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Can I apply for a balance transfer and a subprime card at the same time?

in Credit cards
5 replies 743 views
ChihiroSenChihiroSen Forumite
38 Posts
Tenth Anniversary 10 Posts Combo Breaker
Forumite
Hi,

I am in need of a credit card to create a good credit history. I do not have a bad one only a lack of one.
I used to have a HSBC credit card which I didn't use for ages and was shut down, I asked for it back but they said no... couldn't get a reason, maybe because i work part time not full???
I have £450 to pay off on that and have never missed a payment but am only paying minimum, so I want to transfer it to a 0% so I can pay it off quickly.

I also need a credit card to shop with to improve my credit rating, as I don't have much of a history of using credit.

In the eligibility searches I coming up as likely to be approved for aqua cards and a few of the balance transfer cards.

Can I apply for both? Or should I pick one, if so which one?

I can manage my spending on both without getting into further debt.

Replies

  • You can apply for both at the same time...No harm in that...But remember, the best way to use a card is to only spend on it according to your monthly budget. And pay it off in full, after the statement is received, and before the due date. A Direct Debit for the full balance is probably the best method of payment.
    I work within the voluntary sector, supporting vulnerable people to rebuild their lives.

    I love my job

    :smiley:
  • [Deleted User][Deleted User] Forumite
    0 Posts
    Newbie
    So you have a CC you!!!8217;ve not used with £450 owing on it?

    Presumably this has defaulted?
  • Emily_JoyEmily_Joy Forumite
    584 Posts
    Fourth Anniversary 500 Posts
    Forumite
    Based on what you said you have a very poor credit history. First of all it sounds like you have a sequence of minimum payment markers for years. I don't think the account has defaulted as you were making minimum payments which means you have acknowledged the debt. The last thing you need is a new credit card... The first thing to do is to clear off the current card by increasing monthly payments.
  • alfred64alfred64 Forumite
    5K Posts
    Part of the Furniture 1,000 Posts
    Forumite
    Fluid credit card 0% for 10 months offer ends 31st Jan

    May be suitable for those with less than perfect credit history.
  • [Deleted User][Deleted User] Forumite
    0 Posts
    Newbie
    alfred64 wrote: »
    Fluid credit card 0% for 10 months offer ends 31st Jan

    May be suitable for those with less than perfect credit history.

    5 month old post...
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