0% cards How many can you have?

berttheterrier

I have used 4 credit cards over many years for 0% transfers and have paid them off bar the latest one.

The fixed term is up and I will need to move it.

The existing cards don't offer you great deals if they already have your custom so I can't really use them again for transfers.

Do I ditch the cards I already had so I can keep applying for new 0% cards or keep them?

How many can you have before it affects your credit score?

Thanks

[Deleted User]

You can have as many as you can get. For some people that's one. For other that's twenty or more.

You have no credit score to be affected, just credit history, so again, uts down to individual customers and lender specific criteria. It'll have an impact once a lender feels you have more credit than you need,bit are demonstrating signs of higher risk.

Consider your income in relation to the limits you have. You only have four cards currently, so I would close no more than one.

MallyGirl

As zx81 says - there is no limit. I keep cards if they have a purpose and ditch after paying off just before the 0% deal ends otherwise.
I keep:
JL Partnership- 1% CB on brand purchases and 0.5% on rest. Longest held.
Amex - 1% on everything (where accepted), some good offers, high limit, shop small
Halifax Clarity - forex
4 others on 0% deals which probably I won't keep at deal end. Tesco will definitely go as they will consider you a new customer again after a 6 month break.

2ilent8cho

You may want to get a Barclaycard ? They often have 0% transfer offers for existing customers, so do your spending on another card and then transfer over when the offers pop up which is most months.

Also Tesco Bank often send me decent transfer offers on my existing cards for balance transfers.

Sounds like your existing CC companies are not great at giving you offers.

Nasqueron

berttheterrier wrote: »

I have used 4 credit cards over many years for 0% transfers and have paid them off bar the latest one.

The fixed term is up and I will need to move it.

The existing cards don't offer you great deals if they already have your custom so I can't really use them again for transfers.

I have a Barclaycard BT card and literally every month I get 0% transfer offers for 12-18 months and 0% money transfer offers. Have you tried ringing the firms and asking them if they have any offers?

Alexd52

As an existing customer, I get regular offers from Barclaycard, Lloyds and Virgin, pretty much every month. I also get occasional offers from Post Office and Capital One Platinum

berttheterrier

Thanks guys, Lots of great advice.
I will take a look at the cards I have now and see if I can find a good deal

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