Introductory 0% deal over before purchase

ryk1259AA

Hi guys,
Wondered if anyone could best advise me on the way forward regarding a 0% credit card from mbna.

It took me a long time to get my credit rating good enough to be eligible for a card like this and I finally got accepted.
I had a ccj and a dispute with a bank who left my file marked as unpaid or whatever ...these have now come off my file.

I had planned to purchase a laptop within the introductory period but i made a mistake with the end date of the offer and missed it!!

Im wondering what to do now ...my main focus is on bettering my score or at least not making it worse!

Mbna couldn't increase the offer even by a day.
I've not used the card at all since ive had it 3 months.
This was the only card I had a good chance of getting at the time of applying , going on the credit club advice

I could cancel the card and apply for another but would I need to wait a while ? An unused card for a short period of time wouldn't be that attractive to the next card company right ?

I could use the card for other purchases and pay them off in full at the end of each month for a period, say 6 months then cancel for a different 0% card?

I could make a purchase and then do a balance transfer ?
Or another option?

Im not really too up on all the tricks to maximise my score, any advice would be greatly apreciated
Thanks

ryk1259AA

"Deal" not seal !!!128584;

binaryuniverse

Certainly don't cancel the card. Not if it's your only credit card.
Keep using it and pay off in full, each time. You could try to get another 0% card at this stage. I wouldn't bother going for a BT. Just go for another 0% purchases card.

I know Tesco are a little less strict on who they give cards to, and can give generous limits. Providers like the Post Office offer a soft search on their site, which lets you see if you could potentially get one, without resulting in a hard search on your file.
If you plan to try in 6 months anyway, another hard search, today, wouldn't make a huge amount of impact.

If you can't get one, then try again in a few months, after you've got some spending/repayment history on your MBNA card.

Ergates

First, Set up a direct debit to pay off the full amount each month (even though this is currently 0).
Then, start using the card for every day purchases - shopping, sandwiches, petrol, whatever you would be buying anyway (and would presumably currently pay with cash or a debit card). As long as it's cleared every month you won't incur any interest.

This will start to build up your credit history - you can do this with any card, might as well use the one you already have.

You could cancel and switch to a different card after 6 months, or you could just keep that one as your every day card and get a second card at 0% (if you can) for a larger purpose to pay off over time.

[Deleted User]

ryk1259AA wrote: »

Im not really too up on all the tricks to maximise my score, any advice would be greatly apreciated

The best trick is to never look at, or care about your score.

Remember it's a largely random and totally meaniningless number and if you focus on 'maximising' it, you'll have a minor mental breakdown when it goes down just because you've cleared some debt, had a birthday or it's a bit colder than normal.

Use your cards regularly and clear in full each month unless on a 0% promo.

ryk1259AA

Thank you very much for your responses!
I'll use the card and set up a d/d to pay it off in full as advised and apply for another in a few months
Much apreciated

sparkey1

MBNA do offers from time to time. They might for example offer you a really cheap cash transfer offer. Keep the card.

PixelPound

Use the card and in a few months see if they can give you a new offer. Depending on your needs that might surfice