2 credit cards, same company?

Tony94

Hi, apologies if this has been asked before. I have a credit card with sainsbury's with a 31 month 0% offer. The 0% is due to run out shortly and at this time the balance will be paid off in full. With another bigger purchase around the corner, I'm looking to open another credit card with a 0% intrest to 'start again' sort of speak. Is this possible with the same company (sainsburys) as I have a higher chance of approval through them. Also with no intentions of using the current credit card after the 0% offer has run out, is it better to close the card or keep it open, as I have read many conflicting stories.

Thanks in advance
Tony.

Willing2Learn

Hi Tony and welcome to the forum

Some card issuers allow a cardholder to have more than one account. But others do not. If it were me, I would phone them and ask...

ejc81

Tony94 wrote: »

I have a credit card with sainsbury's with a 31 month 0% offer.....

with no intentions of using the current credit card after the 0% offer has run out, is it better to close the card or keep it open, as I have read many conflicting stories.

Thanks in advance
Tony.

If you've only got this one credit card & you've only had it for 31 months then personally I would not close the account. The length of time you've had it will impact on your credit score, and 31 months isn't that long so I can't see an upside to closing it, IF it's the only one you have.

Also you might well find that once you've cleared the existing balance, another similar offer may well be available to you on this account, so no need to apply for another. Ring them when it's cleared and ask about available offers.

Se1Lad

My first 2 credit cards were both with Barclaycard back when you could get a visa and a mastercard with them. 6 years later I had 3 other credit cards from different providers who were all taken over by barclaycard, so I ended up with 5 different Barclaycards. None of them had a particularly high limit and they allowed me to consolidate the credit limit on one card and drop the other 4.

fewcloudy

Tony94 wrote: »

Hi, apologies if this has been asked before. I have a credit card with sainsbury's with a 31 month 0% offer. The 0% is due to run out shortly and at this time the balance will be paid off in full. With another bigger purchase around the corner, I'm looking to open another credit card with a 0% intrest to 'start again' sort of speak. Is this possible with the same company (sainsburys) as I have a higher chance of approval through them. Also with no intentions of using the current credit card after the 0% offer has run out, is it better to close the card or keep it open, as I have read many conflicting stories.

Thanks in advance
Tony.

I would keep it, can’t see any advantage in closing it.

I have a Santander Everyday Credit card, only because I successfully applied for a 0% balance transfer card with them a few years ago.
I also have a Santander Zero Credit Card for fee-free travel money when abroad.
So yes it is possible to have different cards with the same company.

Moneyminded

Sainsbury's don't allow you to have 2 credit cards with them so you would need to shut the other one down before applying. If you login to your online banking with them and click on the apply tab then credit cards it will say 'Just to let you know - you can only have one Sainsbury's Bank credit card so unfortunately you're not eligible to apply'