank.co.uk/credit_cards/cca_creditcards_zone.shtml

have a look at sainsburys link. there are others of course, there is a Providers A-Z list on the left.
If you post the details of the GE card I am sure there will be others along soon to help you decide.

Angie8

Bokken wrote:

If your other cards have £0 on then cut them up as the Interest rates at too high.

Just a quick point here, make sure you ring up and cancel them as well, as they will sit on your credit file as open accounts and impact your credit score.

Bokken_2

Angie8 wrote:

Just a quick point here, make sure you ring up and cancel them as well, as they will sit on your credit file as open accounts and impact your credit score.

I did not mention it but personally I always phone up and confirm a cancelled card or account.Give then a few days and then phone.