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Retire Vanquis, go for Barclaycard

So I'm 25 and still dealing with the fallout of the mistakes I made when I was younger. I c0**ed up when I was 19, and it took me a couple of years to recover from that. I've still got 2 years left until my newest default flops off of my credit report. (can't wait!)

I currently have a vanquis credit card 39.9% APR, and a Capital one card (started at 35% APR but it lowers, I think it's currently on 25%).

I pay my balances off in full every month anyway, without fail, so the APR doesn't really matter to be honest, however I've just spotted this:

Bah not allowed to post links, even to MSE articles!! Anyway, on the latest newsletter there's card called Barclaycard Initial

And I'm thinking about applying for the Barclaycard one, and retiring the vanquis one. Mostly because I'd rather have a reputable card in my wallet, and also because it's the same as my Capital one card, and the APR drops over time (which is nice incase there is a reason that I can't/don't want to pay off the full balance one month). Also the Barclaycard one is 0% for 3 months which will be nice with Christmas coming.

Some questions:

1. Is there any reason NOT to do this?
2. Is there any reason to do it?
3. Would it damage my credit score (i.e average age of accounts).
4. Is there anything else to consider?

One thing that may affect this, I don't need a credit card, I could live quite comfortably without one, but it's nice to have options, and I do need to build my credit score back up.

Opinions and advice?

Thank you!


  • BugsyBrowne
    BugsyBrowne Posts: 5,697 Forumite
    Just apply for the BC initial and retire your Vanquis if accepted.

    Credit scoring is private only to lender when accessing an application.if any company is selling you a so called credit score please ignore this as it's a company market tool sold for profit and the number you'll receive is very meaningless
  • dotdash79
    dotdash79 Posts: 1,069 Forumite
    I would go for the BC, that the pre checker to see your odds, but one credit search isn't going to do much damage, if you aren't looking for applying anywhere else in the next few months.

  • MCam
    MCam Posts: 29 Forumite
    First Anniversary First Post
    Didn't see that checker. Says I have an 'Excellent Chance'. There's another one that actually shows up that has a good chance...
  • planteria
    planteria Posts: 5,321 Forumite
    First Anniversary Combo Breaker First Post
    i would definately be using Barclaycard or MBNA when you can, with much more scope for upgrades and useful features than with Vanquis
  • Dovah_diva
    Go for it - I have an Aqua card and the Barclaycard Initial. I'll be retiring the Aqua card next month as they are withdrawing the 3% cashback offer.
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