Multiple credit cards

Nine_Lives

I created a thread on multiple current accounts, and then asked the same about C/C's but it seems the question was overlooked http://forums.moneysavingexpert.com/showthread.html?t=2296351&page=3&highlight=

I'm new to credit cards & understand just about enough to make sure i don't get hit with interest, which will do me.

I believe if i apply & get turned down then my rating takes a knock?? So i don't want that.


I have a Halifax reward account as does the g/f (she - after applying 3 times). We were turned down for a joint account.


I could (^& probably am) be wrong, but my theory is that if we take out a C/C each with Halifax & use it, not incurring any charges at all, and then at a later date apply for the Halifax Reward account (joint) we may have a better chance of being successful with the application.

Unless you think we may be successful now that she's had her solo application accepted?



Anyway, to the question - can multiple cards be a bad thing (forgetting maxing them out etc as i wont be doing that at all)?

CannyJock

Acceptance or rejection makes no difference. It's the search of your credit report that's recorded that makes a difference.

The reason for the rejection will be that your g/f had multiple searches in a short space of time.

Applying for a C/C each will mean another 2 searches

Wait 6 months without any new applications to let your reports cool down, then apply again.

Meanwhile, you could always appeal the rejection, explaining that you believe you were rejected because of the number of applications made for current accounts which you are setting up to make managing your finances easier. Better to do this than reapply as the appeal can be considered without another search of your credit report.

In themselves, multiple cards aren't a bad thing, but not relevant to improving your chances of getting a joint account.

Nine_Lives

Thanks. I take from the first half of your post, you were talking about the Halifax Reward mainly & not a credit card application as such?

I myself, have not been refused any application, oh, except the joint, which (the application) was initiated by the g/f, so i don't know whether that's 1 bad mark against her, or both of us.

Would there be a time frame for an appeal? As i've already left it about a month or so since the rejection & it'll be another 2 weeks before i can get to the local branch with the g/f to do the appeal

CannyJock

K_P83 wrote: »

Thanks. I take from the first half of your post, you were talking about the Halifax Reward mainly & not a credit card application as such?

I myself, have not been refused any application, oh, except the joint, which (the application) was initiated by the g/f, so i don't know whether that's 1 bad mark against her, or both of us.

Would there be a time frame for an appeal? As i've already left it about a month or so since the rejection & it'll be another 2 weeks before i can get to the local branch with the g/f to do the appeal

With credit cards it's normally 90 days IME, would assume the same for other accounts.

I'd put the appeal in writing.

Not sure what you mean about the first part - whether an application for a current account or credit card you get a search either way. Whether successful or not makes no difference.