When should I apply for cards that are not sub-prime?

rcrowley32

I had a decent credit rating before moving to the US 10 years ago. By the time I came back (after 6 years) I had no credit history at all. I am registered to vote, rented a home for the past 3 years, and had a Virgin Media bill which I always paid on time and in full.

This year I got some sub-prime cards to build my credit history. In January, I got a Capital One card with a £500 limit. I kept my spending under £400 on this card and paid the balance in full every month. They have just given me a credit limit increase to £800.

In May, I decided to apply for Aqua and Vanquis cards and was approved for both. Vanquis limit is £500. Aqua limit is £600. I have stayed at least £100 within the limit on both of these cards and are paying them in full every month. I have no CCjs, late payments, or defaults.

I'm not planning on applying for anything else for a few months. But, I am interested in getting an Amazon credit card at some point. How long should I wait before applying? And should I close any of these cards before I apply for another one?

Ideally, I am interested in having one card with a £2000 limit, so I can buy flights on it, in case of an emergency. This is the goal I am working towards.

Any advice would be greatly appreciated.

Anthorn

I'm highly surprised that you applied for Aqua and Vanquis at the same time while already having Capital One and you were approved for both.

But anyway, more than one credit card is likely to work against you if only that lenders might consider that you already have enough credit. You would be better off having a selection of payments on your credit report and not just credit cards.

I would say as I always do, if in doubt apply. But I would say that you would have a better chance of replacing one sub-prime with a prime rather than just adding another card to your collection.

Why don't you try ringing a credit card issuer's enquiry line and getting advice rather than an outright application.

chanz4

MBNA don't like newly opened accounts, so allow at least 6-9 months

jo-bo

Who do you bank with? Also worth a try on nationwides and barclaycards soft search facility.