Applying for Amex & Santander 123

allinatizz

Morning all,

Not sure if this is the right place to post this - apologies if not - but any help would be much appreciated.

I'm currently looking over my finances for the coming year, and there are two products that would put my money to better use.

One is an Amex Cashback Credit Card. I currently use my first ever card, a Capital One that's paid off in full every month for purchases (using about 20-30% of the balance) and around a 50% balance on 0% MBNA card with another year left of the offer. My plan is to take out a 0% BT card the coming December to transfer it, but also have the funds to pay it off if I can't.

The other is a Santander 123 account. My current account is a Natwest Rewards account, but they've just capped the rewards. It has a £2k overdraft that's never used.

I don't want to use the switch service to change accounts as that would close the Natwest one. It's my oldest line of credit, back from when I was a student so adds to the stability of my financial history. But I do plan on moving all DDs/salary to the Santander.

My question is, given that both of these would result in a hard credit check how long should I wait between applications? The MSE CC eligibility checker currently puts me at 95% acceptance for the Amex but having read the forums I know other people in the same situation who have been refused.

I have some big(ger) purchases coming up in the next few months, so it would be nice to get the cashback but I also have enough in my current account and going out in DDs to get about £15 p/m from the Santander account after fees. Not sure which one to prioritize, and any insight on how credit checks for current accounts vs credit cards work would be very helpful.

I'm currently a mortgaged homeowner, lived at the same address for 2 years, am on the electoral roll etc.

Thanks in advance :beer:

[Deleted User]

Just apply for both.

No one can give you any guidance on acceptance and wait times as every person is different.

JohnMl88

You can apply for both. I don’t see the issue. I applied for amex and virgin last may, both approved. 2 hard check is ok

moneywow1

I made back to back applications for an Amex Platinum cashback and 0% Barclaycard Platinum, got approved on both. You'll probably be fine

allinatizz

Thanks for the advice all! Sounds like I'm overthinking this, will put applications in for both & see what happens.

maxximus75

I would go for both but, apply for the credit card first and then the 123.