advice about credit card application

englishdad

Hi all

I got a barclaycard visa 5 months ago and have paid 5 payments, always paying off the statement balance so I dont get charged interest. It has a small balance of about £180 on it at the moment and my next payment is due on 15th July.

My question is, should I wait until I've paid 6 months worth of payments before I apply for a second card (a mastercard in this case), or do you think 5 months would be enough on my credit rating to help??

I'm going on holiday to Spain in 2 weeks and my thought was to coincide my application with that and take the new card for backup, otherwise I would just wait for the sixth payment to register.

Thanks! :beer:

bengalknights

Wait six months as the search would still be on file

izools

englishdad wrote: »

Hi all

I got a barclaycard visa 5 months ago and have paid 5 payments, always paying off the statement balance so I dont get charged interest. It has a small balance of about £180 on it at the moment and my next payment is due on 15th July.

My question is, should I wait until I've paid 6 months worth of payments before I apply for a second card (a mastercard in this case), or do you think 5 months would be enough on my credit rating to help??

I'm going on holiday to Spain in 2 weeks and my thought was to coincide my application with that and take the new card for backup, otherwise I would just wait for the sixth payment to register.

Thanks! :beer:

As above, an absolute minimum of six months before looking elsewhere

Money_Man

bengalknights wrote: »

Wait six months as the search would still be on file

The search will stay on the credit file for 12 months

Money_Man

englishdad wrote: »

Hi all

I got a barclaycard visa 5 months ago and have paid 5 payments, always paying off the statement balance so I dont get charged interest. It has a small balance of about £180 on it at the moment and my next payment is due on 15th July.

My question is, should I wait until I've paid 6 months worth of payments before I apply for a second card (a mastercard in this case), or do you think 5 months would be enough on my credit rating to help??

I'm going on holiday to Spain in 2 weeks and my thought was to coincide my application with that and take the new card for backup, otherwise I would just wait for the sixth payment to register.

Thanks! :beer:

Apply, you should be fine

englishdad

So, the scores on the doors are....

wait 6 months - 50%
wait 12 months - 25%
go ahead now - 25%

I don't think it matters that the application footprint will still be on the file since its obvious that I've only had it 5 months, but I stand to be corrected

Any more views?

Thanks again :beer:

Anthorn

OK here's another different view: If in doubt ... apply! All they can do is say no but they might say yes.

NickX

Anthorn wrote: »

OK here's another different view: If in doubt ... apply! All they can do is say no but they might say yes.

I would agree. The OP wants the card before they go on holiday, for that to happen they need to apply now. If the application gets rejected then think again, but they won't know without making the application.

Money_Man

englishdad wrote: »

So, the scores on the doors are....

wait 6 months - 50%
wait 12 months - 25%
go ahead now - 25%

I don't think it matters that the application footprint will still be on the file since its obvious that I've only had it 5 months, but I stand to be corrected

Any more views?

Thanks again :beer:

you have been approved for one card in the last 6 months, why would you not be approved another? if you apply let us know the outcome