When new providers check your credit file, it can look like you have lots of cards already or that no one else wants to lend to you.įind out more about your credit rating and how lenders decide to give you credit. Your file will also show if an application is refused. Each time you make an application it’s recorded on your credit file. If you’ve applied for credit cards beforeĪpplying for too many cards or regularly switching cards can affect your credit rating. Don’t forget to make sure you can afford a regular repayment.įor more information about how to choose credit, see Getting the best credit deal. In this case, you may want to choose a card with a lower interest rate. If you want to use the card for borrowing and you won’t be paying off the balance each month, you will usually have to pay interest. Even if you think you will be able to pay the balance in full each time, it’s worth planning what you’ll do if you can’t. In this case, the interest rate may not be so important but you may want to look at cards with other incentives like cash back. If you can pay the balance off in full and on time each month, you can take advantage of the interest free period. However you choose to use your card, the key thing is whether you will be paying off what you owe every month or spreading repayments over a period. This could be to buy things on line or on holiday, to pay your bills or to spread the cost of a purchase. Start by thinking about what you want to use the credit card for. There are hundreds of credit cards available, so shop around to get the one that suits you best. It tells you what happens when you apply for a credit card and what you can do if your application is refused. This page tells you what to look out for when choosing a credit card including comparing cards.
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