Will I be accepted or am I pushing my luck?

angelsmomma

I was refused by Tesco last year but chanced it this year again and much to my surprise I got it with a £6500 limit.

This brings my credit card limits to £18000 over 4 cards. Income £26000, (which is why I was surprised). I have £3600 across 2 cards (now transferred to Tesco) and 2 unused since the 0% ended.

adindas

jakesuk wrote: »

This is one for the seasoned stoozers I suppose or people who have dabbled with cards for a while.

I'm wondering if I could ask for a general consensus on whether I would be accepted for the Tesco Bank 0% 12mths BT card with 0% fee.

jakesuk;62121841
Go ahead as long as you do not have any default, miss payment, and have an established permanent address it is just a matter of luck. Believe me. I got the same credit card from Tesco while already have more than ten at the time but my situation is a little but better then you as I do not have many debt in it as I always clear it.

samtoby wrote: »

Why do you need all that available credit?

Because having many credit cards will offer benefit. Here is the benefit of having many credit cards discussed.

https://forums.moneysavingexpert.com/discussion/4594885

kloana

samtoby wrote: »

Why do you need all that available credit?

In my case (7 CCs, 1 store card, 2 overdrafts), an abundance of available credit "just happened". I have £30,680 available credit, and a salary of just under £18,000.

Partly as a combination of periodical reviews of credit limits, but also due to targeted applications for products that pay or benefit me. I get a combination of cashback, Clubcard points, Avios points, in-store vouchers, and so on.

I suspect this is the case for many people with multiple cards that either go largely unused, or are used and repaid in full. I think sometimes too much is made of the "you have too much available credit" idea/belief.

Responsible borrowers will manage their credit appropriately, regardless of limits available, whereas borrowers specifically looking to 'max out' at every given opportunity will do so anyway

jakesuk

adindas wrote: »

jakesuk;62121841



Because having many credit cards will offer benefit. Here is the benefit of having many credit cards discussed.

Absolutely.

I have never paid a penny in interest.

I have received circa £1000 over past 4 years from cashback/rewards/stoozing profit.

There's something more satisfying about earning £10 from a bank for playing the system than earning £10 from my employment.

matty747

kloana wrote: »

In my case (7 CCs, 1 store card, 2 overdrafts), an abundance of available credit "just happened". I have £30,680 available credit, and a salary of just under £18,000.

Partly as a combination of periodical reviews of credit limits, but also due to targeted applications for products that pay or benefit me. I get a combination of cashback, Clubcard points, Avios points, in-store vouchers, and so on.

I suspect this is the case for many people with multiple cards that either go largely unused, or are used and repaid in full. I think sometimes too much is made of the "you have too much available credit" idea/belief.

Responsible borrowers will manage their credit appropriately, regardless of limits available, whereas borrowers specifically looking to 'max out' at every given opportunity will do so anyway

That gives me hope, I was thinking Tesco may reject me as I have an £11700 credit limit with £6000 used on 0% with MBNA and £8900 limit on Amex which I pay in full every month. I want to transfer the money to another 0% but was fearful that with those two high limits they wouldn't give me another card on my 44k salary even though I will cancel the MBNA one after the transfer.