Best Credit Card To Apply for after clearing bad debt

weetoonhunter

Hi folks

In June of this year I will have finally cleared my last bit of bad debt (CCJ) after 6 long years. I have the infamous Vanquis Credit card doing the 69.9 % apr. hellish.

I would like to try applying for a new card asap with a better apr. Is this wise after just clearing debt or should I take the go for it approach.

Thanks In Advance

WTH

Zaki

well i think its better to apply one credit card with poor/fair rating first. See if you are successful in that and if you get interest rate below 35%.

If one is successful you can apply second with better rating (more likely between 15-19%)

if both cards are successful, wait for 6 months and go for the best ones in your mind. You can close your account for poor rating card after you obtain two or three good rating cards first. As far as i know you are more likely to be approved if you already posses 1 or more credit cards.

izools

You could also put your details in here to see where you stand:

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

They do an unrecorded enquiry on your Equifax report (which doesn't affect your score) to see what cards you might be eligible for.

A good way to see where an actual creditor thinks you stand.