Multiple credit building cards?

Krisko

Hi,

I moved to the UK earlier this year and got a credit building card from Capital One (£200 limit) in August. Spending and paying in full every month...

My "goal" is to get a prime card with rewards and a useful credit limit.

Would it be helpful to have more than one credit building card, or should I just continue using my Cap1 card and then apply for a prime card in 6-12months?

Thank you

MadProf

I don't think there's a right answer here. Were it me, I'd apply for the Barclaycard Initial to build history with an additional credit provider with the goal to move onto their better products in future although that shouldn't be required to move onto prime cards in 6 - 12 months' time if your history showed you managed your Capital One card responsibly.

If you are willing to sacrifice an additional credit search (which shouldn't matter if you've not had any in the last couple of months) and you can responsibly pay the additional card off in full each month, then by all means...

RoryRory

Either way your credit is going to get better but managing multiple cards well isn't going to do anything bad in the long run it just proves you can manage your finances well! Have you considered something like the littlewoods catalogue? They have a years interest free period and once you spend and pay back regularly they increase your limit every few months which makes you look better in the eyes of some lenders with being trusted with so much credit and only using a certain amount.