Is a second credit card advisable?

Emily_Joy

Actually barclaycard has nothing to do with Barclay's bank. So it looks like your bank is offering you a "prime" credit card. Good thing, take it.

MallyGirl

Emily_Joy wrote: »

Actually barclaycard has nothing to do with Barclay's bank.

Not correct - Barclaycard is a trading name of Barclays Bank UK PLC.

[Deleted User]

I never said Barclaycard was anything to do with Barclays bank?

I said my bank *HALIFAX* has offered it to me..

[Deleted User]

I was also assuming it was actually something to do with it..it has the same logo and address as my partners barclays current account

MDMD

[Deleted User] wrote:

It’s with Halifax bank, it’s a reward card (offers cash back amongst a few other little bits).

17%

I don’t think it’s strictly a rewards card as I don’t think Halifax do one since they stopped the clarity £5.

It looks like the “reward” is the cashback extras you can get on the current account

AJGuy

I have a MasterCard credit card and a Amex charge card, my score went up when I opened the Amex account.

If you manage your credit cards well I can’t see this being a problem, like others have mentioned having more than one card is very helpful... especially when places don’t accept Amex (which is most places) but you want to maximise on rewards and offers. The OH has 4, all are paid off in full each and every month but we get free flights, cash backs and the odd case of wine, his credit score is in the excellent range.

As ever though credit scoring is a dark art that nobody can predict, if your about to apply for a mortgage I would be careful of any drastic changes.

[Deleted User]

AJGuy wrote: »

I have a MasterCard credit card and a Amex charge card, my score went up when I opened the Amex account.

If you manage your credit cards well I can’t see this being a problem, like others have mentioned having more than one card is very helpful... especially when places don’t accept Amex (which is most places) but you want to maximise on rewards and offers. The OH has 4, all are paid off in full each and every month but we get free flights, cash backs and the odd case of wine, his credit score is in the excellent range.

As ever though credit scoring is a dark art that nobody can predict, if your about to apply for a mortgage I would be careful of any drastic changes.

Unrelated to the score completely though.

Credit history and stability will improve though.

AJGuy

Credit history, repayment behaviour, credit balances etc is what determines a score. How is this unrelated?

[Deleted User]

Because the score isn’t used by lenders when making their lending decisions.

AJGuy

Understood, but it gives the OP a good idea if her credit file is getting stronger.