Advise please

pennywise2

fewcloudy wrote: »

I don't see why not?
By "pushing my luck", do you mean they might say no, so what?

I guess that might be an issue if you were planning on applying for a mortgage soon, and did not want too many credit applications showing on file so close together.

In my less financially organised youth, I once had 4 different 0% balance transfer cards on the go at the same time, and as one card's offer period expired I would apply for another and move the remaining balance onto that. Continued in this way until it was all gone. Took a while, but it would've taken a lot longer on 17.5-23.95%...

Yes Fewcloudy that's what I meant, don't mean to run before I can walk but if I thought I could get another 0% balance transfer card or even 2 I would certainly apply. I just thought there might be a cap on available credit to me?
Regards Pennywise2

pennywise2

MallyGirl wrote: »

It might be worth trying one more application - it will only show as a search, not an accept or decline. Make sure you know about which banks are in which banking groups so you don't apply to a lender in the same group as the one you want to BT from.

I have completed a 0% balance transter on the lowest amount card and cleared it. Is it better to close this account now before applying for another 0% BT card or does it not make any difference?
Regards Andy

onlyfoolsandparking

If it were me I wouldn't close any accounts that are at zero balance or will be at zero balance soon. Having accounts open for long periods is a good marker on a credit file, opening and closing accounts not so good. If I'm reading you correctly you have just applied and got a 0% deal on a new card?, you could apply for another one now and 'take your chance' or wait 6 months then apply.


For me I would wait the 6 months, your choice of course.

pennywise2

Many thanks for the reply onlyfoolsandparking ��

MallyGirl

it is all a balancing act with no absolute answer.
Keeping a long held card looks good
Keeping a card with a high limit shows people are happy to lend that much.
Reducing the total amount of credit available to you means people might be inclined to lend more - after all you could fill the empty card again tomorrow

Closing an empty card increases the utilisation percentage which is not so good.

Which factor is most important varies by lender and is not publicly available data. It is all guesswork