Quick question:CapitalOne or Citi?

butterbeanmash

Sorry if the answer is somewhere already, but...

I've had a CapitalOne Classic (30.34%, £200 limit) for all of two months. I have a pretty poor credit history, though not in the last 5 or so years. I've been accepted for a Citi credit card (24.9%, £2000 limit). Is there any reason why I should stick with CapitalOne and decline the Citi card? I don't intend maintaining a balance, just rebuilding credit.

Thanks for any advice.

skyrider007

Keep the card for free Equifax credit reports and update service.

jimbo26

Keep the Cap 1 card for two reasons.

1. The free Equifax credit watch.

2. Put a small item on it each month and pay off the balance in full, this will help improve your credit rating.

skyrider007

jimbo26 wrote: »

1. The free Equifax credit watch.

2. Put a small item on it each month and pay off the balance in full, this will help improve your credit rating.

The first point is very good! I love that service.

butterbeanmash

Thanks all! So should I keep the Citi card too, or just cancel it? I can't remember if it has an annual fee.

skyrider007

Would be a bad idea to cancel a card with £2k limit and lower interest rate! Keep the Citi Card and use it as your main credit card, it will immensely help your credit rating. As far as I am concerned all of Citibank Credit Cards have no annual fee except Diners Club and the snobbish Ultima Card.

pdotie

skyrider007 wrote: »

Would be a bad idea to cancel a card with £2k limit and lower interest rate! Keep the Citi Card and use it as your main credit card, it will immensely help your credit rating. As far as I am concerned all of Citibank Credit Cards have no annual fee except Diners Club and the snobbish Ultima Card.

another card which attracts a charge is £25 per anum for the AAdvantage Card run by Citi for American Airlines.

P

battyboimatt

Yes the AAdvantage card has a £25 fee payable but free for the first year, I got it as whenever I go to America i fly American Airlines plus its 1 point for £1 5000 bonus points for getting the card, only need 60'000 miles for a trip whoo