Applying for multiple cards

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  • SuzieSue
    SuzieSue Posts: 4,095
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    adouas wrote: »
    What 'checks' do they do now anyway? And I was wondering when do the credit reporting agencies find out you applied for a credit card with a hard check?

    I meant that they now have to be much more cautious and look a lot more at affordability.
  • swindiff
    swindiff Posts: 848
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    edited 11 November 2019 at 9:05AM
    Ben8282 wrote: »
    You have applied for 1 purchases card and 7 balance transfer cards.
    The total available credit on the balance transfer cards is £27,800 over the 5 cards that have been approved/you have been given a credit limit for.
    The total of your outstanding balances is £5,500.
    So WHAT DO YOU NEED ALL THESE BALANCE TRANSFER CARDS FOR AS YOU HAVE NO BALANCES TO TRANSFER OTHER THAN THE £5,500. These cards will be useless to you for the stated purpose of stoozing. You really have been wasting your time have'nt you.
    No I didn't waste my time at all thanks. I built myself a nice £50k+ Stooze pot which earned me a tidy sum over the few years I had it. You might have wanted to ask how rather than make assumptions that I didn't know what I was doing. Or maybe just read my second post which was only the 3rd post down in this thread which explained exactly how I was going to build my stooze pot. Halifax clarity credit card allows you to withdraw cash to your current account with no charge. So I did this a few times and then transferred the balance each time to the new cards. And what do you know I had over 50 grand in my bank borrowed from balance transfer cards at 0% earning me interest. DOES THAT MAKE SENSE TO YOU NOW?????????
  • Ben8282
    Ben8282 Posts: 4,821
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    edited 12 November 2019 at 7:39PM
    jeepjunkie wrote: »
    Lol, I think you need to read up on what stoozing is. There seem to be a lot of posters lately on the board who clearly don't understand it. Cheers
    I know very well what stoozing is thank you.
    I also don't waste my time getting myself £50k+ balances to make peanuts with todays interest rates after the payment of BT fees that this OP must have paid and paying tax which this OP must have paid.
  • swindiff
    swindiff Posts: 848
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    This wasn't done today though was it with today's interest rates. This thread is 3.5 years old and clearly from your post you had no clue what you were talking about or what I was doing. If you bothered to read the thread you would see that as a couple we paid no tax on our interest and after balance transfer fees over the years we made nearly £4k in interest. So for me it was well worth doing thanks.
  • Ben8282
    Ben8282 Posts: 4,821
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    swindiff wrote: »
    This wasn't done today though was it with today's interest rates. This thread is 3.5 years old and clearly from your post you had no clue what you were talking about or what I was doing. If you bothered to read the thread you would see that as a couple we paid no tax on our interest and after balance transfer fees over the years we made nearly £4k in interest. So for me it was well worth doing thanks.

    If you say so.
  • adindas
    adindas Posts: 6,803
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    edited 13 November 2019 at 9:49PM
    adouas wrote: »
    Hey guys just a quick one; is it better to apply for multiple cards during the weekend or during the week?
    SuzieSue wrote: »
    I applied for around 6 cards one after the other on a weekday and got all of them (but his was around 5 years ago before all the extra checks they do) but obviously I don't know what would have happened if I had applied on a weekend.

    I score better when I apply during the weekdays rather than the weekend. It might be due to extra cautious algorithm applied during the weekend where there is less human intervention ????

    Want to hear other people personal experience.
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