First Card

aitkarage4802

I have been looking at cards recently for my first one, I'm currently torn on whether to apply for a CapitalOne Card or an Amex Basic Charge Card. I personally think it would be better if I got a charge card but I'm unsure if I'd be accepted.

I'm 18 and have an income of around £4300/year before student loan which will come in September.

My eligibility for the Amex Card is "9/10" and I'm "guaranteed" to get the CapitalOne card. However I'm skeptical that I will actually be accepted for the Amex card.

WillPS

Amex used to explicitly require a £20k salary.

They don't any more, but unless you have other income in your household I'd be surprised if you were accepted with a total income of £4k.

shiwen55

On top of my head, Amex has an annual membership fee and with this type of card, you'd probably pay full balance every month.


My wife has one of their cards and she paid last year £60, I've advised her to cancel and rather save or spend in a wiser way.


Check with Amex and see if they charge fee, then not worth it.


You'd need to build your credit history, try Aqua or something else and look after your spending and use well then you'd be better off. Remember, if you spending gets out of control, then you'll put yourself in debt, so have a budget to spend on credit card.


shiwen55

aitkarage4802

It was my desire to pay it off in full each month anyway, I'd do that with the CapitalOne card if I got it.

Both cards have no fee, hence why I'm torn between them.

I really would like the Amex but I really don't think I'd be accepted, despite the eligibility calculator saying I'm likely to. The last thing I want is a refused credit stamp on my credit rating.

C.M.

What characteristic is it that is drawing you to the American express over the capital one?

Maybe I'm wrong....but given that so many places do not accept American Express...I would the think its not a great idea of it is to be your only card - you would want a Mastercard or visa that you could use where Amex isn't accepted

aitkarage4802

Would I be likely to get the card if the eligibility checker said so?

Weybridge78

Get the Capital One. I highly doubt you will actually get the Amex despite what the eligibility calculator says.

[Deleted User]

aitkarage4802 wrote: »

The last thing I want is a refused credit stamp on my credit rating.

Luckily for you, such a stamp does not exist.

A4445

When not apply for both. You can use the Capital One card where Amex isn't accepted.

bigadaj

Deleted_User wrote: »

Luckily for you, such a stamp does not exist.

No, it's more of scribble with a smiley face.

Lith

Why not MBNA? worth a shot. (i recently got accepted for one and have over a 10K Limit)