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  • FIRST POST
    • swindiff
    • By swindiff 7th May 16, 9:40 PM
    • 246Posts
    • 77Thanks
    swindiff
    Applying for multiple cards
    • #1
    • 7th May 16, 9:40 PM
    Applying for multiple cards 7th May 16 at 9:40 PM
    Just though I would post my experience on creating a stooze pot. I have applied for 8 cards this weekend, outcome as follows.

    Clydesdale Bank 0% on purchases for 26 months. Application approved, limit unknown until I receive my card.

    MBNA 40 Months 0% balance transfer, transfer fee 2.55%. Application approved, credit limit £10,000

    Barclaycard 20 Months 0% balance transfer, no transfer fee. Application approved, credit limit £8,200

    Bank of Scotland 39 months 0% balance transfer, transfer fee 2.95%. Application approved, credit limit £8,000

    Halifax 39 months 0% balance transfer, transfer fee 2.48%. Application approved, credit limit £1,600

    Tesco 40 months 0% balance transfer, transfer fee 2.69%. Application approved, credit limit unknown until I receive my card.

    Virgin 40 months 0% balance transfer, transfer fee 2.49%. Awaiting to see if application is approved.

    AA 22 months 0% balance transfer, no transfer fee. Awaiting to see if application is approved.

    Existing cards that I already hold are:

    Halifax Clarity, Balance £0, credit limit was £8450, I asked for it to be increased to £12,000 and they incresed it to £10,450

    Virgin Card at 0% credit limit £7,000, balance £1,500

    Lloyds Card at 0% credit limit £10,800, balance £4,000
Page 4
    • ben166
    • By ben166 24th May 17, 11:58 AM
    • 2 Posts
    • 2 Thanks
    ben166
    Hi all




    I thought I might share my experience with my latest bout of multiple applications:


    Credit cards BEFORE applying for multiple: (nil balances on all as I had recently completed on the above mortgage)


    Card and limits:


    Barclaycard - 13,000


    MBNA – 6,000


    BA Amex – 12,000


    Tesco clubcard CC – 13,000





    AFTER (additional cards obtained to the above) All on 0% BT deals – using MBNA card as the mule card for money transfers:


    TSB – 9,500


    Amex preferred gold card (charge card)


    Barclaycard platinum – 4,000


    Lloyds bank – 3,000


    Bank of Scotland – 3,000


    Halifax – 3,500


    Tesco clubcard CC (2nd) – 3,500


    HSBC BT card – 5,500


    M&S BT card – 2,000



    REJECTED for – Virgin BT card, MBNA BT card (offered a deal not worth it so didn’t apply), Sainsbury’s, Santander, AA.



    I couldn’t see any other cards out there worth applying for!


    Situation before applying:

    Experian Credit score – Excellent (999)


    Income: £60k – no dependents - £500pm mortgage.
    • LadyGMadameToThee
    • By LadyGMadameToThee 25th May 17, 10:59 AM
    • 52 Posts
    • 46 Thanks
    LadyGMadameToThee
    Wow
    I've never heard of stoozing today and I've always considered myself to be a bit economically literate about stuff like this but I think I ndersand what stoozing is and I would like to give it a go. Does it impact heavily on your credit rating because you've made multiple applications at once?
    Lady G


    Life is too short to be serious all of the time. So, if you can't laugh at yourself, call me - and I'll laugh at you!
    • SuzieSue
    • By SuzieSue 26th May 17, 9:09 PM
    • 3,606 Posts
    • 3,927 Thanks
    SuzieSue
    . Does it impact heavily on your credit rating because you've made multiple applications at once?
    Originally posted by LadyGMadameToThee
    Yes, it did on mine, so don't do it if you intend to get a new mortgage or re-mortgage.
    • SuzieSue
    • By SuzieSue 26th May 17, 9:12 PM
    • 3,606 Posts
    • 3,927 Thanks
    SuzieSue
    Hi all




    I thought I might share my experience with my latest bout of multiple applications:


    Credit cards BEFORE applying for multiple: (nil balances on all as I had recently completed on the above mortgage)


    Card and limits:


    Barclaycard - 13,000


    BA Amex – 12,000


    Tesco clubcard CC – 13,000
    Originally posted by ben166
    Why didn't you close these before applying for a the BT cards?
    • SuzieSue
    • By SuzieSue 26th May 17, 9:13 PM
    • 3,606 Posts
    • 3,927 Thanks
    SuzieSue


    AFTER (additional cards obtained to the above) All on 0% BT deals – using MBNA card as the mule card for money transfers:


    TSB – 9,500


    Amex preferred gold card (charge card)


    Barclaycard platinum – 4,000


    Lloyds bank – 3,000


    Bank of Scotland – 3,000


    Halifax – 3,500


    Tesco clubcard CC (2nd) – 3,500


    HSBC BT card – 5,500


    M&S BT card – 2,000


    Originally posted by ben166
    Do any of these have BT fees?
    • SuzieSue
    • By SuzieSue 26th May 17, 9:15 PM
    • 3,606 Posts
    • 3,927 Thanks
    SuzieSue
    Experian Credit score – Excellent (999)


    [FONT=Calibri]
    Originally posted by ben166
    Please update this thread to let us know what your credit score is in 3 months' time.
    • The Urbanite
    • By The Urbanite 30th Jun 17, 12:32 AM
    • 99 Posts
    • 38 Thanks
    The Urbanite
    I've joined in the stoozing game. I effectively slow stooze, as I only deal with 0% purchases cards rather than balance transfers to avoid paying fees. I have the following cards pretty much maxed out at 0%;

    Barclaycard - £22k
    Amex - £12k
    Creation - £5k
    AA - £5k
    Tesco - £3.5k

    What's the best way to retain the stooze pot, without having to drain the cards again?
    • SuzieSue
    • By SuzieSue 30th Jun 17, 8:50 AM
    • 3,606 Posts
    • 3,927 Thanks
    SuzieSue
    I've joined in the stoozing game. I effectively slow stooze, as I only deal with 0% purchases cards rather than balance transfers to avoid paying fees. I have the following cards pretty much maxed out at 0%;

    Barclaycard - £22k
    Amex - £12k
    Creation - £5k
    AA - £5k
    Tesco - £3.5k

    What's the best way to retain the stooze pot, without having to drain the cards again?
    Originally posted by The Urbanite
    There are lots of no fee 0% balance transfer cards on the market, most for at least 24 months. Look on MSE for the details.
    • DeterminedSingleMummy
    • By DeterminedSingleMummy 30th Jun 17, 9:23 PM
    • 173 Posts
    • 776 Thanks
    DeterminedSingleMummy
    Wow so much great info on here. I slow stoozed on 0% purchases and then use 0% fee free BT when the first 0% finishes so I've never paid interest to any credit card company. I've never really kept track either what interest I've made from them. I hope companies will keep giving me BT Cards so I can prolong my stoozed as long as possible.

    I have been using the stoozed money to over pay my mortgage (and therefore saving interest) and then putting the money back into the stoozed pot at a later date so when the 0% ends the money is there just in case I can't balance transfer.
    Balance at start of mortgage Dec 2011 £87500
    1 Jan 2015 = £73,735 Overpayments = £3,360 (average £280 p/m)
    1 Jan 2016 = £66,558 Overpayments = £4,770 (average £397.50 p/m)
    1 Jan 2017 = £57,756 Overpayments so far Jan £0 Feb £550 Mar £3022 April £690 May £1513 total £5775
    • The Urbanite
    • By The Urbanite 30th Jun 17, 11:45 PM
    • 99 Posts
    • 38 Thanks
    The Urbanite
    There are lots of no fee 0% balance transfer cards on the market, most for at least 24 months. Look on MSE for the details.
    Originally posted by SuzieSue
    Thanks - hope I can cover the lot when the time comes!
    • SuzieSue
    • By SuzieSue 1st Jul 17, 8:50 AM
    • 3,606 Posts
    • 3,927 Thanks
    SuzieSue
    Thanks - hope I can cover the lot when the time comes!
    Originally posted by The Urbanite
    It depends how much you earn. You have a lot of credit already so you are less likely to get high credit limits on future applications.
    • The Urbanite
    • By The Urbanite 1st Jul 17, 11:14 AM
    • 99 Posts
    • 38 Thanks
    The Urbanite
    It depends how much you earn. You have a lot of credit already so you are less likely to get high credit limits on future applications.
    Originally posted by SuzieSue
    Those are the tip of the iceberg - got a fair amount more on other airline/hotel points credit cards. I'll give it a go and hope not to get a flurry of rejections!
    • SuzieSue
    • By SuzieSue 1st Jul 17, 11:24 AM
    • 3,606 Posts
    • 3,927 Thanks
    SuzieSue
    Those are the tip of the iceberg - got a fair amount more on other airline/hotel points credit cards. I'll give it a go and hope not to get a flurry of rejections!
    Originally posted by The Urbanite
    I would reduce the credit limits of any cards you don't use much and wait a couple of months and then apply for more cards.

    Have you checked your credit rating on Noddle or Experian (you get free access to your Experian rating if you have a Barclaycard)?

    I got slightly less credit than you did on your 0% purchase cards but my credit ratings on Noddle and Experian went down to poor. I also had other cards for points with quite high credit limits.
    • Beat_The_Banker
    • By Beat_The_Banker 29th Jul 17, 5:07 PM
    • 3 Posts
    • 0 Thanks
    Beat_The_Banker
    Any updates to this thread, seems to have gone quite- I am looking to do a multiple apps in a month or so and would like anyone to post up their experiances as other previous posters have done......
    • SuzieSue
    • By SuzieSue 4th Aug 17, 9:30 PM
    • 3,606 Posts
    • 3,927 Thanks
    SuzieSue
    Any updates to this thread, seems to have gone quite- I am looking to do a multiple apps in a month or so and would like anyone to post up their experiances as other previous posters have done......
    Originally posted by Beat_The_Banker
    Further to my earlier post (#34) last year, my husband applied for 6 0% BT cards all on the same day a few weeks ago and was accepted for all of them most with decent credit limits (between £5k and £12k).
    • Sad_Dad
    • By Sad_Dad 7th Aug 17, 9:46 PM
    • 769 Posts
    • 11,589 Thanks
    Sad_Dad
    I applied for 8 cards today for my wife who is a 'homemaker' with a small income. I used the MSE eligibility checker to select the cards she was most likely to be accepted with.

    One instant rejection from the Post Office.
    Waiting to hear from M&S, Sainsburys (3k estimated CL) and Barclays (she already has a card with them with 8.5k CL so I'm hoping she is accepted and we can merge the limits).
    Accepted for Tesco, Halifax, Bank of Scotland and Santander (she has current accounts with all 4 of these).
    Halifax credit limit is £2200 whereas Bank of Scotland have given her £5500 even though the application form/questions are exactly the same. The higher BoS limit could be because she has 3 vantage accounts that have had high average balances until recently.
    • Mogley
    • By Mogley 8th Aug 17, 2:02 PM
    • 197 Posts
    • 168 Thanks
    Mogley
    I have applied for quite a bit of credit in the last few months and so my experience of credit card applications is as follows:
    up to 11/04/17 - no credit cards. My previous credit included a bank loan for £5.5k paid in full. Credit at the time included HP car finance £8.5k, furniture finance £360 and joint mortgage £700/month (£132k). I have a financial association with my OH who has credit and store cards that are paid in full.
    On 11/04/17 - Two credit card applications
    MBNA - 0% purchases for 29months. £7.5k limit. To be used for slow stooze.
    Virgin - 0% on money transfer for 32months. £8.3k limit 2.5% fee. To be used to pay car finance.
    I was surprised at these limits for my first applications.

    07/07/17 - A money transfer offer came in from my MBNA card, 0 fee , 4.9%APR. I decided to apply for Balance transfer cards to quickly build a stooze pot.
    Tesco BT Card - 0% zero fee for 24months. £8.1k limit.
    11/07/17
    Barclaycard BT - 0% zero fee for 24months. £11k limit.
    12/07/17
    Halifax BT - 0% zero fee for 14 months. £2.4k limit.
    This was advertised/promoted at 27 months but they offered me the reduced promotional period. I saw this as a warning about applying for any further credit.
    18/07/17 - I bank with Co-op and thought I would stand a good chance so....
    Co-op BT - 0% with 1% fee for 24 months. £7.5k limit

    Total credit limit = £44.5k
    Balance on all cards (today) = £32.1k
    Salary = £48k/yr

    I shall wait and see how this effects my credit profile however I am not planning on applying for any major loans or re-mortgaging in the next couple of years for it to cause too much concern.
    No.25 for 2017 £1070/£4000 saved.
    You should pay attention to the needs of the moment - otherwise there is no future. But to ignore the future is foolish - living solely for the moment leaves nothing for when the next moment arrives.
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