One more card, then I'll stop!!

YorkshireBoy

Just started the stoozing game. I know you're not supposed to go mad, but I'm getting all giddy at the profit possibilities after getting my first two cards approved for a total of £22.5K in the space of 2 weeks (I had secretly hoped to achieve £30K total stooze when I started).

The first two cards are Egg and Virgin (the best/only 2 SBT cards according to my research), and I now feel I should just apply for one more (as obviously my credit history is very good).

I would prefer long 0% periods (9 months plus) and fee-free BT deals so have looked at Halifax charity cards and IF. I also have a postal application for the Capital One 18 months offer which is valid until August so I'm in no rush to apply for this yet.

My question is this - I've had an account with IF for 4 years now and currently have over £15K in ISA's with them. Is my best chance of acceptance and high credit limit with IF or should I stick with the Halifax charity card so at least I can call into branch with any queries or to make payments? Or should I reverse my logic and submit the Cap One now?

As always, any tips and advice will be gratefully received.

Anon

I would go for Capital One, but that is just me as I got carried away. I have a few stoozed cards and was turned down by Halifax as my debt/salary was apparently too much and they wanted to look after my well being (actually my debt/stooze is over my salary therefore could be cause for concern if I hadn't got it all safely in a high interest account . I am going to have to stop for a while as I probably have too many cards now (8, including 6 stoozed with varying limits since October).

Anon

Galstonian

You have read the warnings so you realise that you are risking severely damaging your credit rating if you continue. Searches stay on file for up to two years, if you do cause any harm it could take some time to repair. If you require to (really) borrow money within that time frame I would suggest you hold off for at least another month before applying. In the meantime apply to Equifax and Experian for your credit files to check everything is okay.

Cap 1 do not seem to be too generous with either offering 18 months or high limits, there is a poll on this board. Halifax seem to have taken a distinct disklike to some stoozers but are approachable for appeal. I have no experience of IF.

YorkshireBoy

Galstonian wrote:

You have read the warnings so you realise that you are risking severely damaging your credit rating if you continue. Searches stay on file for up to two years, if you do cause any harm it could take some time to repair. If you require to (really) borrow money within that time frame I would suggest you hold off for at least another month before applying. In the meantime apply to Equifax and Experian for your credit files to check everything is okay.

Cap 1 do not seem to be too generous with either offering 18 months or high limits, there is a poll on this board. Halifax seem to have taken a distinct disklike to some stoozers but are approachable for appeal. I have no experience of IF.

Thanks Galstonian, not too worried about damaging my credit rating as mortgage paid off in 21 months, with endowments and a bit of savings, and no other borrowing needs on the horizon. Not bothering with Experian or Equifax as I believe my rating prior to starting stoozing was "impeccable" (limits equal to 60% of salary on first two cards prove this I think) - I'll probably stop when I get refused or receive abysmally low limits.

Regarding the Cap One, I think I'll hold off this one until the summer and concentrate on IF as soon as I receive my Egg card and done the initial SBT. I can then BT from the Egg to IF and SBT the IF limit.

Thanks again