Idiot me - applied in a rush

matttye

I applied for a card with my bank and got refused. This was before I got offered the credit card I now have with Capital One. I've sent a written appeal to my bank out of principle more than anything else, saying they've never been concerned about lending me money via an overdraft and I would ask for a credit limit significantly lower than what they've lent to me before, and I've always paid money back to them of my own accord and generally ran my account well.

If they actually give me a card now (not saying they will), would it be a bad idea to have two if I ran them both well? My main concern is improving my credit history.

There's no danger of me overspending so that's a non-issue.. far too sensible for that these days.

guesswho2000

matttye wrote: »

I applied for a card with my bank and got refused. This was before I got offered the credit card I now have with Capital One. I've sent a written appeal to my bank out of principle more than anything else, saying they've never been concerned about lending me money via an overdraft and I would ask for a credit limit significantly lower than what they've lent to me before, and I've always paid money back to them of my own accord and generally ran my account well.

If they actually give me a card now (not saying they will), would it be a bad idea to have two if I ran them both well? My main concern is improving my credit history.

There's no danger of me overspending so that's a non-issue.. far too sensible for that these days.

Nothing wrong with having two as long as they're well managed, I've currently got eight for various reasons.

matttye

guesswho2000 wrote: »

Nothing wrong with having two as long as they're well managed, I've currently got eight for various reasons.

I know the amount of available credit can be a factor when applying for more credit, but presumably if I close the accounts down if/when I no longer need them, it won't matter that I've had multiple cards then. I just wouldn't want it to look like I have borrowed recklessly.

Thanks

guesswho2000

matttye wrote: »

I know the amount of available credit can be a factor when applying for more credit, but presumably if I close the accounts down if/when I no longer need them, it won't matter that I've had multiple cards then. I just wouldn't want it to look like I have borrowed recklessly.

Thanks

No problem. The amount of available credit to salary does have an element of impact, I found that the limits I am granted decrease gradually with each card I obtain, until I start closing accounts, then the cycle repeats.

Some say that having an account for only a short period shows indecisiveness; can't comment on that, though I'd normally recommend keeping accounts open for around a year at least. That said, I'm in the process of closing one of my cards I've had for only 9 months.