We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

is it best to get a credit card with your bank?

Options
Quick background, 4 defaults all coming off this year after divorce. I have had a capital one credit card for the past 2 years and used it regularly and paid it off in full every month.


I have been accepted for an reasonable MBNA card with 4.9% APR for 5 years which is a step forward but with a small credit limit.


Would it be better to apply for a credit card with the Bank I have my salary and savings with? I don't know if they take into account salary and check to see spending etc?


My intention is to get rid of the capital one card and have 2 cards - MBNA and a another to rebuild my credit.

Comments

  • [Deleted User]
    [Deleted User] Posts: 35,242 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    It's often easier to get one from your own bank - though generally not the best card available.

    Why are you planning to lose the Cap One card? You'll lose a lot of history.
  • As ZX81 has pointed out. Keep the Capital one card as that has got history which other lenders will look for.

    Personally i would wait until them defaults fall off your credit file then i see no reason with your Capital One history along with the MNBA card history why you wouldn't get a mainstream card with a decent credit limit (obviously dependent on other factors, income etc.)
  • Thanks for the replies.


    No I have no plans to apply for another card at this point - just a bit of forward planning for when my defaults come off.


    After 6 years of being a "financial persona non grata" I am very nervous about applying for anything new.


    My concern is that I didn't want to appear to have to much open credit (even if I didn't use it) as I would like to get a new car next year (saving hard for the deposit). So I wondered if it was better to cancel Capital one seeing as I am never going to use it again?
  • [Deleted User]
    [Deleted User] Posts: 35,242 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    The best plan would be to keep it and use it, at least occasionally.
This discussion has been closed.
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 350.7K Banking & Borrowing
  • 253K Reduce Debt & Boost Income
  • 453.4K Spending & Discounts
  • 243.7K Work, Benefits & Business
  • 598.5K Mortgages, Homes & Bills
  • 176.8K Life & Family
  • 256.9K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.1K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.