Advice needed re Capital One

BodieGirl

Hey guys
I have been lurking for ages on moneysaving, and by following tips have managed to pay off a £1300 debt to Next in three months yay!

Now, I have a remaining debt of £1900 on my Halifax credit card. I was planning to hit it hard over the next few months like I did with Next, but my mum has lost her job and I am going to be helping her out with about £200 per month for the next few months at the very least.

So, I decided to try and balance transfer to a 0% deal. I was the victim of fraud last year and although the frauds have been removed, my credit rating isnt the best so last week I applied for a Capital One classic card, which I was instantly accepted for. The idea of this card is to give me some credit for emergencies this yr as i am going to cut up the Halifax one. I have received the pin but not the card yet, so dont know the limit.

I still need to balance transfer Halifax, so have just submitted another application to Capital One balance as i dont think I will be accepted by a better card. I am a bit sleep deprived and dont know if this was a good idea. I got three green ticks and a message saying someone in the team will look into it within 7 days.

With the other card I was accepted instantly; will they cancel the first one now because I applied for another? Or will I just be refused the Balance card? Also, I asked for 1900 BT and just realised the max is 1500.

Any advice greatly appreciated! Until last yr my credit was great and I could virtually be guaranteed anything on credit but not so sure now.

Kind regards, Bodiegirl

molerat

I doubt the second app will be accepted and may well negatively affect the first account limits, very few if any cc companies will allow more than one card and 2 apps could look dodgy or even fraudulent.

BodieGirl

anyone else have any suggestions?

do you think I should contact them to explain? I dont want the first application to be denied.

Worrying now

BodieGirl

update - telephoned Capital One who advised me to cancel the 2nd application as it was unlikely to be approved because I need to hold one card for at least 6 months before applying for another one.

Lady said this will look better on credit file as it will show only one application instead of two

First application has been approved! Credit limit of £500 should have card next week

justcat

I recommend the Barclaycard Gold CC for BT as it has 0% for 12 months. I managed to get this when my previous 2 CCs were Vanquis and Capital One.
I have since been able to transfer both balances to the new card as they gave me a £2300 limit. Now I can cancel the old high interest cards!

BTW, well done on clearing your Next account so quickly!

BodieGirl

Hey justcat

Thanks for the response.

Im guilty of overspending and living beyond my means. Also, my mum and sister are financially a lot worse off, so I help out whenever i can with car insurance, shopping, days out and little treats etc.

Im not sure whether I would be accepted for any other card at present? The Capital One application is now just counting for one so in theory I have had a successful application, but I wonder if it would be pushing my luck? Then again, if Im refused I will simply have to pay the interest to Halifax until I clear it. Losing 200 odd quid a month isnt the end of the world, Im still committed to trying to clear all my debt if I can at the same time, even if it takes a bit longer.

What do you think?