Is having a second 0% CC bad in my situation?

Eoin_McLove

Hi,

I leave university this August, and go straight into a job as a trainee chartered accountant in Tunbridge Wells. My budget for next year leaves me on £37 per week after all necessary expenses, so I'm thinking of getting a second credit card with 0% on purchases (Sainsbury's seems good: 0% on purchases for ten months), with which I'll buy food, thereby freeing up a bit of cash to spend on things for me.

My concern is that I already have an Egg Card (on which I've transferred £1,000 of my £2,000 overdraft before I start getting charged interest next month), and that having another credit card will affect my ability to get credit in the future. This is exacerbated because in August I will be applying for an £8,000 loan with Northern Rock, which I'm using to pay off my expensive £8,000 Barclays Career Development Loan (used to fund my Masters degree this year).

So, as it is, I have an Egg Card, a Mastercard (don't use it though!), and will soon have an £8,000 loan. Also, in mid-November, I will have to do a (£1,000) balance transfer from my Egg Card to another 0% card because the introductory 0% rate ends in December. So, would getting, say, the Sainsbury's 0% card to pay for my food throughout the year, in addition to another 0% card in mid-November to replace my Egg Card, be acceptable? I have no problem making the payments; it's just having multiple cards that concerns me, particularly since I intend to get a mortgage on the go with my girlfriend around September 2007.

Thanks for your help and advice. :beer: