Third credit card - good or bad idea?

chihiro05

I've had a credit card for a couple of years now. Then a couple of weeks ago I applied for a Tesco credit card, was approved instantly and received everything this week. Today, after reading about making more interest in a current account than in an ISA I opened a TSB plus account...again was approved straight away and now I patiently wait for my pin and card to arrive.

So here is my question...Topcashback is offering a nice little amount for opening a Post Office credit card. Is it a bad idea to do it now since they would have done two credit checks in the last 2 weeks (+ one in early May for my new fixed deal with my mortgage lender) or should I wait a couple of weeks to do that?

YorkshireBoy

2 weeks won't make any difference at all. I understand lenders look at timescales such as searches in last 3 months, 6 months, 12 months, etc.


You've nothing to lose and £40+ to gain. Personally I wouldn't want the hassle of opening and closing an account for £40...unless you plan to keep it for overseas use?

chihiro05

Thanks Yorkshireboy.

The attraction of the PO credit card is being able to use it abroad without incurring charges that you get on other credit cards...so yes mainly to use abroad. Is there any harm in getting a credit card and then hardly using it?

£40 isn't much but as they say...every little helps

I guess what I was mainly wondering was the fact that I have had two credit checks over the last two weeks (one for the tesco credit card and the other for the new TSB account) and having another one today or tomorrow for the PO credit card might be risky. Is it better to wait till the end of the month or does it not make the slightest bit of difference?

YorkshireBoy

chihiro05 wrote: »

Is it better to wait till the end of the month or does it not make the slightest bit of difference?

See the first sentence of my reply above.

chihiro05

Thank you! Just wanted to be 100% sure I understood what you meant. Off to apply I go. Thanks again for your help

Swampy3k

Take the £40 and run, it's money for nothing might even apply for it myself cheers lol