new card???

markmh

hello all

i wanted to check what people thought was the likelihood of me getting approved for a new card and to clarify a few things.

i currently have one card from tesco which i have had for 4-5 months and currently have £934 on it with a limit of £1000.

come friday this will be down to £650-£600

Im looking at getting the new barclay card with the 12months interest free on purchases.

i have no other loans except a student loan, have no bad credit history and earn £23000.

my questions are

1) do they take into account student loans when assessing people for cards?

2) do they mind if you already have a card?

3) will have £650 on the other card looking bad when they search my record?

i know that the lending criteria is not clear and is different for each card issuer im just looking for general opinions.

thanks

mark

stephane_2

If your balance on your current credit card is going to come down then you need to make sure that your file gets updated first before applying, that will take a few weeks, 6 to 8 weeks. Most lenders prefer to see an establish credit history with running accounts.
If you want to know if you would qualify for a Barclaycard, why don't you try their pre-application check, it will not affect your credit score and they will tell you if you are likely to be accepted for one of their card...

ceh209

1) do they take into account student loans when assessing people for cards?

Not as such, because it doesn't appear on your credit file.

But... if the application asks for income after tax and NI, I would also put it after student loan repayments. I don't know if you legally have to, but since it's basically a tax (i.e. no way of you avoiding it) then I think you _should_