Application for Credit Card

Ricardo_The_Hodgey

Hello, I am a former debtor of MBNA. I (eventually) settled my debt some 3 years ago and would very much like to rebuild my credit rating. Now apparently one of the ways to do this is by getting a credit card, which could prove, um, problematic.

So what I would very much like to know is is it feasible to expect a credit card? Who should I target my application at? Any other advice?

Karma67

Morning!

Your best option would be to try the cards targeted at people with poor credit ratings which tend to be more lenient with lending BUT charge a higher APR (usually 29.9%) and lower credit limits...£200-£500

You could try Capital One, Barclaycard Intial, Aqua card or Vanquis (tho they charge up to 49.9% APR)

Cap One may ask for a security deposit...ranges from £49-£200, but this is returned to you when you close the account/card.

The best way to build up a better credit history is to get a card, spend a small amount each month on it and pay it off in FULL..then no interest is charged.

HTH

vwman_3

I think most of the wise head's on here would advise Capital One/Barclaycard Initial, but then you have the likes of Vanquis with a big APR as a very last resort.
Which ever one you go for pay it off on time and in full each month to avoid the dreaded interest.
Good luck