It's little wonder so many people are in debt

rayday2

Hmm wonder if when you get the paperwork they will stick to it!

If I wasn't going through remortgage process I would apply to get the 8.50 then close it!

Cazzdevil

Yeah it'll be interesting to see when they send the paperwork through. I haven't even bothered applying for the ones that give cashback on acceptance, only the ones who give you it regardless of whether you're accepted or declined.

I got my first credit card when I was 18, £500 limit straight away. I got my mortgage on my 19th birthday, it was a slippery slope from then on

rog2

Broken_hearted wrote: »

No but I am tempted to sign up for the £8.50.

Me too, BH. Wonder if it matters that MBNA were one of my creditors when I was declared bankrupt - will I still get the £8.50.

nickelodeon

rayday2 wrote: »

If I was you I would get rid and write to cancel the nil balance cards they can effect your credit history credit ratings go on how much you could spend no one day if you liked.

If you did in the future actually want a card chances are with less open allbeit nil accounts you could get a better deal - just a thought!

Thanks Rayday, I've been thinking about this, I've got a balance on one credit card that is at 0% until the end of Sept so I was going to ring up and ask if they could offer me a balance transfer and if they can't close the account!

Broken_hearted

rog2 wrote: »

Me too, BH. Wonder if it matters that MBNA were one of my creditors when I was declared bankrupt - will I still get the £8.50.

Knowing then you'll probably get a new card in the post.

Cazzdevil

I'm ever so slightly concerened... It hasn't tracked in Quidco yet - maybe I did all that for nothing!!

lemma1968

I'm very concerned on reading some of this.

Please, Please remember that everytime you apply for credit in any form, the lender will do a search on the CRA's files AND that search is RECORDED and leaves a footprint. Those searches can affect your credit rating:eek:

£8.50 is big price to pay if it goes towards further upsetting your credit rating.

Tashja

lemma1968 wrote: »

I'm very concerned on reading some of this.

Please, Please remember that everytime you apply for credit in any form, the lender will do a search on the CRA's files AND that search is RECORDED and leaves a footprint. Those searches can affect your credit rating:eek:

£8.50 is big price to pay if it goes towards further upsetting your credit rating.

The OP has already stated that their credit file is a bit of a mess and therefore another search will not make any difference to them !!

T xx

Cazzdevil

Exactly Tashja, I wouldn't have applied otherwise. Although since I got accepted then it'll not leave a black strike theoretically...

lemma1968

My concern is Threefold:

Firstly that people think that by just applying through a cashback site for a credit card that they know may well be declined for the sake of £8.50 is doing them no harm.

Secondly, cashback sites are great for many things but they are also a clever way for sub-prime lenders to lure you into taking out further credit - the OP did not expect to be accepted - but now he/she is the proud owner of a new credit card with a limit of £350. This site contains many vulnerable people who are living hand to mouth each week and may be so desperate they don't freeze their card.

Thirdly, for those trying to rebuild their credit (of which this site contains literaly thousands) the simple and tempting application for that £8.50 can actually further harm your credit rating.

It is a matter of each to their own I appreciate that - but people should be aware of what happens to your credit file if and when you apply for credit regardless of whether or not you were accepted.