“always shop around to find the most suitable type of card for you, and then compare rates and offers to see which is best...”
Am I eligible for an introductory rate?
This all depends on a number of factors, namely your credit history. There are some lenders who specialise in people with a below average credit history, but, in general, the best introductory rates are offered to those with the best credit histories.
Each application you make for a credit card appears on your credit history – even if you’re turned down. Too many applications made close together can make you appear desperate to borrow, which can put lenders off when they check your credit history as part of their approval process.
Keep this in mind if you’re thinking of applying for a credit card with an extremely attractive introductory rate and your credit history isn’t in the best shape. There’s a fair chance you’ll be turned down, and this could act against you when you apply for a different credit card.
Always shop around to find the most suitable type of card for you, and then compare rates and offers to see which is best. You can use an eligibility calculator to get an idea of how likely it is you’ll be accepted for a particular card. Ocean QuickCheck lets you know if you’ll be accepted for our credit card before you apply – and it doesn’t leave a mark on your credit history.
Whether or not you’re applying for a new credit card, it’s important to check your credit history regularly to ensure everything is in order, especially if you’re thinking of applying for a form of credit at some point in the future. To do this, you can head to one of the three credit reference agencies; Equifax, Experian or Credit Karma.