Lloyds Credit card...

paulmcerlean

I have just opened a Lloyds current account and have been given a £1000 overdraft facility. I want to run this account as my main account, (salary circa £2000 a month) + direct debits etc... coming out of it.

I would like to get a Lloyds credit card also - when should I apply and how should I run the account in order to get acceptance? Use the overdraft and repay? Dont ever use it?!

Thank you in advance.

PNPSUKNET

With all new accounts, best to give it 6 months

jonesMUFCforever

If you had been eligible for a credit card it would have been sold to you ---believe me!

akhan39

In order to be successful in your application for a credit card you need to at least run the account for 6 months with a mandated salary.Try not to use your overdraft facility and maintain the account in credit for the whole six months.Next time you pop in to your local branch monitor your risk band just ask anyone at the tellers position.

jonesMUFCforever

akhan39 wrote: »

In order to be successful in your application for a credit card you need to at least run the account for 6 months with a mandated salary.Try not to use your overdraft facility and maintain the account in credit for the whole six months.Next time you pop in to your local branch monitor your risk band just ask anyone at the tellers position.

Totally untrue!
If your credit score merits it you will be offered a credit card at account opening.

Moggles_2

I would like to get a Lloyds credit card also. When should I apply and how should I run the account in order to get acceptance?

May I ask which credit card(s) you have at the mo?

Use the overdraft and repay? Don't ever use it?

I wouldn't dip into your overdraft.

As you know, overdrafts are repayable on demand. Credit card debt, on the other hand, isn't. LloydsTSB and other potential lenders will pay more attention to overdraft balances, because it's known that a similar level of debt on credit cards only requires a 2% to 3% minimum monthly payment and cannot be called in.

For tips to improve your chances of acceptance, have a look at the *Credit Rating: how it works and how to improve it guide*, especially Martin's *Manage and Improve your credit score* article

http://www.moneysavingexpert.com/banking/credit-rating-credit-score#improve

MrTomato

I don't even think you need to have a high salary/in lots of credit all the time. I managed a credit card from them with a very low monthly deposit.

paulmcerlean

I applied online for the account, so surely they would not have offered me a card? I have not been to a branch yet?

Thanks for the tips folks!

P.

cosmic_girl

I ran my current account for about 4/5 months and one day when logging into internet banking, in the credit card section, a note was at the top of the page that I was eligible for a card with a credit limit of ££££. The staff in branch would be able to keep u updated too though x

quackers82

Log into your online account. Click apply for credit card, it should list the 4 cards they do. At the very top, does it say somthing like "you might be eligable for a credit card with a limit of £XXXX" ?

Mine did, applied, showed on my online account next day with the limit it said i might be eligable for.

My friends who got declined did not have that sentence at the top.

paulmcerlean

Thanks for the good replies guys!