Which way is best to maximise stooze?

Bubblette_2

I am currently stoozing with 2 credit cards - a Halifax 0% purchases for 15 mths (2.2k limit) and a Abbey Zero 0% BT for 6 mths (2.185k limit). The Halifax one doesn't finish until next April, but the Abbey finishes beginning of November. This was my first time at stoozing and rather foolishly started off by getting too many credit card enquiries on my credit history (4) before settling with these two cards (and the credit limit I was offered went down with each enquiry...). These 4 enquiries will still be on my credit history when I need to BT from Abbey card, so here's my question:

Do I
1 - phone for another credit card before the Abbey card runs out to BT directly and have no time between cards, but run the risk of not getting a good credit limit, or

2 - pay off the Abbey card, wait until the 6 mths is up (another month max) to improve my credit history - will this increase credit limit so that I could poss BT not only from the Abbey card but also the Halifax card (which limit is not going to last me til April)?

Insight into the reasonings of credit limit setting would be most welcome!

CannyJock

4 enquiries isn't the end of the world if you've let things calm down for a few months.

Personally, I'd be tempted to put in an application for a Virgin Money card. They're backed by MBNA who are known to be reasonably generous with credit limit and IMO a few MBNA cards should be in every stoozers deck.

The limits you quote aren't huge but I reckon it's worth it. If it's rejected then you just have to repay your card and then wait a few more months before retrying.

There's a 2.98% fee for 15 months, working out at 2.384% APR. You can transfer 95% of your credit limit either to another card or direct to your bank (so any extra you stick in a high interest savings account or cash ISA until you need to use it to pay against your other card). Your first payment is 3% of the balance followed by 14 payments of only £ 25.