I am looking to get a credit card for an engagement ring but i am wondering if i should go with my existing bank (Santander) or choose another company.
I am looking to purchase a ring for around £4,000, i know this is expensive but it is a decision i have made for the ring i want.
I currently have 1 credit card with Santander (123 casback card) which i have had for close to three years. with a credit limit of £6,200 i maxed it for a short period as i bought my first home and needed totally redoing. This was paid off in full before the interest free offer ended.
I earn £40,000 per year i have £15,000 in a savings account but that is a joint account with my girlfriend so cant take the funds from there and currently have £5,500 in shares that are easily acccesible but i would prefer not to cash them out as i am getting performance & matching shares each month through work.
I have never had any missed payments and on moneysaving credit club i have 999 on experian, very good for loan affordability, good for credit card affordability and 99% credit hit rate. In addition to this i also have 100% accepted on MBNA – up to 30 months 0% on spending and 100% on Nuba – up to 30 months 0% on spending.
If i go for the Santander everday credit card i would need to purchase within 3 months but this would be sufficient.
Could anyone advise if i am likely to get a credit limit around the £4,000 mark with a new company or would i be safer going with Santander as i have history there?
I am also thinking Santander would be wary that i have £6,200 worth of credit and i am asking for a new credit card for 0% on purchases
Thanks for your help.