Two Applications

happycamel_2

We've just taken the decision to buy a new kitchen, it's a case of needs must - the oven and extractor fan have died and the laminate is peeling at an alarming rate. We don't want to do a cheap job because it's a relatively expensive house so we're spending about £23k (it's a big kitchen), this is about £3k less than our cash savings. We were going to sell some shares but they dropped 9% last week so we want to keep them now rather than crystallise the loss.

Anyway, we have no other debts other than mortgage at 1.99% and £2k remaining on my student loan. We use a Tesco cc in my name, paid off in full every month. DH has a Halifax one he doesn't use.

Yesterday DH applied for a Tesco one to get the 0% on purchases and club card points. It said straight away that it's approved with an £8k limit. I'd like to apply for an M&S one for the 0% and vouchers. We can then keep our savings higher (3% from Santander) and chunk off the cards once dd gets some free nursery hours. I'm just ending mat leave with my youngest but hope to get some part time work which will help rebuild savings.

Would I be ok to apply for the M&S one, technically I'm serving my notice as I'm resigning in Dec but I'm fully contracted and could change my mind. Do I just declare myself employed on my full salary. I get almost nothing right now due to mat leave.

Also, would my application be affected because DH just applied? We're financially linked through the mortgage but both have £50k+ salaries.

I'd like to stooze the kitchen as much as we can.

Thanks

NPHammer

Some lenders application has a question, or part of the terms and conditions something to effect of "I am unaware of any change of my circumstances which may limit my ability to meet the commitments of this agreement".

Many don't, particularly for Credit Cards, If you go through the M&S process you will see if they do, I can't remember. In your circumstance I would have no pains of conscience about using your existing employment details in the application. But it's a question for you to judge personally.

With the good management of your accounts you have mentioned I don't think the one recent application from your husband will be any issue at all. You can use the MSE pre eligibility checker for the M&S card - it told me I had an 80% chance and I was accepted when I applied.