Card application - Additional cardholder?

missdrexie

I have had the same goldfish credit card for 10+ years and always paid off the balance in full. Now can't and going to go for a 0% deal, with mint as they are offering 0% on purchases too. Is it better to apply in one name only then add additional cardholder later, or just apply with both names straightaway? I don't know what difference this makes to the likely limit we would get, so want to apply whichever way will be beneficial. Neither of us have had bad credit before. Any advice appreciated.

Bokken_2

I would apply seperately .
In my experience the credit limits are roughly the same.
I prefer it this way as it allows for more flexiblity with the outstanding balances that you have,whether your stoozing the money or just moving it between accounts for the purpose of keeping it at 0%.
It can get a little complex with six or more accounts being run at the same time with logging on passcodes,PIN numbers etc so establish a easy accounting system in a book so you can glance at it and see where your money is.
There are some pitfalls in applying for too much credit in a short period of time may get you turned down and there are some BT fees to watchout for.
Best read up on Martins credit card articles so you are aware of whats happening and which cards to apply for.
You can apply for a additional cardholder later if you wish ,but why not each have seperate cards.Try and select your cards to do what you want them for rather than have one card for everything this is how they make money from us and the interest is then charged to your account.
If you separate the cards into purchase,cashback for everyday spending and one for Balance Transfers that should cover most situations,again Martin explains it so much better than I do so read his articles but you get the idea..
Does that help?

missdrexie

We started out with one card and just got a name added on for simplicity. But I can see the logic and flexibilty of having our own separate cards, thanks.
One question tho - you mention pitfalls of applications in short space of time, would it be best to space applications for him and me? Or does it only affect each person?

Bokken_2

budacina wrote:

We started out with one card and just got a name added on for simplicity. But I can see the logic and flexibilty of having our own separate cards, thanks.
One question tho - you mention pitfalls of applications in short space of time, would it be best to space applications for him and me? Or does it only affect each person?

Both of you will be registered to the same address and in some cases the credit reports are linked and show each others applications.
Have a look at the experian web page and check you credit score etc .It is free for 30 days after that you pay so cancel at around 28days.
The reports are reasonably details and take time to understand them and you will have a better idea what you are doing and how your score is affected by your actions.
Everyones circumstances are different,empolyment status ,home owner,credit history etc.If yours is alright Experian will have you rated at Good and a high score in the 850-1000 range if this is the case you should both be able to apply for a card each month without any problems .Take time to plan your application/cards as each generates a search and damages /reduces your score.
Have a read through Martins articles and familiarise yourself with the credit card shuffle etc and try to avoid any fees.