How many cards is it 'safe' to apply for in one go?

zfr

izools wrote: »

If you apply for an MBNA card make sure you do it *before* the new card appears on your credit file. I was just declined for an MBNA card for one reason and one reason alone -

I had a new account wit less than six months of repayment history on it.

The application was referred and told me to call a number, which I did, spoke to the underwriter, who said re-apply in a few months time as they won't accept applicants with new accounts (new as in under 6~12 months repayment history)...

I've come across this before - many many years ago (2006?) with MBNA so seems this criteria of theirs hasn't changed

Creation would be a good bet. They accepted me on Tuesday despite the new account and a couple of recent searches.

May be a daft question...

But would that be 6 months from the account opening?

Or 6 months of repayment history - i.e. 6 statements have been issued, paid and reported to CRA?

smithers1981

.Mondeo = Tax £250 a year
Service/MOT 2011 £600
Insurance £400
Petrol £100 a month £1200 a year

Total = £2450

c1 = Tax £20 a year
Service MOT £200
Insurance £250
Petrol £60 a month £720 a year

Total = £1190

not sure whether to buy a 5k second hand one or a brand spanker on a PCP? from above figures surely it makes sense to get a newer car?

jakesuk

steve1980 wrote: »

Yes, as it's run by MBNA

I am aware of the link, hence the query.

Not sure I buy Izool's statement though that MBNA will decline you if you have a credit account with less than 6 months history. Sounds like an easy "fob-off" for an underwriter to give a disappointed applicant.

Admittedly new credit accounts may not look good but in itself can't be a reason for a blanket refusal, surely! There's so many other factors to consider.

smithers1981

well applied first for nationwide accepted but with only 3.2k limit as it was only a soft search i didnt proceed, ive then applied to mbna but have been rejected.... should i leave it be for now? ive made 2 proper applications and 1 soft search in 24 hours, should i leave it there or would it be worth reapplying to nationwide?

smithers1981

ps ive applied in previous years to virgin but always rejected clearly something on my credit file doesnt fit with either virgin or sister company mbna

trikidy

I think I was told having 3 searches in 6 months is accepted, more than that you are likely to be rejected. Similarly 8 per year, however more emphasis is placed on the 6 months. This could be wrong but it is what I have heard

eschaton

jakesuk wrote: »

Not sure I buy Izool's statement though that MBNA will decline you if you have a credit account with less than 6 months history. Sounds like an easy "fob-off" for an underwriter to give a disappointed applicant.

Agree with this. Never had that problem with MBNA/Virgin and have had a card off them numerous time with short history on another card.

bigadaj

smithers1981 wrote: »

.Mondeo = Tax £250 a year
Service/MOT 2011 £600
Insurance £400
Petrol £100 a month £1200 a year

Total = £2450

c1 = Tax £20 a year
Service MOT £200
Insurance £250
Petrol £60 a month £720 a year

Total = £1190

not sure whether to buy a 5k second hand one or a brand spanker
on a PCP? from above figures surely it makes sense to get a newer car?

Ok, now put in the finance figures and see how it looks, finance on the car is going to be a bit more than twelve hundred a year, probably more than the depreciation as well.

chanz4

I back iztools as my mrs was declinde for this reason 3 years back

jakesuk

chanz4 wrote: »

I back iztools as my mrs was declinde for this reason 3 years back

There is a high probability that I will apply for a Virgin card in about a week or so.

I have 3 applications in the last 6 months, 2 credit cards and 1 current account, all accepted and therefore all new accounts with less than 6 months activity.

So I wonder whether Virgin will decline me. Place your bets please.