Lloyds credit card

moatmeister

Wife has business bank account with lloyds as a sole trader, always in credit and personlly banks with barclays, usually in o/d. Barclays declined a cc application in 28/12/12. At the time she had a perfect credit file but with relatively high exposure.

Since then her credit utilisation has improved, and we have paid off a cap 1 card to a zero balance which is showing on the CRA reports, and maid inroads into the tesco CC account. Outstanding is about £3800 (£4k limit) with tesco cc and £600 with next (£3k limit)

Looking to get a 0% bt card to deal with these now.
Should she
Apply again to barclaycard?
Apply to Lloyds?
Leave open or close the Cap 1 account first?
Would sole trader lloyds business account running nicely make any difference to a lloyds cc application?

moatmeister

Anyone????

YorkshireBoy

moatmeister wrote: »

maid inroads into the tesco CC account. Outstanding is about £3800 (£4k limit) with tesco cc

Unless she's recently reduced the limit (bad move!), I wouldn't call £200 "inroads". At 1% plus interest, she should have cleared around £160 just by making the minimum payments this year.

She's still 'maxed out'. Being so close to the limit will scare many lenders off...if they assess each card separately, rather than lump all facilities together.

and £600 with next (£3k limit)

There's some headroom there, but will her income support it?

But to answer your specific questions:

Apply again to barclaycard?

No, not so soon.

Apply to Lloyds?

I wouldn't. I understand they automatically decline non-personal current account holders, meaning an appeal is often necessary (with possibly another credit search)

Leave open or close the Cap 1 account first?

Depends on her income...which is?...and the limit...which is?...and her (and your, if you're financially associated) other financial circumstances.

Would sole trader lloyds business account running nicely make any difference to a lloyds cc application?

No idea, sorry.

simax

Try Lloyds, if declined for that I would wait a min of 6 months before applying for anything else.

Stuartzane

I was accepted by Barclays only two months after the declined but i was very surprised though.
If your wife has an account with lloydstsb, I think the best thing to do is to ring them to ask if she is eligible for a credit card. Normally the staff will check on the computer to give you a straight answer 'yes' or 'no'.

moatmeister

Cheers everyone.

@Yorkshire boy....
Income around £15k
Capitol 1 limit is £3k (we have concentrated on paying this down in preference to the tesco cc due to extortionate rates)
Barclays o/d fluctuates around £1500
No other major commitments

chanz4

on that salary I wouldnt apply