Getting another credit card

freeman3030

Hi all,
I've currently got a Natwest credit card with n outstanding balance of £2,400 - the credit limit is £3,450. I've got the cash to pay it off in my isa but I've still got 6 months 0% left remaining.

I'd like to take out another credit card to get another 12 -15 0% on purchases because I want to get new bedroom furniture by want to know the likelihood is of acceptance as I've already got quite a large outstanding balance. I'm not looking to transfer the balance as I intend to pay the card off just before the 0% deal ends.

Any ideas?

[Deleted User]

You have a fairly small balance and limit, although your utilisation is high.

Assuming your income and credit history is ok, I'd have thought you stand a reasonable chance.

freeman3030

Thanks for your reply, I don't have a very high income (about 10 - 12k per year) but I do have a mortgage with my partner who earns considerably more than me. I've got an outstanding credit history with no defaults or missed payments. I'd just hate to be declined and have a mark on my credit file.

The_Boss

freeman3030 wrote: »

Thanks for your reply, I don't have a very high income (about 10 - 12k per year) but I do have a mortgage with my partner who earns considerably more than me. I've got an outstanding credit history with no defaults or missed payments. I'd just hate to be declined and have a mark on my credit file.

You wouldn't have a 'mark' on your credit file if declined. The same search would be recorded whether you are accepted or declined.

vns

freeman3030 wrote: »

Thanks for your reply, I don't have a very high income (about 10 - 12k per year) but I do have a mortgage with my partner who earns considerably more than me. I've got an outstanding credit history with no defaults or missed payments. I'd just hate to be declined and have a mark on my credit file.

Ask your partner to apply if they have a better chance of getting the card? (Although it depends on your relationship)

The_Boss wrote: »

You wouldn't have a 'mark' on your credit file if declined. The same search would be recorded whether you are accepted or declined.

But it still matters, you should aim to apply for cards that you have a good chance of getting, every search does leave a record. Too many searches can start to damage your credibility (more so if you're repeatedly rejected).

The_Boss

vns wrote: »

But it still matters, you should aim to apply for cards that you have a good chance of getting, every search does leave a record. Too many searches can start to damage your credibility (more so if you're repeatedly rejected).

The suggestion is that rejection leaves a negative mark on your credit file. It doesn't.

freeman3030

Thankyou for the responses so far.
My partner and I have a very close relationship but I would rather apply for the card myself.

I assumed that a rejection would leave a negative mark, so I'm glad to have learned that's not the case.
I've been looking on money supermarket at credit cards and using the 'whats my chance" or whatever its called. I score 9/10 on quite a few cards. I'm not sure how accurate it is though?

With my Natwest credit card, I applied and about a week or so later the card came through the post, I didn't have to send off payslips or anything like that, if I applied for a Halifax card, I'd imagine i'd have to send off payslips? And would it be the standard 3 months worth? I've never had any accounts with Halifax before.

reclusive46

freeman3030 wrote: »

With my Natwest credit card, I applied and about a week or so later the card came through the post, I didn't have to send off payslips or anything like that, if I applied for a Halifax card, I'd imagine i'd have to send off payslips? And would it be the standard 3 months worth? I've never had any accounts with Halifax before.

It would be very unusual to have to send a credit card provider payslips. Usually they'll just take your word for it when you put your income.

freeman3030

Oh Ok, I just assumed that Natwest didn't need my payslips because my pay goes into my account so they can see how much I earn. Glad to heave learned that too.

Morglin

Halifax, Amex (the credit card, not the charge card), and Capital One are doing good deals on interest free, at the moment, and some of them are Cashback as well, which makes them even better (assuming the balance can be cleared at the end of the interest free period).

They all gave virtually instant decisions, with no hassles at all for me.

Lin

freeman3030

Just a small update, I applied for a Halifax card and was accepted. Note sure what credit limit I've got yet and unfortunately didn't get the rate that was advertised. But I'll have the card paid off long before I'll ever incur interest. Thanks for all the helpful replies in this thread!