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

ChihiroSen · 19 August 2018 at 1:08PM

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.

Willing2Learn · 19 August 2018 at 2:06PM

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.

[Deleted User] · 19 August 2018 at 4:33PM

So you have a CC you!!!8217;ve not used with £450 owing on it?

Presumably this has defaulted?

Emily_Joy · 19 August 2018 at 11:19PM

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.