Credit Cards after a IVA

OutOfTheWoods

Hello

After completing my IVA i have just been accepted for my first credit card to help build my creditt score, i have gone for a Aqua Advance with its free credit score checker, text alerts & online account.

Anyway my question

Would i build my credit score up quicker if i had 2 credit cards?

Would i be accepted for a 2nd credit builder card?

I plan on just using them for Petrol, food, phone bill, general things for both me & the mrs, spread across both cards ( if i was to get a 2nd) & of course pay them off in full ever month.

MrSilk

One or two doesn't make a difference, it's not how many you have that builds a healthy file, it's time (and patience!) x

jonesMUFCforever

Just out of an IVA and back again on the credit cards - tut tut what others have told you is true - there is no shortcut time will tell if your credit files remain clean.

dealer_wins

It is possible to go through life without needing credit cards, loans etc.

CLAPTON

dealer_wins wrote: »

It is possible to go through life without needing credit cards, loans etc.

for well disciplined, sensible people, there is no benefit in depriving oneself of credit cards: paid in full each month of course

OutOfTheWoods

jonesMUFCforever wrote: »

Just out of an IVA and back again on the credit cards - tut tut what others have told you is true - there is no shortcut time will tell if your credit files remain clean.

Don't tut me mate, i have very much learned form my mistakes for 7 years ago & a credit card is for building credit & confidence for a bank to give me a mortgage.

I dont want two cards just to max out, both me & my girl friend would be using them for day to day bill that go out of are bank account so will just put that on a credit card & pay off straight away which we have been doing with cards under my girlfriends name fir the last 5 years with no problems.

An IVA teaches you to look after your finances not screw them up again.

OutOfTheWoods

MrSilk thanks for the straight answer.

jonesMUFCforever

OutOfTheWoods wrote: »

Don't tut me mate, i have very much learned form my mistakes for 7 years ago & a credit card is for building credit & confidence for a bank to give me a mortgage.

I dont want two cards just to max out, both me & my girl friend would be using them for day to day bill that go out of are bank account so will just put that on a credit card & pay off straight away which we have been doing with cards under my girlfriends name fir the last 5 years with no problems.

An IVA teaches you to look after your finances not screw them up again.

Good luck then.

SamGR

It doesn't matter how many CC's you have, its how you manage what credit you have available. Before you know it Aqua will knock your credit limit up. Use it regularly and make all payments on time and your credit history will rebuild.

I wouldn't apply for another credit now though. applying for multiply credit cards in a short amount time looks like your credit hungry which they do not like.

Thrugelmir

OutOfTheWoods wrote: »

Don't tut me mate, i have very much learned form my mistakes for 7 years ago & a credit card is for building credit & confidence for a bank to give me a mortgage.

Statistics suggest otherwise. That's the information that lenders go by. There's no need to prove anything. As that's the way of rebuilding your credit file.

OutOfTheWoods

SamGR wrote: »

It doesn't matter how many CC's you have, its how you manage what credit you have available. Before you know it Aqua will knock your credit limit up. Use it regularly and make all payments on time and your credit history will rebuild.

I wouldn't apply for another credit now though. applying for multiply credit cards in a short amount time looks like your credit hungry which they do not like.

Was think maybe in 6 months time & the second card would be for my girl friend to use for fuel & food & of couse pay back soon after use, we have had 3 cards in her name over the the last 5 years 2 regularly used & now settled the other is being repaid & settle very soon, she has a very very good credit score so we hope to replicate that with me.


Thanks for your help