How long between applications?

Nev12

I am looking to apply for 2 credit cards in the near future:

1. Halifax clarity to use when abroad
2. Santander 123 for the cash back element.

How long should I wait between applications to ensure it doesn't negatively affect my credit.

I also hold 2/NatWest cards, but only use one...should I cancel the other before applying?!

Thanks

Laurensalive

I personally would have gone for a Barclaycard, due to it being used in most countries.

grumbler

Laurensalive wrote: »

I personally would have gone for a Barclaycard, due to it being used in most countries.

What a nonsense!

grumbler

Nev12 wrote: »

I am looking to apply for 2 credit cards in the near future:

1. Halifax clarity to use when abroad
2. Santander 123 for the cash back element.
.
How long should I wait between applications to ensure it doesn't negatively affect my credit.

Theoretically 12 (24?) months - that's how long a search remains in the credit file. In practice - 3-6 months.
However, IMHO two simultaneous or close applications are fine if you don't have any problems with your credit history.

I also hold 2/NatWest cards, but only use one...should I cancel the other before applying?!

Yes - if there is no a big balance on the remaining one. Beware, that it can take up to a month for the credit files to get updated.

Anthorn

Nev12 wrote: »

I am looking to apply for 2 credit cards in the near future:

1. Halifax clarity to use when abroad
2. Santander 123 for the cash back element.

How long should I wait between applications to ensure it doesn't negatively affect my credit.

I also hold 2/NatWest cards, but only use one...should I cancel the other before applying?!

Thanks

There is no hard rule on the time between applications nor how many applications within a specified time. At some point someone somewhere came up with three credit searches in 6 months. But I don't know the reasoning behind that because it all depends on who is doing the searching. Criteria varies between lenders and the lenders are not telling.


Personally, I don't make so many applications that they are likely to impact my credit search history. Over the last 8 weeks I've applied for and achieved two current accounts with overdraft facility and one credit card. Then I closed existing current accounts and a credit card. This was due to a review of my banking arrangements and I can't imagine doing it again for a few years at least. Overall, I now have roughly the same amount of available credit but APR is lower.


In the OP's case of applying for two credit cards, I would probably apply for the easiest to get first and then apply for the other one a month later. That's to avoid lenders thinking that I was building up credit in order to defraud. It happens.

JKSandy

Experian now disregard credit checks for credit applications more than 6 months old when analysing your credit score.


Now the credit score and what Experian do are not important but it would be interesting to find out if lenders are following the same path.

SuperHan

If I'm doing two checks I usually do them at the same time ish. My logic being that there may be a delay in updating credit files (which is likely given there is when you see your own) of maybe even a couple of hours. If so, the second search may only see a cached version of your credit file which excludes the most recent search.

However, this is based on little evidence, but has always served me well.

Sharon87

SuperHan wrote: »

If I'm doing two checks I usually do them at the same time ish. My logic being that there may be a delay in updating credit files (which is likely given there is when you see your own) of maybe even a couple of hours. If so, the second search may only see a cached version of your credit file which excludes the most recent search.

However, this is based on little evidence, but has always served me well.

Yeah if you apply for both credit cards at the same time - within the same hour/day you've more of a chance of being accepted for at least one, but if you apply for one now and one in a week or 2, the fact you've applied for another credit card recently could negatively affect you if the lender thinks you're desperate for money.

shane1104

i would use 2 computers side by side, or a phone and a pc.. fill in details on both.


press "submit" at the same time. therefore neither company would know until too late...


GENIUS I TELL YOU!!! GENIUS!!
:cool:

HappyMJ

shane1104 wrote: »

i would use 2 computers side by side, or a phone and a pc.. fill in details on both.


press "submit" at the same time. therefore neither company would know until too late...


GENIUS I TELL YOU!!! GENIUS!!
:cool:

I wonder if that would work if you had a really good credit history and lined up let's say 10 or maybe even more P.C's and pressed submit all at once then balance transferred all the cash into your current account via a super balance transfer card, then run off with the cash. hmmmm...interesting...

shane1104

HappyMJ wrote: »

I wonder if that would work if you had a really good credit history and lined up let's say 10 or maybe even more P.C's and pressed submit all at once then balance transferred all the cash into your current account via a super balance transfer card, then run off with the cash. hmmmm...interesting...

Dragons den here we come*.. *by reading this post you have agreed that i, solely i, will retain 100% of the profits, whilst you, "the reader" will pay all costs.