Does being a credit card tart affect your credit rating?

Lhotse19

I currently have one credit card in my own name, and am the additional cardholder on two others. The card in my name is over a year old, and there were gaps of about one year between obtaining each of the other cards. I/we got all three of these cards in order to do a bit of credit card tarting; the balances were all paid off in full before the 0% periods expired and none of the monthly repayments were missed.

I would like to get another credit card for the same purpose but wondered if these repeated applications, even though they are fairly spaced out, will negatively affect my credit rating?

I've never defaulted on any payments or gone overdrawn on any of my accounts. I have a healthy five figures in savings and investments and never put more on the cards than I could actually afford to repay immediately. I just don't want to unintentionally muddy my credit rating.

Thank you for your help.

Hazzinho

No it's fine, I've been doing itfor over 10 years and easily get credit because of my numerous accounts I've had in the past. Also credit searches drop off after a year so annual applications are fine.

exel1966

In the past tarting wasn't a huge issue. Things have moved on quite considerably since the really good old days of tarting and stoozing.

Additional info is now being collated by the CRA's. This has come at the request of the card companies. They now know far more about how you operate your accounts than they ever used to. They wouldn't spend time and money tracking this info if it wasn't required or indeed going to be used by them.

Minimum payments are now tracked (this may have a negative effect). Some say it's wise to now pay just over the minimum to stop your account being highlighted.
0% BT Offers are now tracked, other card companies can see how often you get them and whether that's all you use a company for (little profit to be made from customers like this, therefore a possible negative impact).

Things are not what they used to be.

eschaton

I would say not at all, been running 0% cards for about 10 years or so, never paid interest with any except one month early on when I made a mistake due to laptop problems.

I don't do BT cards as I don't find them worth the hassle anymore but 0% purchases are fine.

More recently I have been paying £2 or so over the minimum payment incase they do track this.

exel1966

There's no 'incase' about it. They do track them, just take a look at your credit reports.

bengal-stripe

Lhotse19 wrote: »

I currently have one credit card in my own name, and am the additional cardholder on two others.

You only have one CC (the one in your name). The other two, with you as additional card holder, belong to the main card holder and will go onto his/her credit file. Whatever you do, or don't do, with these cards will have no bearings on your credit rating.

As you applied for your card a year ago, there is no reason why you should not apply for another card.