As the economy falls deeper and deeper into the double dip recession, more people are finding that they are having to rely on credit cards to pay the bills.
And with banks and financial institutions more than ever before, carefully reassessing to whom they are lending, you could find that you are making several applications to credit lenders, before you are eventually accepted.
The problem is with multiple applications is that this actually damages your credit rating, as potential lenders can see your previous history of attempting to open a new credit card and not being accepted. They will begin to wonder why the first lender turned you down.
The more you apply the worse it gets until the very fact that you have applied so many times will count against you. It is a catch-22 situation. So how can you counteract this? Well there is a new credit card that will let you make an initial application that will not affect your credit rating if you apply.
What it does is tell you whether it thinks you are likely to succeed in your application before you go any further, thus saving you the chance of being rejected and ruining a perfectly good rating. So if it doesn’t look like you’ll be accepted, you’ve saved the time of making a full application and the potential harm to your credit rating of a failed application.
Instead, what they’ll do is use your rating and product acceptance criteria to suggest alternative products that you’re more likely to be accepted for.
The credit card is called Fluid and here are the details:
You could receive:
- 0% on balance transfers for 15 months from the date your account is opened (1.5% handling fee). For this great rate, any balances need to be transferred within the first 60 days of your account opening.
- 0% on money transfers for 15 months from the date your account is opened (4% handling fee).
- For this great rate, any money transfers need to be made within the first 60 days of your account opening.
- 0% on card purchases for 5 months from the date your account is opened.
- Apply with confidence – check if you are likely to be accepted before completing your application.
- Exclusive 30% off fluid travel insurance when you use your fluid card
The card gives you:
- Paperless statements: This account is set up with paperless statements only. To access your statements you will need to register for Online Card Services.
- You can manage your account easily and securely online.
- Contactless payments: You can pay quickly and securely for purchases under £20 without entering your PIN.
- We will send you more details with your card.
- Fraud protection: You will not be liable for fraudulent transactions online or on the high street (including Contactless transactions), providing you tell us as soon as you notice any unusual transactions, or you can’t find your card.
- No Annual Fee
- 24 hour UK-based customer service helpline – wherever you are worldwide, whenever you need them, our customer satisfaction representatives are just a phone call away.
The Fluid credit card uses a pre application that can save your time and your credit rating. It’s only currently available with this card.
You simply start your application and they use a unique credit rating technology to pre-check the likelihood of acceptance for a fluid credit card before you complete your full application and without affecting your credit rating. If it looks likely that you would be accepted, you can go on to complete your fluid application with confidence.
The full application will take a few more minutes and you should get an instant decision. Card features has been updated on this article to reflect changes on http://fluid.co.uk.
For an up-to-date information and changes to card’s terms and condition please visit http://fluid.co.uk/low-fee-balance-transfer-card/