Multiple credit card applications

hippychick1

Hi

I have applied for a balance transfer deal on a credit card and have been accepted for a £1000 balance. My outstanding balance is £3000 in total. Could I apply again for a different balance transfer card to see if I could get 0% on another card for the remaining £2000? Or is it likely to be turned down as I have only this week applied for and got a new card? I'm not too bothered about my credit rating in the immediate future, just need to reduce the APR on this card!!

Thanks for any help.

The_Prince

Applying for a lot of credit in a short amount of time can certainly have a negative impact on your credit file. However, if this is only the second card you are applying for -- and you haven't applied for other credit in the recent past -- you should be absolutely fine.

hippychick1

Thanks for your reply. I have just been accepted for the 40 month 0% Halifax balance transfer card with a limit of £3000. So relieved to get it all on 0%!

The_Prince

Excellent Result! Well done.

TheDebtinator

hippychick1 wrote: »

Thanks for your reply. I have just been accepted for the 40 month 0% Halifax balance transfer card with a limit of £3000. So relieved to get it all on 0%!

wow! 40 months! over 3 years of interest free making not a penny from you (except any transfer fee). Awesome :money:

Superscrooge

hippychick1 wrote: »

Thanks for your reply. I have just been accepted for the 40 month 0% Halifax balance transfer card with a limit of £3000. So relieved to get it all on 0%!

Well done!

But make sure you can pay off the balance after 40 months. You might be able to BT again. But it can be an expensive mistake to assume you will always be able to BT and not have a Plan B!