• Registered: 2009-12-14
  • Posts: 3

Topic: How long should i take before re applying for a credit card

I was turned down by HSBC for a credit card about 6 months ago. They stated that if I left it for a few months and re applied they should be able to do something for me as my credit score wasn't high enough at that time, they said.

I have since taken out a Vanquis credit card and am paying that off in full each month to help boost my credit score a little.

My question is, how long should I continue with this Vanquis card ? I have paid off two balances in full so far, and the 3rd is due to come out at the end of this month. I was thinking having it for another couple of months and then close the thing down.

Any advice or suggestions appreciated

  • From: Essex
  • Registered: 2009-12-11
  • Posts: 12

Re: How long should i take before re applying for a credit card

Consider
Do you have any other long term contracts as some lenders like to see at least some evidence long term relationships and stability.
Also check out if there any negative effect of just keeping the card open?
Do you have to pay a dormancy fee?
if not then I would keep the Vanquis card for at least a year. It is not costing you anything if you pay in full each month (minimum finance charge excluded)

See  Compare Bank Accounts
See  Compare Credit Cards
See  Prepaid Cards
See  Travel Money Cards

compare's Website

  • Registered: 2009-12-14
  • Posts: 3

Re: How long should i take before re applying for a credit card

WOW thanks for the quick reply, your right will check it out and if no charges then i might as well keep it

Thanks

  • Registered: 2010-06-07
  • Posts: 1

Re: How long should i take before re applying for a credit card

Yes, you can keep the Vanquis card for an year if you do not have to pay a dormancy fee.

  • Registered: 2010-10-19
  • Posts: 2

Re: How long should i take before re applying for a credit card

wizzywig you can see here   Credit card vs debit card info about credit cards and statistics about it)  smile

  • From: Scunthorpe
  • Registered: 2011-01-07
  • Posts: 1

Re: How long should i take before re applying for a credit card

I applied for a credit card at my bank (Lloyds TSB) and was declined, I then went on to applying for more and continued to get declined for over 20 credit cards at different banks/companies, my credit rating it now under 400! - I logged on to experian to find this out and paid £6 for a credit check, they called me and told me if I wanted a credit card I should not apply for any loans/credit cards for the next 6 - 12 months, my credit rating should then be high enough to be approved for one.
I suppose an option would be to get a family member to take one out providing you'll definitly give them the money so they can pay it back.

  • Registered: 2011-01-24
  • Posts: 22

Re: How long should i take before re applying for a credit card

Can one credit card repay credit rating???? or the more the better???
Mobile Hairdresser

Mobile Hairdresser
  • From: Illinois
  • Registered: 2011-02-01
  • Posts: 3

Re: How long should i take before re applying for a credit card

Hi

Just wanted to share my 5 cent. I have applied for basicly all the cards that didn't have a minimum spend or dormancy fee. Main reason: long term commitment - it seems to be working at least for being able to show that you are stable.

Mobile-Hairdresser wrote:

Can one credit card repay credit rating???? or the more the better???
Mobile Hairdresser

  • kguru
  • New member
  • Offline
  • From: israel
  • Registered: 2011-02-10
  • Posts: 1

Re: How long should i take before re applying for a credit card

כל מי שמחפש קייטרינג מומן לפנות לקייטרינג גורו
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  • Registered: 2011-02-16
  • Posts: 6

Re: How long should i take before re applying for a credit card

Liam100 wrote:

I applied for a credit card at my bank (Lloyds TSB) and was declined, I then went on to applying for more and continued to get declined for over 20 credit cards at different banks/companies, my credit rating it now under 400! - I logged on to experian to find this out and paid £6 for a credit check, they called me and told me if I wanted a credit card I should not apply for any loans/credit cards for the next 6 - 12 months, my credit rating should then be high enough to be approved for one.
I suppose an option would be to get a family member to take one out providing you'll definitly give them the money so they can pay it back.

That doesn't sound nice... hmm Here in Finland we don't have a system like this but it looks like our banks are developing a system like that. I hope that it won't affect me too much!

  • Registered: 2011-05-13
  • Posts: 2

Re: How long should i take before re applying for a credit card

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  • Registered: 2011-06-08
  • Posts: 1

Re: How long should i take before re applying for a credit card

thank

  • Registered: 2011-03-14
  • Posts: 21

Re: How long should i take before re applying for a credit card

Chase credit card customer service, well-known for providing great quality service to their customers throughout the years. It has become an important part in the business.


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  • From: UK
  • Registered: 2011-06-28
  • Posts: 6

Re: How long should i take before re applying for a credit card

wizzywig, what I would like to add is that you should always compare credit cards before opting for one. Many credit cards will highlight the benefits of extra spending but I guess it is best to choose one is low on interest rates and has longer billing period as this gives you more time to pay each month.

  • Registered: 2011-09-07
  • Posts: 5

Re: How long should i take before re applying for a credit card

Hello friend, We must some information about credit card after that we can discuss about that.
I known some websites.
one of those:
www.creditcardhelperzone.com smile

  • From: New York
  • Registered: 2011-09-08
  • Posts: 1

Re: How long should i take before re applying for a credit card

Thanks for the valuable information. smile It will help me a lot.

  • Registered: 2011-09-01
  • Posts: 6

Re: How long should i take before re applying for a credit card

This are all great information for the credit card holders. url="http://www.chineseenergetics.com/"

  • Registered: 2011-02-28
  • Posts: 2

Re: How long should i take before re applying for a credit card

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  • From: Baton Rouge
  • Registered: 2011-10-12
  • Posts: 1

Re: How long should i take before re applying for a credit card

Interesting discussion. We don't have such restrictions in Baton Rouge though.

  • Registered: 2011-12-07
  • Posts: 1

Re: How long should i take before re applying for a credit card

wizzywig wrote:

I was turned down by HSBC for a credit card about 6 months ago. They stated that if I left it for a few months and re applied they should be able to do something for me as my credit score wasn't high enough at that time, they said.

I have since taken out a Vanquis credit card and am paying that off in full each month to help boost my credit score a little.

My question is, how long should I continue with this Vanquis card ? I have paid off two balances in full so far, and the 3rd is due to come out at the end of this month. I was thinking having it for another couple of months and then close the thing down.

Any advice or suggestions appreciated

good

  • Registered: 2012-02-02
  • Posts: 15

Re: How long should i take before re applying for a credit card

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