Tesco CC

nikkijj_2

Hi

I would like to apply for a tesco credit card, I have a next account and a capital one account (cc) that I have been running with no late payments etcetc since June this year.

I also have a Barclaycard platinum that I have been running since January 2009 but I had one late payment in September which have been told will be reported to the CRA.

To get a better chance of getting this card when is the best time to look into applying for it ..

Many Thanks :rotfl::rotfl:

michael1983l

If you have a late payment within 3 months your are unlikely to get accepted for any prime CC

nikkijj_2

Hi

So bearing in fact that I have been running my accounts for a year, Are you saying that leave it until Jan 2010 before applying again or should I better still leave it longer..

Many Thanks:beer:

michael1983l

nikkijj wrote: »

Hi

So bearing in fact that I have been running my accounts for a year, Are you saying that leave it until Jan 2010 before applying again or should I better still leave it longer..

Many Thanks:beer:

The further away a late payment is the more likely you are to be accepted but within 3 months is a no no for decent companies. If it is a one off and the rest of your record is spotless and you have enough desposable income to cover further debt then you might get it next time your credit file is updated and your payment falls outside 3 months. But every case is different.

nikkijj_2

Sorry to be a pest, How do you work out your disposable income..

Thanks:beer:

michael1983l

The banks will evaluate your current liabilities

Rent/Mortgage
Council tax
Loans
creditcards/store cards
reasonable sum for living costs


They will then offset this with your available monthly income and anything that is left over is disposable income.

Creditors usually look for a person using less than 75% of credit available to them e.g. if your credit card limit is 1000 they expect you to be not over 750 balance, however that is worked out combined with all credit facilities so you can use 100% of 1 card and 0 % of another and be at 50% if both limits were the same.

Secondly they like the person to not have credit exceeding 50% of their annual income disregarding mortgages.

cifpower

nikkijj wrote: »

Sorry to be a pest, How do you work out your disposable income..

Thanks:beer:

Income minus rent/mortgage and bills