Higher APR Credit Card Advise?

wmat983 · 19 February 2019 at 2:47PM

Hi guys I applied for a 0% barclay card in which I was refused but offered another card which was about 26%APR. It said they wouldn't need to do another credit search as done one already.

I initially declined the card as there was no point due to rate but now decided I may as well accept the card as the credit search as already gone on my report. I have no idea why but Barclay card always seem to refuse me but all others I have no problem with always get accepted for the best deals.

I will get card and use it by spending and paying off in full each month, my thinking would be this will improve my credit rating over time and maybe gain some trust with Barclays in the future and may get offered 0% cards.

Would you say I made the right move accepting the card rather than declining it like I initially done?

[Deleted User] · 19 February 2019 at 2:49PM

No harm in accepting it, unless you have excessively large limits across all your cards and other borrowing.

onlyfoolsandparking · 19 February 2019 at 2:52PM

Absolutely you should accept the card, I believe people who are unhappy with what they have been given by the card companies and then go on to refuse it do themselves no favours.

If you are going to pay off in full every month then it doesn't matter what your interest rate is, also I'm not quite understanding your first paragraph you said you applied for a 0% card so was this a BT card? then you say you were declined for that but was offered a card at 26% APR so was that just a standard nothing coming with it card?

wmat983 · 19 February 2019 at 3:17PM

onlyfoolsandparking wrote: »

Absolutely you should accept the card, I believe people who are unhappy with what they have been given by the card companies and then go on to refuse it do themselves no favours.

If you are going to pay off in full every month then it doesn't matter what your interest rate is, also I'm not quite understanding your first paragraph you said you applied for a 0% card so was this a BT card? then you say you were declined for that but was offered a card at 26% APR so was that just a standard nothing coming with it card?

I basically applied for an 18 month 0% BT card, I got refused but offered another card which was at a rate of 26% APR, I clicked refuse offer. I think thought about it and thought the credit search would have a negative impact anyway, I may as well phone them up and see if I can change and accept which I done. I thought...

1) Should boost credit rating faster.
2) Maybe gain some trust with Barclays for future.

onlyfoolsandparking · 19 February 2019 at 3:31PM

So the other card at 26% APR is just that with no 0% deal attached to it?

Having clicked refuse, you could ring them up and state you made a mistake and meant to click accept, that should resolve that side of it and then yes to questions 1) and 2)

I like Barclaycard they are good for offers (not for you yet) decent credit limits and online accounts pretty straightforward to use, make extra payments etc.

If you run the account well you will get a 0% offer in the future and you will end up with a decent limit, cant say how long those will take every ones financial circumstances are different but out of all the cards I use Barclaycard are definitely one of the better ones.

wmat983 · 19 February 2019 at 4:45PM

onlyfoolsandparking wrote: »

So the other card at 26% APR is just that with no 0% deal attached to it?

Having clicked refuse, you could ring them up and state you made a mistake and meant to click accept, that should resolve that side of it and then yes to questions 1) and 2)

I like Barclaycard they are good for offers (not for you yet) decent credit limits and online accounts pretty straightforward to use, make extra payments etc.

If you run the account well you will get a 0% offer in the future and you will end up with a decent limit, cant say how long those will take every ones financial circumstances are different but out of all the cards I use Barclaycard are definitely one of the better ones.

Yes this is what I done, I called them back and said I would like to re-consider, they said that was fine and would send something out for me to sign in the post then they would send card out.

Yes I am hoping they will see I am a good customer and hopefully offer me some better deals in the future! :j

Terry_Towelling · 19 February 2019 at 8:49PM

Something to consider; if you use your Barclaycard but don't clear it in full each month and pay interest, there is less likelihood of being given decent offers from them in the future - they will already be making money out of you.

If you pay in full each month and never pay interest, their income from you is severely curtailed and they will probably start to make offers such as increased credit limits and 0% balance transfers for, say, a 1.9% fee. That will be their way of encouraging more of your debt onto their books. They get a 1.9% fee and the prospect that the debt will not be cleared within the interest-free period and they may then start to make more money from you.

Claddagh_Noir · 19 February 2019 at 10:42PM

Nothing wrong in accepting the card. You can build your credit rating by paying on time and in full each month.

wmat983 · 19 February 2019 at 11:00PM

Terry_Towelling wrote: »

Something to consider; if you use your Barclaycard but don't clear it in full each month and pay interest, there is less likelihood of being given decent offers from them in the future - they will already be making money out of you.

If you pay in full each month and never pay interest, their income from you is severely curtailed and they will probably start to make offers such as increased credit limits and 0% balance transfers for, say, a 1.9% fee. That will be their way of encouraging more of your debt onto their books. They get a 1.9% fee and the prospect that the debt will not be cleared within the interest-free period and they may then start to make more money from you.

I never looked at it this way, it does make sense though, I think I will try this out!

Higher APR Credit Card Advise?

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