Applying for multiple cards

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  • frank777
    frank777 Posts: 296 Forumite
    Stoozers - don't forget the cashback sites for credit cards
    topcashback pays BOS/Lloyds/Halifax £21 Barclaycard £26.25 Tesco £31.50 AA £30.45

    E&OE
  • swindiff
    swindiff Posts: 845
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    !!!!!!, didn't even think about Topcashback lol
  • LJB290
    LJB290 Posts: 106 Forumite
    I've just asked questions on another thread about applying for more than 1 credit card for balance transfer purposes and was amazed to come across this saying that you applied for 8 in one sitting and have been approved for the majority!

    I was concerned that applying for more than 1x 0% balance transfer cards would look desperate???.

    I want to transfer some money to 0% to ensure we focus on the higher interest cards first to reduce our debt before worrying about debt at 0%.

    I have several joint mortgages with my husband - all good.
    He has 2 credit cards in his name (with me having a joint card)
    I have 1 card in my name with him having a joint card.
    He has a couple of defaults on his file on old cards that are no longer around
    I dont have any defaults or issues on my file.

    I'm worried about having hard searches on my file and not being accepted.
  • swindiff
    swindiff Posts: 845
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    I figured if I apply for them all at the same time then they would not have time to appear on my credit file as most are approved pretty much straight away doing a while you wait credit check. The only exceptions were Tesco who wanted a signed form returned. And the AA who Wanted all sorts of stuff (hardly worth the hassle), but I have sent it off now anyway.

    The AA is the only one I am waiting on, all the others have been approved.
  • LJB290
    LJB290 Posts: 106 Forumite
    Ahhhh - that's a good call.
    I will do a bit of research and then take the same approach!
  • MallyGirl
    MallyGirl Posts: 6,511
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    I have certainly applied for 1 0% purchases and 1 0% Money Transfer on the same day with no issue. Then you wait for 6 months before applying for anything else if you need it. And always close down the ones you don't need any more as the offers have run out
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  • faddy
    faddy Posts: 508 Forumite
    swindiff wrote: »
    Virgin gave me £9,900 so no problem having 2 cards with them. I found out that I actually still had a Tesco card open too which I had asked them to close months ago, even so they still gave me another card for £5,700

    So to Recap

    New Cards
    Clydesdale £8,500
    Tesco £5,700
    MBNA £10,000
    Bank of Scotland £8,000
    Halifax £1,600
    Barclaycard £8,200
    Virgin £9,900
    AA (Still awaiting decision)

    Existing cards
    Halifax £10,450
    Virgin £7,000
    Lloyds £10,800
    Tesco £7,250

    Total for new 0% credit £51,900
    Total available credit £87,400

    Thought this might be useful as a gauge to see what card providers limits are likely to be for others thinking of doing the same.

    Would it be rude to ask what income you're stating on applications?
  • adindas
    adindas Posts: 6,803
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    edited 17 May 2016 at 11:08PM
    swindiff wrote: »
    The clarity card will be used to withdraw cash to my current account (can withdraw 95% of credit limit free of charge), with a larger limit I can do less withdraws (more convenient, as have to go into branch to authorize withdraw from CC to current account).

    Could you transfer the balance from a creditcard to Halifax Claritycard even if you do not have balance in Halifax Claritycard, leaving it on credit and then you ask Halifax to transfert it to current account without fee ??

    I have heard other cards but this is the first time hears abut Halifax allow to do this. Have you treis it in the past, what sort of amount we are talking about here about £5000+??
  • swindiff
    swindiff Posts: 845
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    faddy wrote: »
    Would it be rude to ask what income you're stating on applications?
    Income £50k, no dependants. Mortgage/rent payments £800/month. That's the big 3 they seem to ask for.
  • swindiff
    swindiff Posts: 845
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    adindas wrote: »
    Could you transfer the balance from a creditcard to Halifax Claritycard even if you do not have balance in Halifax Claritycard, leaving it on credit and then you ask Halifax to transfert it to current account without fee ??

    I have heard other cards but this is the first time hears abut Halifax allow to do this. Have you treis it in the past, what sort of amount we are talking about here about £5000+??

    I did this once before many years ago and the payment was returned, so unless things have changed then no, you cannot transfer a credit onto the clarity card unless there is a debt to clear.

    Halifax Clarity do not charge a fee as such for withdrawing money. but they do start charging interest from the day of the withdraw. I transfer the balance on the same day that I make the withdraw to my current account.

    The few transfers I have done so far have cleared whilst the withdraw is still showing as "pending" on my online banking so whether I will be charged interest while it is still pending or not I won't know until I see my statement.

    At 12.9% which is the rate of my Clarity card, the interest on a £5k withdraw is £1.77/day. Timed right you may pay nothing. I would expect the worst to be 2 or 3 days interest.

    Regarding how much you can withdraw on the Clarity card there seems to be some confusion. When I phoned them a few weeks ago I was told 95% of my credit limit. The first withdraw I did was for £7380 witch is about 70% of my credit limit. When I went to make the 2nd withdraw "different branch", they would only let me withdraw 50% (£5225). I made a 3rd withdraw at another different branch for £5000. I subsequently phoned Halifax and they confirmed that the maximum withdraw was 50% of my credit limit.

    All 3 branches I went to I was given incorrect information. Such as, you will get charged for a withdraw or the maximum daily withdraw is £1000. I have not come across a teller yet that knows you can do this free of charge with the Clarity card, they have all needed to go and speak with their managers.
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