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Capital One - 2nd Card

edited 30 November -1 at 1:00AM in Credit Cards
156 replies 29.4K views
11011131516

Replies

  • [Deleted User][Deleted User] Forumite
    0 Posts
    MoneySaving Newbie
    Yes - the history comes from the CRA. Not the score.

    Why would your score go down when opening an account? Or closing an account?

    It makes no sense and shouldn't be used
  • !!! wrote: »
    Yes - the history comes from the CRA. Not the score.

    Why would your score go down when opening an account? Or closing an account?

    It makes no sense and shouldn't be used

    My children seem to have a better grasp of this...its an indication of your credit file.
  • [Deleted User][Deleted User] Forumite
    0 Posts
    MoneySaving Newbie
    Its really not.

    But ho hum
  • Superhoop91Superhoop91 Forumite
    96 Posts
    Third Anniversary 10 Posts Combo Breaker
    Hi so I have. Cap 1 card with the limit going up to £1000 in a few days. I've been approved (by failing a fraud check) for an Aqua card but the interest rate is really high on it. I only want to use extra credit on top of what I currently have for the next 3 months so am I best sticking to taking the Aqua card and paying it as soon as I can or doing another hard search for a second Cap 1 card.

    Then if I take Cap 1, should I move the credit limit all onto one card or use them both together? What if say I get a few months 0% purchase on the Cap 1 new card, should I keep them both then. I've seen here one card is better and even better to keep your card you've had the longest as it makes it look like that card increased in credit limit even though you're just adding it on to another limit. I've been pre approved for all the Cap 1 cards except the balance transfer one so should get a second card but would imagine the limit would be low if I am getting a credit increase in a few days anyway. Thanks for any help you guys can offer.
  • [Deleted User][Deleted User] Forumite
    0 Posts
    MoneySaving Newbie
    Keep both aqua and capital one cards.

    Use them both for normal purchases and pay off in full each month - that way you avoid the interest.

    If you've been accepted for the cards already then I'm assuming you've signed an agreement already?
  • Hi so I have. Cap 1 card with the limit going up to £1000 in a few days. I've been approved (by failing a fraud check) for an Aqua card but the interest rate is really high on it. I only want to use extra credit on top of what I currently have for the next 3 months so am I best sticking to taking the Aqua card and paying it as soon as I can or doing another hard search for a second Cap 1 card.

    Then if I take Cap 1, should I move the credit limit all onto one card or use them both together? What if say I get a few months 0% purchase on the Cap 1 new card, should I keep them both then. I've seen here one card is better and even better to keep your card you've had the longest as it makes it look like that card increased in credit limit even though you're just adding it on to another limit. I've been pre approved for all the Cap 1 cards except the balance transfer one so should get a second card but would imagine the limit would be low if I am getting a credit increase in a few days anyway. Thanks for any help you guys can offer.

    Just be aware that being pre-approved and then passing a hard search doesnt mean you will be given the card.

    I passed both and was then declined..despite having an account and being pre-approved and passing credit search...go figure..:eek::eek:
  • Superhoop91Superhoop91 Forumite
    96 Posts
    Third Anniversary 10 Posts Combo Breaker
    !!!

    I've got a pre contract through the post for Aqua and been told I just need to provide proof of ID. Does this mean it's not guaranteed I'll be getting it.

    As mentioned previously I'll need to use the additional credit for the next 3 months and then can begin paying them off (clearing higher interest rate pay day loans). Should I still get an Aqua card and try for another cap 1 card?

    Thanks
  • [Deleted User][Deleted User] Forumite
    0 Posts
    MoneySaving Newbie
    So you have other debts elsewhere at the moment as well?
  • Superhoop91Superhoop91 Forumite
    96 Posts
    Third Anniversary 10 Posts Combo Breaker
    Yes, that's what I'm trying to get a card for to reduce the debt. I've reduced it already some what by being smart with money and borrowing from friends at 0% APR. Want to clear more now without paying as high interest if possible. What would you recommend?
  • [Deleted User][Deleted User] Forumite
    0 Posts
    MoneySaving Newbie
    Yes, that's what I'm trying to get a card for to reduce the debt. I've reduced it already some what by being smart with money and borrowing from friends at 0% APR. Want to clear more now without paying as high interest if possible. What would you recommend?

    You're reducing debt by getting a credit card that can put you in... debt?

    What do you owe and where?
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