stoozing MBNA cards clarification

happyhero

Can anybody advise me. Started stoozing, got EGG, and FD who I understand do not reveal anything to the credit agencies, ideal for stoozers.

Looking for another card but want to keep a few of the good ones for 6 months time to cover my current stoozed.

Whats the situation with the MBNA cards? If I take one now will I be able to get another later or are all MBNA cards like one company and therefore it would be like going to the same companie twice?

Basically what I am asking is:- Abbey and Virgin are both MBNA cards could I apply to both and get two cards like two different companies or not?

Also similar what about HSBC and FD?

If not at the same time what about 6 months apart?

Yes I could take MINT but like I said I'm saving some good ones for 6 months time to cover my large stooz with them hopefully.

Any experiences or guidance welcome.

Clariman

It seems quite common for MBNA to let people have up to 3 of their cards e.g. MBNA, Virgin and Abbey. However, you will not get a £20K limit on each of them ! I have 2 MBNA cards. The first one I got was a Platinum card with a limit of £21K. The second was an Abbey card and a limit of about £7K.

Although they are like to 2 cards from separate companies they will not let you BT between them.

Clariman

deemy2004

You can get multiple MBNA administrated cards, but they will take into account existing MBNA credit limits on giving you lower credit limits for subsquent cards.

Its best to keep to no more than three MBNA administered cards, as the credit limit on the fourth card may be peanuts

GH

I have just been refused a Virgin card , having held an MBNA Platinum Plus for about 2 months with a £15k limit and a balance of just over £14k (being looked after by ERNIE!). They said they would consider me once my current MBNA card had been running for 6 months.

hoyin

I applied for about 4 MBNA credit cards.

After they issued the first one they rang me and said we also see you want 3 more.

They were only willing to split the credit over the 3 cards .. hence I would not gain anything by having all 3.

So I only took one extra one to give me the same total credit spread over 2 cards at 10K.

Therefore 5K on each card.

How are people getting 21k credit limits?????

johnllew

How are people getting 21k credit limits?????

Mine was built up over time. I think they're a bit stingier with their cards and credit limits these days. When I had my first MBNA card over 10 years ago, they used to offer me additional ones with the enticement of free bottles of wine - natually enough I took them up.

Clariman

How are people getting 21k credit limits?????

It was me who mentioned a 21K MBNA limit, so happy to answer. I guess it was down to a combination of good salary, low credit risk and a faultless credit record for many years. Maybe also to allow me to BT other cards with high-ish limits.

Clariman

hoyin

It was me who mentioned a 21K MBNA limit, so happy to answer. I guess it was down to a combination of good salary, low credit risk and a faultless credit record for many years. Maybe also to allow me to BT other cards with high-ish limits.

Clariman

Humm .. well i have a faultless credit record, probably a zero credit risk .. (how do they judge anyway?) I have no debts no mortgage etc.

My salary though not amazing is not too bad.

Perhaps it is my age? I am under 30. But even then I am not a youngster ...

Clariman

Humm .. well i have a faultless credit record, probably a zero credit risk .. (how do they judge anyway?) I have no debts no mortgage etc.

My salary though not amazing is not too bad.

Perhaps it is my age? I am under 30. But even then I am not a youngster ...

Well I'm on my 40s so I guess I have built up a good credit record over many years - particularly in the last 5 or so. I see from your earlier post that you applied for 4 MBNA cards at the same time. That might look like panic or desperation to the lenders i.e. someone who is in financial trouble and is needing more lines of credit very quickly.

Lenders use the credit reference agencies (mainly Experian but also Equifax) to check your credit history. All lenders will see what cards and loans you have and when you applied for them. 4 credit checks within a short time is not advisable (see above). I don't think that I have ever applied for credit more than twice in one month. If you have recently applied for 4 or more then I would lie low for a while and start applying for a couple of cards in February or March.

Don't be too disheartened though because you have been given £20K from one lender (MBNA). That is pretty good you know. When I applied for my MBNA card (only 1) they gave me £21K so that is not much different. It was only after a good 6 months or so did I apply for another one of their cards (abbey) but only got a £7K limit.

Clariman

Reaper

i have a faultless credit record, probably a zero credit risk .. (how do they judge anyway?) I have no debts no mortgage etc.

That's your problem then. Lenders want you to have existing debts because then they can see you have managed them responsibly. If you previously had little or no credit that counts against you, not for you. Use the cards you have, never miss a payment, and lenders will gradually become more willing to lend to you.

deemy2004

Yeh, credit card companies want people who have experience of managing their debt safely

Just as insurance companies want drivers who have experiece of driving safely.

zero debt is akin to an inexperienced driver.