help needed, please!

mstar

i am currently about to move into my new house (my mortgage is on my and wife name)
i have a balance of 6k on my Mbna CC credit limit of 7k (i reduced this from 15k) and i also have a llyodstsb mastercard CC (credit limit of 15k I pay balance in full every month) with my bank. My wife has not had a credit card for over 1 year. I am the higher earner by 16k. My question is that we would like to take advantage of the 0% balance transfer deals (as the mbna cc is coming to an end) do you agree that my wife should apply rather then me? as i have 2 CC already (but i will stop the MBNA after balance transfer) and i can transfer my CC balance to the card she has applied to? She has 2 accounts Natwest and FirstDirect I was thinking she should try them first for a CC.

what do you ppl think? any help much appreciated :-)

belfastgirl23

I'm no expert but I don't think how many CCs you have has any bearing on any new applications, it's probably how much debt you have on them. And at a guess from what you say your income is high enough that your debt doesn't look too bad. Why not do a free credit check on both you and your wife to see if anything shows up? Experian are doing a free month's trial and if you go through quidco you get cash back as well. I also don't really understand why you'd think you should go via your wife's bank as far as I know they aren't doing 0% deals?? And indeed your wife might find it harder to get a card if she hasn't had one....and if her income is substantially lower than yours.

And I'm old fashioned enough to think if they're your debts it's generally best if they stay in your name since this kind of thing can cause havoc in relationships or indeed if something were to happen either of you. But feel free to ignore if you want since this isn't strictly a money argument...

PS should say I currently have 4 credit cards with around £15k of debt for stoozing...so I've not had any problems with multiple cards

mstar

thanks yes true i suppose my logic was as the CC is on my name my wife has had no credit card/history for over 1 year (only our joint morgage application) she would of been more "attractive" for CC providers? she is on 29k i am on 46k (with 15k limit on one card zero balance at moment and 6k on the other) if i apply for another thats 3 CC which might be a bit OTT? and i may get rejected or am i worrying to much and apply myself?

CLAPTON

just be careful... buying house is very expensive and its very easy to over spend on CC and regret it later.

mstar

so is it best (considering my posts) that i should apply as i have a better chance of getting accepted?

willie1867

I cant tell you that i am a money saving expert but have been using 0% cc deals for some years.. unfortunately now i am seperating from my wife i have the problem of sorting out which cards are still active and if they are mine or my wifes. So my advice would be get the new c card in your name if they are your debts.

Bismarck

a-ha...Clapton...

the Curse of the Soft-furnishings.....cavemen didn't realise how lucky they were to not have an Ikea or a Debenhams near the woolly mammoth hunting ground so that yet to be hard-earned mammoth joints could be exchanged for rugs to make the cave more attractive....

mstar

good point willie but me and my wife are very together :-) in simple terms would i have a problem getting another card? i mean i have a 6k debt already and a credit search for a mortgage 2 months ago.

but my wife has no credit history for over 1 year just a mortgage app credit search i suppose

mstar

anyone? any help

CLAPTON

basically
if your wife hasn't had a credit search for over a year and now has one that's refused, it will do no harm to her credit record (it simply shows as a search) although it might offend her pride.

if you have had only one search recently then again one more will do you no harm.

so if you are determined to get more credit then it makes no difference whether either or both apply.

mstar

thanks i am basically trying to see who would be more likely to be accepted. If my wife does it (no credit history, 1 mortgage app search) me (1 search for mortgage and debt of 6k and another CC with limit of 15k) if i applied would it be likely not getting accpeted? as then i have 3 CC cards!