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How long should I leave between credit card applications?
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jshape
Posts: 2 Newbie
in Credit cards
Have been following Martin's advice about balance transfers, and have just this week got a new long-term 0% card to do this. I am now looking at getting a new card for purchases.
The standard advice seems to be not to make too many applications for credit in a short space of time as these leave 'footprints' on your credit record; what I want to know is how short a space of time is recommended? A week apart? A month? Am not planning on doing anything else that would impact my rating anytime soon, just getting a new card.
My credit rating (when I last checked with Experian a few months ago) is good.
Thanks!
(Hello all, first post from a short-time lurker. Have had a quick look for the answer to this question but couldn't see it. Apologies if it's been answered a million times already. )
The standard advice seems to be not to make too many applications for credit in a short space of time as these leave 'footprints' on your credit record; what I want to know is how short a space of time is recommended? A week apart? A month? Am not planning on doing anything else that would impact my rating anytime soon, just getting a new card.
My credit rating (when I last checked with Experian a few months ago) is good.
Thanks!
(Hello all, first post from a short-time lurker. Have had a quick look for the answer to this question but couldn't see it. Apologies if it's been answered a million times already. )
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Comments
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It's not so much how long you leave but how many accepted and live credit facilities you have.
Multiple searches tend to be referred and reviewed manually by an underwriter, I would do a number of searches every 2/3 month so the underwriter can see if the prev searches then went on to becoming a live account.0 -
Personally, I'd put in an application for the purchase card sooner rather than later. Waiting a week or a month won't make any difference. A half dozen applications in a month will affect things. 2 in a month won't when your credit report has been otherwise dormant.
Spreading your applications around different card providers will help you get the credit limit you're looking for.
You looking for a 0% purchase card or a reward card?"A child of five could understand this. Fetch me a child of five." - Groucho Marx0 -
Congratulations on getting accepted for a 0% BT card.
:beer:Personally, I'd put in an application for the purchase card sooner rather than later. Waiting a week or a month won't make any difference ... when your credit report has been otherwise dormant.
I agree. Other things being equal, there's no time like the present, IMO
This table on the stoozing site (which is sponsored by Money Saving Expert) should help:
http://www.stoozing.com/purchases.phpPeople who don't know their rights, don't actually have those rights.0 -
I generally wait for 6 months between applications, but if it's a one off two in a month won't hurt.0
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Thanks everybody!0
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