Transfer credit card on a zero balance

StephenA88

Hi,

I think my credit score is fairly good. We bought a house in the summer last year and I currently have a zero balance on a credit card. I'm hoping to apply for a Tesco credit card as I would like to use this to start collecting Clubcard points on a regular basis. I would like to keep my credit score as good as possible. Which of these options sounds the best or does it not matter in my situation?

* Cancel zero balance credit card and apply for new card.
* Add a small balance to credit card and do a balance transfer to new card.

Thank you so much. :j

[Deleted User]

Your credit score is fictional. Ignore it.

If you want the Tesco card, apply for it. Don't go cancelling others at least until you have it. And I don't even begin to understand the small balance BT idea.

StephenA88

Thanks.

So once I receive the new card, it should be fine to cancel the one I have at the moment? I

If the credit score is fictional then I guess there aren't any implications of cancelling it.

[Deleted User]

Your score is fictional but your credit history is very real.

Only cancel the card in question if your current card limits are dwarfing your income and you have at least three other cards available.

redux

Tesco credit card earns an eighth of a per cent in points for non-Tesco spending.

I believe it's one and a quarter per cent for shipping at Tesco, but this is worth checking.

If your main motive is Clubcard points and you regularly shop at Tesco, the double points on a Tesco debit card might be more attractive.

Tesco credit cards do have decent balance transfer offers, but your suggestion doesn't sound like you need this at the moment.

Craig1981

if applying, i would suggest a purchase card with Tesco - on the basis that you have no balances to transfer, a BT card will be a waste