Too soon for second card?

Oneiros

Hi, guys,

I've had a HSBC credit card since mid Feb of this year with a £2k limit. It's my first credit card, there is currently no balance on it but I always use it where possible and pay it off in full each month. I do bank with HSBC, also.

I'm now wanting to make a couple of purchases so am looking for a new card with a similar limit and good offer on new purchases. I thought M&S. I understand that it is also a HSBC card, not sure if that's relevant?

I did apply for a few cards before I was successful with HSBC so would like to minimise the chances of another declined credit mark on my record, especially since finally getting credit.

On the face of it, what are my chances of being accepted? I understand that no one can give any guarentees but any advice would be appreciated. Thanks.

izools

If it's your first credit card you'll want it to be open for a bare minimum of 12-18 months before trying to get another mainstream card. It hasn't been nearly long enough yet

Oneiros

Boo Guess I'll have to be sensible then. Thanks for the reply :cool2:

jalexa

Oneiros wrote: »

would like to minimise the chances of another declined credit mark on my record, especially since finally getting credit.

On a "technical" point, "declines" are not recorded in your Credit Reference Agency files, only "searches". A "search" resulting in a "decline" is indistinguishable from a "search" resulting in an acceptance.

While I think the earlier reply is sound advice, the immediate downside of a further single application, "declined" or otherwise, is only a single "search" on your file. You may decide to make up your own mind on that.

Given that the last credit limit was £2k, *if* you are successful you may be disappointed with the credit limit offered.

Up to you really.

Oneiros

jalexa wrote: »

On a "technical" point, "declines" are not recorded in your Credit Reference Agency files, only "searches". A "search" resulting in a "decline" is indistinguishable from a "search" resulting in an acceptance.

I didn't know that, I'd always assumed the result of the search was logged as well. Good to know, thanks.