help needed on high interest credit card!!

scouse2201

hello everyone,

i am trying to rebuild my credit rating and have had my high interest capital one card for 6 months.

the reason i have had to rebuild my credit rating was due to a credit card I had at university and defaulted on.

My question is would it be possible to transfer the balance on to a 0% interest credit card by either going with another company or tell capital one i want to get rid off my card and try for them to give me one?

also would having two high interest cards say the vanquis card rebuild my credit score faster by paying them both off in full each month? faster than just having the one?


cheers Dan

jay78

If the default is still on your credit report either as settled or still owing, experiences on this forum suggest you are highly unlikely to get a 0% credit card as they are usually targeted at people who have a good credit record. You could apply for one of these cards and get declined apply for a vanquis card and even still get declined.

If it isn't on then by all means negotiate with Capital One or apply for another card.

Just to add also if you are trying to rebuild your credit. It's best to pay these cards of in full every month as the interest rate is extortionate. You should use them for things you would normally buy in a month (food, petrol, etc) and not build up a debt on them.

scouse2201

ah cheers for the help!

does anyone know how long your supposed to have a high interest card before you get some sort of decent credit score?

iceicebaby

I would think its not the using of the high interest cards that will improve your score, ratehr the default that is on your account that is bringing it down.