How many cards to apply at once MAXIMUM?

Danny_G

How many cards MAXIMUM is it advisable to apply for at once (as too many searches give you a negative impact on your score)

Does it really give you a negative impact? or is it a myth?

stephane_2

Applying for a couple of cards should not do any real harm to your file then wait about 3 months before applying again.
It is not a myth, applying for too many cards/loans will be seen to lenders as someone desperate to get credit.

ElkyElky

You ask too many questions.


Yes, the more products you apply for, the worse it'll make your credit score. I'd say 3 applications within a 6 month period.

However, applying for products willy nilly won't help you get accepted any faster. Only time will help your credit file.

Lenders will no doubt start viewing you as desperate and refuse to lend to you completely.

lisyloo

Yes lots of searches at the same time does have a negative impact.
It looks like your either desperate for credit or being turned down.

Any numbers are speculation.
It's up to lenders to decide what they are looking for.

Why do you have a sudden need for lots of credit?

Danny_G

ElkyElky wrote: »

You ask too many questions.


Yes, the more products you apply for, the worse it'll make your credit score. I'd say 3 applications within a 6 month period.

However, applying for products willy nilly won't help you get accepted any faster. Only time will help your credit file.

Lenders will no doubt start viewing you as desperate and refuse to lend to you completely.

"Never stop questioning" Albert Einstien!

lisyloo I dont have an urge for lots, just a few. To use for emergency purchases, shopping etc, even if the limit is just £500.

lots of cards is like 10- I heard some members here have 8-12 cards here?
I wonder why they have so many too. I just want some low limit ones, thats all.

immoral_angeluk

If you only want a card for emergencies and odd shopping why on earth do you want a 'batch' of cards.

Danny_G

immoral_angeluk wrote: »

If you only want a card for emergencies and odd shopping why on earth do you want a 'batch' of cards.

I dont want a batch, just want to apply for a batch, so at least 1 should be accepted, which I have leant depends on your credit, and loads of other factors!

no_more_cards_for_me

Danny_G wrote: »

lisyloo I dont have an urge for lots, just a few. To use for emergency purchases, shopping etc, even if the limit is just £500.

lots of cards is like 10- I heard some members here have 8-12 cards here?
I wonder why they have so many too. I just want some low limit ones, thats all.

WHY ?

Just because other people have lots of cards, why should that influence you. If you have 10 cards that 10 statements and 10 payments you have to track (even using Direct Debit). Plus ensure that funds are available.

Unless your very organised then you would be better off with 1 or 2. Perhaps 1 cashbank and one 0% for emergencies - really why would you need more ?? With sensible limits then this would meet the needs of most people.

Filling up your wallet with credit cards serves little point unless you want to try and outdo everybody else.

Danny_G

no_more_cards_for_me wrote: »

WHY ?

Just because other people have lots of cards, why should that influence you. If you have 10 cards that 10 statements and 10 payments you have to track (even using Direct Debit). Plus ensure that funds are available.

Unless your very organised then you would be better off with 1 or 2. Perhaps 1 cashbank and one 0% for emergencies - really why would you need more ?? With sensible limits then this would meet the needs of most people.

Filling up your wallet with credit cards serves little point unless you want to try and outdo everybody else.

I am not comparing with others, I am just saying people asked me why do I want loads? i am not wanting loads. I am just saying loads would be people with 10+ cards.

And i wonder why they have so many, out of curiosity.

Me just after 1-2 good ones.... applying in batches as some would get rejected.

immoral_angeluk

Danny_G wrote: »

I dont want a batch, just want to apply for a batch, so at least 1 should be accepted, which I have leant depends on your credit, and loads of other factors!

By applying for one after another you will be damaging your credit score.

Do your research, see who are most likely to accept you, check your credit file and correct any errors, do NOT go applying for loads as you will do more harm than good.
Applications give you an instant decision usually anyway.

Danny_G

immoral_angeluk wrote: »

By applying for one after another you will be damaging your credit score.

Do your research, see who are most likely to accept you, check your credit file and correct any errors, do NOT go applying for loads as you will do more harm than good.
Applications give you an instant decision usually anyway.

Thanks Angel.

Does this angel have wings?