Help!

typeractive

Hi all,

I thought I'd take the plunge and apply for a credit card to help me finance my home efforts. I've always been a good saver and never missed a payment for anything (that I can think of). I read a load of info about the credit cards on the main site. I only plan to spread the costs so I can retain some of my savings for longer. I want a 0% deal. Fear not I will pay it all off before the end of the card.

So I did a check yesterday. I got an 'excellent' result, which I was pleased about. So I then applied for an M&S card. I've just had an email saying I have been rejected, which is really annoying . Perhaps this is because I'm not worth that much to them - unlikely to rack up a lot of debt that they can profit on?

I went back into my details and the only thing I could see as being incorrect was my main current account not being listed on the check info (this is where my salary and outgoings all happen) the other accounts I have are to gain access to savings and isa accounts etc.

Could this be the reason I was rejected? Should I apply for a card with my main current a/c (Barclays - who I don't think have the best deals).

The more checks ran against me, I have read from Martin as being potentially bad!

Any suggestions and advice please?
:beer:

PNPSUKNET

barclay card will show as pre-approved online if you are, you need to get a card first before 0% cards will be open.

typeractive

PNPSUKNET wrote: »

barclay card will show as pre-approved online if you are, you need to get a card first before 0% cards will be open.

So I should get a barclaycard (which I have just been online and as you say pre approved - so that sounds ok.) Then start using it and build up a better rating? How long should I give it until I apply for 'better' cards?

Thanks!:j

ironlady2022

You need to build a credit rating up first. How big a limit are you after? If you haven't had credit in a long time, they will not give you a high limit.

typeractive

Thanks. I've just applied through Barclays for a 0% card. Looks like it went through ok. I could do with a few grand to cover some semi big purchases, and paying off chunks each month (above the minimum rate). I'd rather do that than use all my cash and have to save up over time - I just think it will soften the blow - as long as I'm ultra careful.

We'll see what limit comes through. I'm going to start using it for all online purchases etc and pay off asap to build up my rating.

Cheers