New credit card advice please

ruintooeasy

hello,

i have one credit card with a limit of £1500 - it is pretty much maxed out however i do meet the payments each month. my credit is fairly good now. i would like to apply for a new credit card - will the fact i am nearly at my limit affect my chances of this being approved?

thanks in advance

ruintooeasy

oh i also should have said - ideally i would like a card with a higher limit and lower interest rate and will then transfer the balance of my existing card.

stephane_2

No one here will know for sure if you'll get accepted...lenders have all different criterial of acceptance like income, time at address, overall level of debt, overdraft use etc....having one card up to its limit however is not well perceived my most lenders. As for the limit you'll get it can vary and you are not guarantee to get a higher limit.

stephane_2

Maybe you should try Barclaycard Pre-application check...it will tell you if you are likely to be accepted for one of their card and it will not leave a search on your file....

Gromitt

stephane wrote: »

No one here will know for sure if you'll get accepted...lenders have all different criterial of acceptance like income, time at address, overall level of debt, overdraft use etc....having one card up to its limit however is not well perceived my most lenders.

True, but if at least the minimum payment is made every month, it shows sign of a profitable customer, so non-0% card issuers may be interested.

StuC75

Gromitt wrote: »

True, but if at least the minimum payment is made every month, it shows sign of a profitable customer, so non-0% card issuers may be interested.

Continually maxed out and only paying minimum (which is marked on credit file) shows somebody financially stretched.

Suppose its all part of the 'mix' of credit score \ earnings \ current commitments....