do 0% cards crucify your credit rating?

Hate · 28 Apr 2006 at 17:06

here is the story...

I've only had my student mastercard since I was 18 (24 now) and hardly used it.
In order to help fund my next car purchase, I got a 0% EGG card 2 months ago and put £2000 on it.

This is now being paid off at rates of £500 per month until its closed. The card has now been cut up.

Now, i'm moving house in a couple of months, my current cashflow would look a bit wobbly after paying deposits, rent and buying furnature.

If I were to get a 2nd 0% card (i only need £1000 or so) in a couple of months (after the egg balance had cleared) in order to help me move and buy furnature would my credit rating go through the floor?

I indend to pay the card off completely within 3 months and cut it up like i did my egg...

Hate · 28 Apr 2006 at 17:18

yeah, this would be the last time in a long time that I would do it, then again, £1000 over 3 months on 14%APR isn't too painful either...

I can afford the lump payment, I just rather wouldn't incase something comes up!

Hate · 28 Apr 2006 at 17:33

i dont know anyone that will loan a grand over 3 months, and if they do their interest is gonna be about 15%, same as my empty mastercard

Hate · 28 Apr 2006 at 18:07

I think I will shove it all on my student mastercard, I rarely use it and an extra 50 or so quid charged won't do me any harm over 3-4 months.

plus it saves the hassle of applying for another card, and might even make my rating improve cause I would have been paying interest.

I just don't like seeing minus numbers on my online banking >_<