Applying for two credit cards on same day?

BungleGirl

We are trying to shift some debt around to reduce interest charges and have been accepted for Natwest Platinum Card this morning and have requested the balance transfer etc. Will it flag up in a bad way if I apply for a second card with another company on the same day - would I be best to wait a couple of days or a couple of weeks or does it not really matter?

We are getting hammered by Halifax on our existing credit card and really want to be able to balance transfer it all elsewhere and then not use any of the cards in future.

fozmcfc

Depends on how many searches you have had on your credit file, over the past 6 months.

If this is your first or second, then I don't see it as a problem. You might even be better to do it now as the search for the Natwest one, might not be updated on your credit report for other companies to see.

Just remember you can't transfer between same group cards. I.E. a company whos card is issued by MBNA to another company whos card is issued by MBNA.

Halifax is supplied by Bank Of Scotland, so your can't transfer to another card issued by Bank Of Scotland.

Check on this link for all the 0% deals and hover the mouse over the card name and it tells you who issues it.

http://www.stoozing.com/0fees.php

chattychappy

I'd go for it. I applied for NatWest Plat and Barclaycard Plat within minutes of each other, got both with around 10K limits on each.

The search will show up, but the account won't be shown as being set up yet. If you delay, there could be a slight detriment as it you will be seen to have more available credit.

Later on, you might be shown has having the balance transferred twice or not at all. "Not at all" would be good - but hard to predict if this will happen and for how long.

exel1966

BungleGirl wrote: »

We are trying to shift some debt around to reduce interest charges and have been accepted for Natwest Platinum Card this morning and have requested the balance transfer etc. Will it flag up in a bad way if I apply for a second card with another company on the same day - would I be best to wait a couple of days or a couple of weeks or does it not really matter?

We are getting hammered by Halifax on our existing credit card and really want to be able to balance transfer it all elsewhere and then not use any of the cards in future.

Multiple simultaneous applications with different companies was a method employed by stoozers to combat the system. As many as 6-7 have been done resulting in accepts. I personally have done 4 when stoozing was more profitable, all resulting in acceptances, but I have an excellent history.
As the system is not live, each check can not be seen by the other if done within a very short timescale, but if you have other very recent searches then it wouldn't be a good idea to do that many. One or two others wouldn't hurt.
It would be better to both together.

BungleGirl

Thanks for your responses - after reading them I went ahead with the second application and it was accepted...so goodbye to monster monthly interest and hello to very impressed husband who suggested I look at what options we have this morning (he's working away at the moment) and heard that it was all sorted by lunchtime!

exel1966

I wonder what hubby will be giving you as a treat for all your hard work when he gets home

fozmcfc

BungleGirl wrote: »

Thanks for your responses - after reading them I went ahead with the second application and it was accepted...so goodbye to monster monthly interest and hello to very impressed husband who suggested I look at what options we have this morning (he's working away at the moment) and heard that it was all sorted by lunchtime!

Congratulations :T

Best thing I ever did was get a 0% BT card, hope you get yourself sorted out by the time the 0% ends.

My outlook on credit cards from now on, is only get those that give you benefits and when those benefits are done, move on.