Need some Advice - Credit rating

le_corbu

I'm generally quite good with money. I've never had a credit card before and when I buy something I just generally save up for it. I'm looking to buy a computer & projector, which'll add up to about £1500. I haven't found the right pc so I'm still shopping around.

So right now I'm thinking of getting the Nectar Amex card to get the 6000 points. Then to actually but the pc I'm thinking of just going with HSBC as they are my bank & they have a 6 months 0% for purchases. & I will have paid everything off in the 6 months. After that I'm thinking of going for a morgan stanley card as seeing as I've got some self control when it comes to spending I thought I would try gain on the cashback offer.

I earn £28000 & I don't have a mortgage.

My question is, would I be penalised at any point for applying for 3 cards.

Thanks in advance.

aj3001

Apply one at a time, maybe leaving a week or two between applications

On a note of the PC and projector, check out https://www.ebuyer.com but bear in mind the prices of replacement bulbs when it goes! They can sometimes be about 70% of the cost of the projector!

sicker

I would go for Egg Money and get 1% cash back on all purchases, paid yearly in March. Clear the balance each month and you get a nice little (could be up to £200) bonus each year for spending your own money. If your balance is positive you also get 4% interest paid monthly.

John

le_corbu

Thanks for both responses.

Will definitely look into the egg money.

Mr_Gamgee

Good luck! If my experiences are anything to go by, you can be great with money but if you've never had credit before you might find it difficult getting a decent card.

Check this site here: http://www.moneysupermarket.com/cards/credit_card.asp fill in the 'smart search with equifax' bit and it will approximate your credit worthyness and recommend a few cards for your situation.

I've asked about the actual number of credit searches that look bad on your file. Equifax won't give a definitive answer and said they recommend 3 to 6 months before applying again, which seems a long time to me.