Credit card advice

secdean

Hi All,
I would like some advice about credit cards.
I have a vanquis credit card, with a 2K limit, we have £760 on it. After about 4 months of using it, today my bank Natwest (who turned me down last year for one) and Barclays sent me a letter each and a form to apply for one of their credit cards. They both claim 0% intrest for so long, but even their normal rate is half of what I pay with vanquis. I always pay off as much as was can afford on the credit card, Iv never paid the minium, and its proven really handy to have and I can't thank Vanquis enough.

Are these letters sent out for me to apply because my credit rating has improved or do they send them out to everyone?

Also, If I did get a Natwest one, would the limit be £500 until I prove myself like Vanquis? or can I expect a higher limit.

If I get the Natwest card, should I cancel my Vanquis account or is it good to have two credit cards for my credit rating?

Fruit_and_Nut_Case

What is the exact wording on the letters? Do they say that you are guaranteed a card or are they simply invitations to apply?

Do you bank with NatWest and/or Barclays? They may be impressed with the way you run your account and think you would be a good potential customer.

If you did get one, the limit would not necessarily be £500. Unfortunately there is no way of knowing for sure in advance. Barclaycard have an online pre-application checker which gives a guess at what you might get.

secdean

Hi Fruit and Nut case,
I bank with Natwest, Both Natwest & Barclays are invitations to apply only.
Natwest anoy me when I get paid and go to take the rent out they see my pay and try to offer me all sorts, but when they do the credit check for a card or loan I get turned down so I'm always dubius about them. It's why I'v come to like Vanquis so much,

YorkshireBoy

Unless there's some major issue as to why you were declined last year (poor credit history, very low income, financial associate issues, etc) - did you ask them at the time? - then I'd apply again.

Any BT fee would be recovered in 6 weeks or so (at the rates you're paying to Vanquis) if you can bag a 0% offer. Thereafter, every penny you pay will come off the debt...not swallowed up in interest.

If you are successful, close Vanquis.

secdean

Hi Yorkshire Boy,
I'v spent the past 16 months on credit expert, so everything was sound other then not having much of a lending history.

When I went to Natwest last year they told me I was declined, it would'nt say why, but could be bad debt from previous occupiers of my home. News to me, as when we moved in i filled out a moving form to local council, and electoral roll form.

We still get debt letters for previous tenants. Other then the above, theres nothing wrong with my credit past, never missed a payment.
I'l pay off the vanquis card, then apply for the Natwest one, and close Vanquis.

camuk81

hang on a moment, your credit is not affected by previous tenants. Its your file.

My recommendation get a copy of your report it should not show up any problems however there have been some unfair practices in the past and I would do this for peace of mind