How Do people get so many credit cards?

Cozy9k

SunderlandBlackCat wrote:

I applied for & got the egg money card in December & applied for & have been accepted for the m&s card this month. Just received & returned the credit agreement today so still don't know what the credit limit is.

thanks for that will give it a go best way for me as i can make overpayments to the m&s card or if i'm short any mionths then i can pay a little less but will be snowballing anyway once i have it all sorted so that will telll me which to go at first

thanks again

Penny-Pincher!!

We have 7 cards with a combined crdit of 45k. We only have a small debt and really should get rid of some of them.

PP
xx

Phoenix79_2

I've just been accepted for an M&S card. That'll be card number 6 (total credit availabe - circa £30k). I've never missed a payment and i'm quite savvy when it comes to using them (3% cashback, 0% purchases, 0% balance transfers etc).

My Dad must have about 10 with a combined limit of well over £100k. Again they all have/or had their uses at some point. He does however need to cull a few of them!

lynzpower

my parents buy all thier flights on credit cards, theyve bought 2nd hadn cars & all electricals etc cos of the extra consumer protection you get.

I saw thier limit once and it was over 80k as well. mind you they are still working- and earning well, but its madness.

Put it this way, if they ran that debt up on the CC its more than they paid for thier house. Mad

mjdh1957

I only have two now. One is an Egg card that I never use, I only have it because I like the Egg money manager so I can see all my bank accounts online in one place - and it adds up net worth too, which is now in the black and looking very healthy :j

The only card I use is a Morgan Stanley, which is my cashback card. I buy groceries, petrol and day-to-day stuff and pay it off in full each month. I will be getting £45 cashback at the end of this month! I am so pleased that they are now paying me instead of vice versa.

In the past I have had several cards and had balances on all of them, but I've learned my lesson with that so won't be doing that again.:embarasse

livinginhope

madduck wrote:

The bit about having several cards with ultimately the same lender is an interesting point. In my dark credit ridden days I had several cards (all with scary limits) which ultimately linked into RBS.

I would like to point out that the 3 cards that were the same company were not linked companies,but the SAME company,DH had a Lloyds platinum visa,when he told them of our fire,they then gave me a platinum visa (I wasn't earning!) each of our limits were £20k :eek: ,they then gave hubby a mastercard with a limit of £20k,this was all done at the bank in the same appointment,quite shocking isn't it!
The other 2 cards were both Egg cards,one visa,one mastercard,both given on the same day.
This sort of lending,although I understand they thought it was the best way at the time,should not be allowed.
LIH