Can't Decide what Card to get!

SpacemanSpiff

Hi.

I am not sure what card to get I have an Excellent credit history (999 on Experian) and my current card is having it's interest increased to 19.9%. So I am going to move. I will also be moving the existing £1,500 balance across so that I only have one card.

Now, do you think it's better to get one card with a low APR. I was thinking of the Capital One OneRate card or the Halifax Clarity Card, and if so which one is better? (I am mostly asking if there are famous 'problems' with either of these providers which I should be aware of).

Or do you think it's better to get a card with 0% balance transfer and purchases for x number of months with a view to switch to a lower APR card when they run out?

YorkshireBoy

SpacemanSpiff wrote: »

I have an Excellent credit history (999 on Experian)

Means nothing I'm afraid, so don't waste any more money on these worthless and meaningless numbers. All it shows is that you pay your bills on time!

and my current card is having it's interest increased to 19.9%.

Assuming it's not moving because you've come to the end of a 0% offer, why not opt out and retain the old rate (means you can't use it for any new transactions though)?

Now, do you think it's better to get one card with a low APR. I was thinking of the Capital One OneRate card or the Halifax Clarity Card, and if so which one is better? (I am mostly asking if there are famous 'problems' with either of these providers which I should be aware of).

Or do you think it's better to get a card with 0% balance transfer and purchases for x number of months with a view to switch to a lower APR card when they run out?

Entirely depends on how long you need to repay the debt, and whether you intend making any more purchases on it.

SpacemanSpiff

YorkshireBoy wrote: »

Means nothing I'm afraid, so don't waste any more money on these worthless and meaningless numbers. All it shows is that you pay your bills on time!

Ok, So How can I know if I have a good credit history or not. Both those low APR cards ask for a 'very good credit history'.

Thanks for the answer btw.

YorkshireBoy

SpacemanSpiff wrote: »

Ok, So How can I know if I have a good credit history or not. Both those low APR cards ask for a 'very good credit history'.

Capital One define a "very good credit history" on their website. How do you compare to that?

SpacemanSpiff

YorkshireBoy wrote: »

Capital One define a "very good credit history" on their website. How do you compare to that?

Everything apart from owning my own home.

izools

The One Rate and Clarity have differing benefits.

The OneRate has a lower standard APR, so if all you want to do with the card is transfer the balance and not spend this would be better.

The Clarity however offers cashback on balance transfers and no overseas usage fees.

What do you intend to use your next card for?

SpacemanSpiff

izools wrote: »

The One Rate and Clarity have differing benefits.

The OneRate has a lower standard APR, so if all you want to do with the card is transfer the balance and not spend this would be better.

The Clarity however offers cashback on balance transfers and no overseas usage fees.

What do you intend to use your next card for?

Hi, Thanks for the answer.

I only want to manage one card at the time so I would transfer balance. However I will also use it for purchases. I tend to make all non-critical purchases on the card and then transfer the amount spent from my current account at the end of the month.

PNPSUKNET

Whats your current cards limit/ debt..

izools

I would in that case suggest the One Rate or Co-Operative Platinum Fixed Rate

Both offer a 9.9% APR on transfers and purchases which should suit your use / spending habits well.

Both are quite strict though good luck with the applications :beer:

EDIT: Is your current card a Barclaycard?

If not, put your details in here:

https://letmechoose.barclaycard.co.uk/

Does it offer you the "Simplicity"?

SpacemanSpiff

izools wrote: »

I would in that case suggest the One Rate or Co-Operative Platinum Fixed Rate

Both offer a 9.9% APR on transfers and purchases which should suit your use / spending habits well.

Both are quite strict though good luck with the applications :beer:

EDIT: Is your current card a Barclaycard?

If not, put your details in here:



Does it offer you the "Simplicity"?

I do have a Barclaycard. I wanted that Simplicity card for a while but alas impossible, they won't switch people who are already on the card.

I went for the Capital One 'One Rate' card. I passed the initial checks, it was online and went in three stages; Confirming Form, Confirming Personal Details, and Credit Check. I passed all three but it then said 'Our staff will make additional checks' and get back to me in 7 days. Not sure what else they will do!.

Cheers for the answers :beer:

izools

This means the credit check resulted in a "Marginal" score so your application has been referred to an underwriter to manually review your circumstances and credit file.

They will therefore make a human decision. Capital One are typically rather quick so if you call them on Tuesday / Wednesday they should say whether it's yes or no along with your credit limit.

Good luck! :beer: