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tesco foundation
kpearsoncj
Posts: 248 Forumite
in Credit cards
Hi just done the pre checker for credit cards. Came up with tesco foundation anyone been accepted for that card / have any experience using it?
Currently have a vanquis card full payments made on time each month.
Currently have a vanquis card full payments made on time each month.
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Comments
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Looking at the card it is designed for people with little or no credit not bad credit.
John0 -
thanks - cos i currently have vanquis - recovering from redundancy in 2010 pprox thought it would be a good option for swapping over maybe,.0
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kpearsoncj wrote: »thanks - cos i currently have vanquis - recovering from redundancy in 2010 pprox thought it would be a good option for swapping over maybe,.
Depends if you're holding a balance on the card or not. If you're paying it off in full each month, there's not really much point in swapping over, I'd wait until your credit worthiness is a bit better so you can get one of their mainstream cards.
If you're carrying a balance, I'd do the MSE Eligibility Checker to see if you can qualify for any 0% Balance Transfer deals.Credit 'Score' - Don't buy the credit 'score' that Experian, Equifax and Noddle want to sell you. It's an arbitrary number that means nothing when it comes to applying for credit.
ALWAYS HAVE A DIRECT DEBIT SET UP FOR THE MINIMUM PAYMENT ON YOUR CREDIT CARDS, REGARDLESS OF WHETHER YOU PLAN TO LOGIN AND PAY EACH MONTH.0 -
Two cards, rather than just one, might be good for building/establishing a credit history, but if you always settle the Vanquis card in full each month what's the point in "swapping over"?kpearsoncj wrote: »thanks - cos i currently have vanquis - recovering from redundancy in 2010 pprox thought it would be a good option for swapping over maybe,.0 -
i was thinking it might be better to just upgrade one with tesco rather than hope with vanquis my rating might get better. Plus the clubcard points would be helpful.0
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kpearsoncj wrote: »i was thinking it might be better to just upgrade one with tesco rather than hope with vanquis my rating might get better. Plus the clubcard points would be helpful.
I'd wait it out for another 6-12 months and then apply for one of their better cards.Credit 'Score' - Don't buy the credit 'score' that Experian, Equifax and Noddle want to sell you. It's an arbitrary number that means nothing when it comes to applying for credit.
ALWAYS HAVE A DIRECT DEBIT SET UP FOR THE MINIMUM PAYMENT ON YOUR CREDIT CARDS, REGARDLESS OF WHETHER YOU PLAN TO LOGIN AND PAY EACH MONTH.0 -
Tesco will be quite tightDon't put your trust into an Experian score - it is not a number any bank will ever use & it is generally a waste of money to purchase it. They are also selling you insurance you dont need.0
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