Need advise to choose the best credit card

alwaysfree143

well I am a new home owner having purchased a property this month. My credit rating is poor but still the bank accepted mortgage offer due to the fact that my oldest account is 6 years and 4 months old. There has been couple of mobile contracts from my accounts and the payments has been made on time.

Only problem that i notice in my account is i have not registered for electoral voting in my life. Now since I have purchased a new property i would hopefully be registering within a day or two. Last year when i tried to apply for credit cards i was refused for any good credit card but accepted for Barclays Card and Capital One classic card of poor ratings. Barlcays gave me a credit limit of £2000 and Capital one provided only £100.

Now i am thinking since my circumstances has changed i might qualify for better credit card in future. Equifax suggests my credit rating is only 316 but it also shows everything to be excellent except electoral voting. There was only one late payment in my account that is for barclays who cancelled direct debit without my instructions and refused to pay to the barclay card and over the phone when i was arguing with them, they just set up direct debit once again but the footprint for late payment remains on my credit history.

I am 23 years old and self employed. Any suggestions please?

jon_boy75

get on the electoral roll, check your file to confirm you're on there and apply for only 1 or 2 cards and see what happens

alwaysfree143

jon_boy75 wrote: »

get on the electoral roll, check your file to confirm you're on there and apply for only 1 or 2 cards and see what happens

thanks for your reply sir,

i think you are right but is credit rating the only criteria for banks to issue a credit card? sorry i do not know much about credit cards

My rating is poor but other than that everything seems excellent + 1 fair in my credit report.

How long does it take for credit agencies to determine that I am on the electoral voting now? can i contact my credit agencies to re-asses my case/report based upon new circumstances?

My job employment is also confusing since i am a forex trader and earn roughly £30,000 per year but the tax is not fully paid because of the nature of my business. Sometimes i make money next day i might lose part of it. But that was acceptable by my bank for mortgage though

I just need credit card for security reasons so just in case i need quick money to pay the mortgage i have alternative sources available.... just in case

Tixy

The electoral roll is updated monthly, and it can take a couple of weeks more for it to update at the credit reference agencies. Best way to be sure is to apply to your council to be put on it, wait a month or so and then check your credit file to see that you are listed (as mistakes do happen).

Your credit file is only one of the items potential lenders will consider, they will also look at you employment, your income, your existing debts, your existing available credit etc etc.

alwaysfree143

wow I can't believe my credit card is approved. I applied for Halifax all in one credit card yesterday and was hoping for it to be rejected

Today one manager called me while i was sleeping and he asked me couple of quick questions. After that he said my request has been accepted and he is going to send me a form that i need to sign and send it back to him

still can't believe i have been approved for anything but the poor history credit cards lol

Just one more question please. Are we allowed to keep more than 1 credit card for the same bank? I mean i have one poor history card from barclays but i suppose my offer for better card can now be accepted after the current circumstances. Is it possible i can apply for better card from barclays or capital one or will i have to cancel my existing card first before applying for new one?

Venusflytrap

alwaysfree143 wrote: »

Are we allowed to keep more than 1 credit card for the same bank? I mean i have one poor history card from barclays but i suppose my offer for better card can now be accepted after the current circumstances. Is it possible i can apply for better card from barclays or capital one or will i have to cancel my existing card first before applying for new one?

You will need to cancel your existing Barclaycard, wait at least 6 months and reapply.