How many applications can be made and over what time period

ronniemould

Started stozzing last week - I've applied for 3 cards over the last week, all have had resonable credit limits although the 3rd was considerably less than the first two.

Anyway I was just wondering how many applications you can make within a certain time period before you start ringing alarm bells on your credit file.

Would I do better to wait X number of weeks or months before submitting another application or should I just keep going until I get refused?

CannyJock

ronniemould wrote: »

Started stozzing last week - I've applied for 3 cards over the last week, all have had resonable credit limits although the 3rd was considerably less than the first two.

Anyway I was just wondering how many applications you can make within a certain time period before you start ringing alarm bells on your credit file.

Would I do better to wait X number of weeks or months before submitting another application or should I just keep going until I get refused?

Personally I'd put in a load of applications then let your credit report cool down for a while, you will hit the refusal wall at some point. A reduction in credit limit being offered is an indicator but some card providers are known to be more generous than others.

Make sure you spread your applications over different card providers. I'm assuming you already have an Egg Money card or one of your applications is for one?

And you've checked your credit report with the free 30 day trial from Experian to make sure no surprises on it?

stevie_wonder

I'd be interested in any ideas on this.
I've just started stoozing-got £9k agreed on the Virgin Money card for 15 months. Have transferred the max out of that into my One Account mortgage (6.7%). I already have a tesco credit card with $4.5k limit which i use for any pruchases to get the clubcard points (fuel, food bills, any other purchases). I just wondered how many cards I'd be allowed to have?

LongTermLurker

Depends on your personal circumstances, but as CJ says, applying together means that your later applications will spot that there have been multiple searches, but at the search time, you're available credit hasn't increased. Still, I think 3 or 4 applications is enough and I would now hold off 3-6 months before doing it again. If you have high income and low mortgage/loan commitments then 5 or 6 cards in total should be easily possible.

Clearly, you also need to assess whether you are likely to need an important search (eg mortgage or car loan) to go through in the next 6 months before hammering your search history.

Mutton_Geoff

I got 9 cards in a short space of time at the beginning of the year but a couple of times more recently I have been rejected (Halifax & Amex). I have a decent salary, no other debts nor loans and no mortgage so it can only be my stoozes that are knobbling my latest applications.

Guess I'll have to wait a while longer, shame as I fancied the Amex 5% cashback for the Christmas shopping!

ronniemould

Right, been away for a bit but had my Egg Money card since they launched. Decided to go with the multiple hits approach.

I've so far received 3 cards (Barclays, Virgin, HSBC) with a cumalitive limit of £22,500, £19,250 of which I've stozzed against my offset mortgage.

I've also had applications provisionally accepted at Abbey (no limit yet) and Tesco (£3K) but not yet received the cards so seems the limits are dropping but not planning on remortgaging anytime soon so just going to keep going until I get refused - anyone got any tips on who to hit after the above?!?