Novice Stoozer - Credit cards keeping turning me down on application - HELP!

sharkmark

Hi guys - fairly new to this board - usually on Quick Grabbit while you can. I've got real problem with credit cards at moment - I am a novice stoozer and have just recently applied to Tesco and Morgan Stanley in past month and been rejected by both. I am employed with a good credit history but I think its to do with the number of cards I've been applying for recently.

I took out 4 new cards before Christmas - I balance transferred the lot (£30,000) via Egg into a savings account. I am nearly 6 months down the line now so I now want to take out another 0% deal with low handling fee but keep being rejected.

Guess they've sussed me out!!!

Any tips how I can now save my previously perfect credit score and rescue this situation?!?!? I can do rule 1 and rule 2 ( Rule 1 is DON'T APPLY FOR ANY NEW CARDS FOR A WHILE....Rule 2...??? DON'T GET SO GREEDY IN FUTURE.!) but wondered about any tips for cards that might accept me (more leniant) or should I just pay them off and do a runner with the interest I've earnt in the 6 months period...?

THanks

RTNI

By your post I take it that you have £30,000 worth of credit. This would prob be the main reason why you are getting turned down, as to the CC company that is a lot.

If you don't need the other cards that you applied for before Christmas, cancel them, thus reducing the amount of credit to your name. Not sure if the fact that you have made 4 searches before christmas plus these extra 2 will do any good or harm though.

I would say at a push, it has not done you any favours, but just wait a while and these will drop off the report and new companys will not be too concerned.

In a nutshell: Reduce the amount of credit to your name if possible as £30K is a lot IMO.