Applying for multiple cards
Comments
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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?:DLady G:eek::mad::rotfl:
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!:money::money:0 -
LadyGMadameToThee wrote: ». Does it impact heavily on your credit rating because you've made multiple applications at once?
Yes, it did on mine, so don't do it if you intend to get a new mortgage or re-mortgage.0 -
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
Why didn't you close these before applying for a the BT cards?0 -
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
Do any of these have BT fees?0 -
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?0 -
The_Urbanite wrote: »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?
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.0 -
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 £57750 -
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The_Urbanite wrote: »Thanks - hope I can cover the lot when the time comes!
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.0
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