Will I be accepted for a 0% card (again)?

19lottie82

My car insurance is due for renewal next month. I plan on doing what I always do, getting a 0% CC and setting up a DD to pay off the balance over the 12 months. This makes sense to me, rather than paying the insurer monthly, at an increased cost than a lump sum payment.

Anyway, my question is this…. I had a Tesco CC which I used then cancelled about a year ago. It was @ 0% for a year then I carried on using it and paid interest on it for about another 6 months. I think my monthly payment was late once, as it simply slipped my mind (stupid I know!) but apart from that it was all fine and dandy. So, do you think they will give me another card with the 0% apr rate that they are offering at the moment? Or will they turn me down, as I took up this offer a few years ago?

I currently have a loan with Tesco Bank, the payments have been made, without fail, every month, and I am about 50% though the term. I don’t know if this will make any difference tho.

Just thought I’d see what all you MSE’ers though, as I’d rather not impact on my credit score / report, by applying for CC’s , only to get rejected.

Thanks!

immoral_angeluk

The only sure way to find out is to apply. One or two searches in isn't going to hurt your credit rating. It's only if you have too many in too short a period.

YorkshireBoy

Why not play it safe and apply for the M&S card instead...or Barclaycard...or Virgin...or...?

They all offer in excess of 12 months 0%...plenty long enough, because you wouldn't want to be paying for this years insurance after the year is up surely?

19lottie82

I got a refusal from M&S a couple of years ago for no obv reason and I already have a Barclaycard (hardly anything on it, just keep it for emergancies really) ..... But you're right I can prob find another one with a decent 0% promo offer, it was just that Tesco seemed the best.

Was just wondering if once you were given a promo rate, most CC companies had a policy of not giving it to you again, even if it was a couple of years later.......

YorkshireBoy

19lottie82 wrote: »

Was just wondering if once you were given a promo rate, most CC companies had a policy of not giving it to you again, even if it was a couple of years later.......

I'm only aware of Nationwide who had such a (publicised) policy, and even they have now relaxed it so you only have to wait 12 months after closing before being eligible to apply for another 0% introductory offer.

Rosco29

Virgin (MBNA) have a pretty decent acceptance rate. I'm on my third virgin card in about the last 5 years as they always offer decent 0% offers so I always end up reapplying.