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Numerous credit cards
kitchendemon
Posts: 5 Forumite
in Credit cards
Hi all,
I'm pretty new to borrowing and have one credit card I used to by some furniture and white goods. It's getting towards the end of my 0% and I need to transfer.
If I'm offered less than my current balance as the credit limit (i.e. I owe around £4000 and had an estimated limit on the new card of £1500), can I apply for multiple cards with different banks to spread the debt, without damaging my credit score?
I've never missed a payment and pay more than the minimum.
Cheers!
I'm pretty new to borrowing and have one credit card I used to by some furniture and white goods. It's getting towards the end of my 0% and I need to transfer.
If I'm offered less than my current balance as the credit limit (i.e. I owe around £4000 and had an estimated limit on the new card of £1500), can I apply for multiple cards with different banks to spread the debt, without damaging my credit score?
I've never missed a payment and pay more than the minimum.
Cheers!
0
Comments
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You can apply for further cards. However, too many credit searches can make you look increasingly desperate and may lower your chances of acceptance each time.0
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I'm a Board Guide on the Credit Cards, Loans, Credit Files & Ratings boards. I'm a volunteer to help the boards run smoothly, and I can move and merge threads there. Any views are mine and not the official line of moneysavingexpert.com0
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Keeping an ongoing balance on a CC, albeit a 0% one, will already be damaging your credit score.loose does not rhyme with choose but lose does and is the word you meant to write.0
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kitchendemon wrote: »Hi all,
I'm pretty new to borrowing and have one credit card I used to by some furniture and white goods. It's getting towards the end of my 0% and I need to transfer.
If I'm offered less than my current balance as the credit limit (i.e. I owe around £4000 and had an estimated limit on the new card of £1500), can I apply for multiple cards with different banks to spread the debt, without damaging my credit score?
I've never missed a payment and pay more than the minimum.
Cheers!
best to stay new to borrowing and stop before you get into debt
CC are very good if used properly i.e. regularly but pay in full every month0
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