Worth applying?

BurningSnowman

Hi there!

I'm 18 and have had a credit card with Nationwide for 2 or 3 months. I've kept it paid in full and have a £1500 limit, which I assume is the 'default' for the account. Being in education I just have a very low income from part-time work.

Obviously it's a pretty limited history, but I've read the Egg Money card is relatively easy to get and would like the 1% cashback. So I'm wondering if anyone has some idea how easy is easy, and whether I would have any chance of being accepted for this card? Being rejected for a card now seems like it would be a pretty bad start on my credit history.

Obviously it's speculation, but any ideas on my chances would be very much appreciated!

Money_Man

Based on what you have said I would say your application is "likely" to be declined. I would wait until you have built up some more payment history on your current card or your circumstances change. You could always apply, even if you application is declined this will not have too negative impact on your credit file or your ability to get finance in the future.

benf90

I'd agree with Money Man, it may be best just to wait a bit longer to build up a bit more history on your credit file.

I have an Egg Money account and my application was approved based on my part time income (I'm a student aswell).

But, I was 20 when I applied for the card and I'd had the normal Egg Card (non-cashback) for around two years (it was my first credit card but the balance was always cleared in full every month). Although I was a student I was already a customer so had built up a good history with them.

BurningSnowman

Okay, thanks very much for the replies! Think I'll leave it for now and hopefully have a better shot later on.