We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Captial One World MasterCard
RollDeep
Posts: 37 Forumite
I've had my Lloyds TSB airmiles credit card for over 18 months now, but I don't seem to really benefit from it. Capital One's World MasterCard cash back card seems to be the only worthwhile alternative, as I don't want to go with Santander and not every shop accepts American Express.
Before I apply though, I have a few questions;-
1. Does anyone know how likely it is for my application to be accepted? I don't want to burden my credit report unnecessarily!
Their website states some guidance;-
• You've had credit cards in the past - 18 months
• You're aged 21 or over - 23
• You're a home owner - NO
• You have an income of more than £20,000 p.a. - YES
It also says it’s for people with perfect credit history, my Experian report is currently showing 999 (payment always in full and never missed with 0 searches).
2. When I apply, do I have to state how much credit I'd like or do they get back to me with what they are prepared to offer?
3. Would it be beneficial to cancel my existing Lloyds credit card with a £2,600 limit before hand? I dont want to cancel it and then find out I've failed with Captial One, but then I don't want it limiting my credit limit.
Thanks in advance guys!
Before I apply though, I have a few questions;-
1. Does anyone know how likely it is for my application to be accepted? I don't want to burden my credit report unnecessarily!
Their website states some guidance;-
• You've had credit cards in the past - 18 months
• You're aged 21 or over - 23
• You're a home owner - NO
• You have an income of more than £20,000 p.a. - YES
It also says it’s for people with perfect credit history, my Experian report is currently showing 999 (payment always in full and never missed with 0 searches).
2. When I apply, do I have to state how much credit I'd like or do they get back to me with what they are prepared to offer?
3. Would it be beneficial to cancel my existing Lloyds credit card with a £2,600 limit before hand? I dont want to cancel it and then find out I've failed with Captial One, but then I don't want it limiting my credit limit.
Thanks in advance guys!
0
Comments
-
-
If you have an Orange phone, the Orange Credit Card is effectively 1% cashback and might be easier to get as it's run by Barclaycard.
Capital One state they want homeowners, they were also the stingiest with my credit limit.0 -
18 months credit history mightn't be enough either, being their top tiered card I'd expect them to look for 3-6+ years of history with similar accounts (cards / loans / store accounts / etc) on your credit file.
You can of course, apply to see what happens. One search in a year won't make a blind bit of difference to your creditworthiness
Cashback Earned ¦ Nectar Points £68 ¦ Natoinwide Select £62 ¦ Aqua Reward £100 ¦ Amex Platinum £48
0 -
Hmm, if thats the case then I may give it a miss. At least I get a little something with my airmiles card.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.2K Banking & Borrowing
- 253.6K Reduce Debt & Boost Income
- 454.3K Spending & Discounts
- 245.2K Work, Benefits & Business
- 600.9K Mortgages, Homes & Bills
- 177.5K Life & Family
- 259.1K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards