Multiple Credit Card Applications

gj3333

Hi,
I need some advice on applying for two credit cards at once. I currently have around £1450 on a 0% card that is due to run out in the next couple of weeks. I need a 0% balance transfer card to transfer my balence and a 0% card for new purchases. I know that you can get combination cards for this but am worried I wont get enough of a credit limit to cover my transfer and have enough left for emergency 0% purchases.
I have applied for the Lloyds/TSB balence transfer card which offers 15 months balence transfers at 0% with a 1% fee and 3 months 0% on purchases. I am awaiting a decision which should be back in the next four days.
Should I apply for another 0% card for purchases now while this one is pending or do I wait to improve my chances.
I have a high credit rating with no other cards or debts and an income of £27900 per year.

Many thanks

Maestro.

next time have the two applications open in each browser tab and click apply at the same time. Each lender won't see the others' credit search.

izools

Apply for one who searches Equifax - Barclaycard or Creation - and one who searches Experian - basically everyone else except RBS Group and Capital One as they actually search experian and equifax

StuC75

If its pending, then its likely to have gone for underwriting.. so other applications at the time could count against.. At the end of the day though only an underwriter could tell you the possible impact, depends how borderline your application was..

Do avoid mixing balances on cards - its kind of rule 1 of transfers and stoozing..

Maybe keep your existing card - who is that with? as they may give your further offers down the line.. always getting this with my Virgin & MBNA cards - just keep using them a little to keep the offers coming through..

Maestro.

izools wrote: »

Apply for one who searches Equifax - Barclaycard or Creation - and one who searches Experian - basically everyone else except RBS Group and Capital One as they actually search experian and equifax

That's interesting, I wonder if its why I can't get credit with either of those financial institutions to save myself. My address is a nightmare (everyone has their own version of it) and I'm assuming the slightest discrepancy between files is an instant fail? (Would explain a lot).

Experian_company_representative

Maestro. wrote: »

next time have the two applications open in each browser tab and click apply at the same time. Each lender won't see the others' credit search.

Assuming both lenders use the same CRA then one search will be registered before the other and will be visible on the second report. Searches are registered instantly.

James

CherlokHomes

izools wrote: »

Apply for one who searches Equifax - Barclaycard or Creation - and one who searches Experian - basically everyone else except RBS Group and Capital One as they actually search experian and equifax

I'm quite happy to provide proof that BC searched my missis Experian

NewBe

Experian_company_representative wrote: »

Searches are registered instantly.

James

Does this mean searches are also instantly shown when you check your online credit report on the same day?