0% interest on purchases credit cards

newbie5a

[FONT=&quot]Hi all,[/FONT]
[FONT=&quot]

Just a quick question and one that I plan to raise with Natwest shortly - although I thought I'd check on here first.


I have an 0% on purchases credit card which is due to end (after 13 months) in January with Natwest. I am keen to have another interest free purchase period (of 12 months or more) and know that there are other options. As I know that Natwest give me a healthy credit limit, do people think it would be possible to close my card account in January once I have paid this off and then re-apply for exactly the same card in order to have this interest free period once more? Will this work or are banks clamping down on this?


Also: If I opt to get a card elsewhere, I would like to pay off my current card first so I get the best possible credit limit on any new card. If I do pay off this card, how long do I need to wait for my credit report to be brought up to date before applying for a new card?

I am assuming that it is not possible to see estimated credit limits prior to submitting an application? If not, how long does it take to see this limit? Is this show immediately online or only once then card is delivered?

Apologies for my questions folks but any info would be hugely appreciated.


Thank you.[/FONT]

Horseunderwater

You need to wait 6 months before re applying for another 0% deal with same CC company. So earliest for Natwest would be July.
Tesco bank are offering a 22 month 0% deal with 0% on purchases for 6 months, but you might not get a very big limit with them. However if you are paying off your CC by Jan, you may find a better deal out there more suitable perhaps.

guesswho2000

Horseunderwater wrote: »

You need to wait 6 months before re applying for another 0% deal with same CC company. So earliest for Natwest would be July.
Tesco bank are offering a 22 month 0% deal with 0% on purchases for 6 months, but you might not get a very big limit with them. However if you are paying off your CC by Jan, you may find a better deal out there more suitable perhaps.

Tesco are also offering 16 months 0% on purchases with a 9 month balance transfer, you can pick on the website, which might be better for OPs needs.

For info, NatWest let you hold more than one of their cards at a time, so you won't need to wait until July to apply for another one, although I'm not sure if they let you have two of the same card (I've got NatWest Classic and Yourpoints cards).