Help please...

darrenwis

Hi guys,

I've currently got a credit card from Creation which is a balance transfer card. I've only had this for a short period of time but I have reduced the debt to £500 or so.

Me and my partner are looking to go on holiday initially putting this onto a credit card. But the current card is around 18% apr. Can anyone recommend a fairly easy Interest free credit card to be accepted for?

Is it ok for me to have 2 credit cards?

Does it go against my credit rating if I have had a Credit Card for 3 months and then close / get another one?

Thanks,
D

lisyloo

Me and my partner are looking to go on holiday initially putting this onto a credit card.

My MSE advice is save up.

Is it ok for me to have 2 credit cards?

You can have as many cards as the lenders will allow. However of course they all have to be paid back and warning bells are going off in my head as you already appear to be planning to spend money you don't have on luxuries.

Does it go against my credit rating if I have had a Credit Card for 3 months and then close / get another one?

Not really, although if you cannot pay the money back it will definitely harm your credit rating.
How can you guarantee to pay back money you don't yet have?

darrenwis

I have £600 I can use to clear the BT card if required. Or to part-spend on the holiday.

Just wondering what the best cards were for fairly good credit ratings.

BugsyBrowne

Go on the nationwide site and apply for their credit card and it will say wether or not you will be accepted and what APR you will get and this is just a quote and has no effect on your credit rating.

darrenwis

Thanks.

I just done this and went through but it says Max limit £500 but can be changed in application. No good if i wanted to book a holiday.

YorkshireBoy

darrenwis wrote: »

No good if i wanted to book a holiday.

Put the deposit on the card, and then BT to your other card.

Then pay the balance on the new card, supplementing as required with your savings. Then BT the new balance to the other card.

Have to say though, that in your position (and perceived credit rating by Nationwide), I'd be foregoing this years holiday and going next year instead and using my own 'hard-earned'.

Then again, I'm probably from a different generation. Coincidentally, or possibly not(!), I've never been in debt. Think about it?

darrenwis

Not sure how they work this out though, as they don' run any credit check in the quote and i am on a decent wage. Im guessing its because im in a fairly new job and have just moved house.

BugsyBrowne

darrenwis wrote: »

Thanks.

I just done this and went through but it says Max limit £500 but can be changed in application. No good if i wanted to book a holiday.

£500 quote from nationwide may of been seen as your carrying a lot of debt, not 100% sure but from someone like NW that is quite low.

YorkshireBoy

darrenwis wrote: »

Not sure how they work this out though, as they don' run any credit check in the quote

Yes they do. It's just that it's marked as an unrecorded enquiry, meaning it's not seen by other lenders when they search your file (that's why it doesn't affect your credit rating).

Im guessing its because im in a fairly new job and have just moved house.

Agreed. These are the two most important 'stability' factors in credit scoring...time in job and time at address.

darrenwis

So.... I just got to wait it out?

darrenwis

Anyone ever had luck calling their current card provider and asking for deal?