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My first credit card
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You still can get the full benefit of credit card protection if you only pay a deposit by card. So you could in theory pay £10 by credit card as a deposit and £1490 by debit card and you would have the same protection. Thats easy in a shop but can often be harder when shopping online.
If accepted limits are usually based prinicipally on income level factoring in to account any debts etc. But for someone with a limited credit history then the limit can also be lower to take in to account the added risk of lending to someone with little history.
But no way of knowing what limit you will get if accepted until you try.A smile enriches those who receive without making poorer those who giveor "It costs nowt to be nice"0 -
Ok, one more quick Q.
Regarding credit limits, what are my options when the credit limit won't cover a one-off spend of £1500? I'm hoping they will, but that CapitalOne card has a min of £1000 (max of 10,000). Using the MSE check i'm apparently 70% likely to be able to get the card but at what limit?
I would suggest avoiding the card if the MSE checker rates you only 70%.
See what other cards the MSE checker offers at 80% or more
The thing is you see, if you apply and get declined, you'll have even less of a chance elsewhere, as every application you make for credit lowers your credit score / credit worthiness, so you really need to go with as high a chance acceptance card as possible.
What about the Barclaycard Cashback? I remember a post on here from someone a couple of years ago being accepted for a Barclaycard Platinum despite having never held a card elsewhere before but he was already a Barclays customer, so perhaps that helped...
I can tell you now, if you apply for the Capital One 5% Cashback card having never held a card elsewhere you really are incredibly likely to have wasted a credit search.
Then again, if you do get accepted for it, and honestly haven't ever had a credit card before, I'll make a youtube video of me eating a hat and post it up.
EDIT: What does this say?
https://letmechoose.barclaycard.co.uk/Cashback Earned ¦ Nectar Points £68 ¦ Natoinwide Select £62 ¦ Aqua Reward £100 ¦ Amex Platinum £48
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See what other cards the MSE checker offers at 80% or more
well i checked, and the only one above 70% is the Capital One Classic Extra for those with a poor credit history.
However according to the MSE Credit Checker i have a "Good" rating. I guess it doesn't help that i've only been in my rented flat for 7 months (moved for a job) and that i've only ever had one store card (warehouse, funded by Ikano) obtained 6 months ago.What about the Barclaycard Cashback?
I used the link and i appear to be 80-90 or 90+% likely to get any of their cards!Then again, if you do get accepted for it, and honestly haven't ever had a credit card before, I'll make a youtube video of me eating a hat and post it up.
So tempting ....0 -
If I were in your position, I'd apply for the Barclaycard.
Seeing as you have to make 15 transactions a month to qualify for cashback on their card, I'd use it for every single purchase you make, in place of your debit card, and clear it in full each month.
This way, you hit the 15 transactions a month target without spending anything you wouldn't normally spend, and don't incur any interest, given that you don't get charged any if you clear it in full.
Good luck! Cashback Earned ¦ Nectar Points £68 ¦ Natoinwide Select £62 ¦ Aqua Reward £100 ¦ Amex Platinum £48
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I would dismiss the MSE Pre-apply Eligibility Checker as unreliable and effectively useless.
I recently used it to check myself for a Saga Credit Card for travel in USA.
I have a credit rating of 999 (Equifax/Experian) have been a homeowner and electorally registered with my current local authority for 30 years, have never defaulted a payment in my life, no CCJ or anything remotely like that. I have only one other credit card and I do 'age' qualify for Saga.
Yet the MSE checker consistently came back with a 0% and a You are not eligible for this card . :mad:
Yes, I am Martin, I damn-well am!
Even Saga were dumbfounded when I rang them with the tale.The bankers stole my pension (and everyone else's). It should have earned a lot of money, but they took their bonus pot first.0 -
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Maybe so, but its the system they all use.chattychappy wrote: ». . . I would dismiss the Equifax/Experian credit scores as unreliable and effectively useless!!
Did you come up with an alternative that the card providers are happy to accept?The bankers stole my pension (and everyone else's). It should have earned a lot of money, but they took their bonus pot first.0 -
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