I want an additional credit card

NorthEastChap

Hi Folks,

I need an additional credit card.

My wife & I have just taken out 2 new 18 month % purchase credit cards with Tesco bank and got £3500 limit (each)
This will pay for our new kitchen (£7000).
We haven't spent on these 2 cards as yet - and wont until Juen time when we buy our kitchen.

We also need approx £1500 for some other work we need to pay for.(Floors etc..)
Given credit cards are fairly new to me -
I asked Tesco for a higher limit and they refused.
Wife earns : 20k
I earn 42k
We have a mortagage on 190k and an excellent credit rating.

Question is : if I go to one of the other good deals for purchase credit cards and ask for a £1500 limit : will it definately be refused ?
Or do I stand a good chance of getting additional funds from some other credit card provider ?

Any advice is greatly appreciated...
From a novice card holder!

[Deleted User]

You won't know until you try. Your chances are slimmer than previously though, because of the new cards. However, it may be better to do it before you max out the Tesco cards and this could look bad.

Svalbaard

I just did my annual switch to new 0% cards as my previous ones were nearing the end of their introductory periods. Went with Virgin money who gave me a £14k limit.

Might be worth a try.

mikey_l

Generally a lender won't give you an increase straight away as they will want to see some evidence (at least 6 months) of an account being ran well.

You're on a decent wage though, so I don't see why another lender won't give you another card, provided you don't have any other major debts / credit issues you've not mentioned.

You won't really be able to ask for what limit you want though, you'll just have to apply and they'll decide what limit they want to give you.

I'd steer clear of the cards aimed at low credit scorers though, because they generally give fairly low limits to begin with. Maybe something like the M&S card would be worth looking at. It's covered on the eligibility checker on this site too, which will give you some indication of whether you're likely to be accepted.

Onawingandaprayer

Out of interest, did you get an immediate 'yes' from Tesco or did you have to wait to be written to?