How many credit cards can you apply for?

JamesPeter

MalMonroe said:

If the card says zero percent for twenty months when you use it for purchases, then that's exactly what will happen. I don't understand how MBNA is allowed to retract an offer once it's started. 
 

MBNA are rather an odd fish when it comes to their 0% spending cards, in that the 0% only applies to purchases made in the first 60 days that you have the card. 

So, even though they sayt they offer 12 months or whatever @ 0%, you have to make the purchase within 60 days to get the 0% for the advertised period. If you purchase something after 60 days, you pay the full prevailing interest rate on that purchase (unless you pay it off in full after receipt of the first statement after the 0% spending cut off - which rather defeats the object of getting the zero percent card anyway).

Most banks offer the 0% for purchases made anytime during the 0% period - MBNA do it differently!

sinofrench26

floppydisk1 said:

Once you get say 4 cards ( or hard searches ) recorded on your credit file, slow down a little as lenders might interpret it like you are desperate for credit. Apply for any  0 %  purchase card that offer longest period you can get ( try lenders own website eligibility checker - that is a soft search- one that other lenders can't see  - and apply for one with the highest probability of being accepted), once you get what you need and want, avoid more hard searches for few months as you might know exactly what you are doing but every lender can interpret your credit file data in a different way and you might be refused any future credit facilities  if there are too many searches in a short time. Couple of credit card searches, mobile phone or insurance companies in space of 2 - 3 or 6  months   - that's ok and by no means excessive, applying for say 8 credit cards and 2 loans in a space of 6 weeks will definitely put a dent in your credit file

Thank you.  So having x4 credit cards is okay?  Or should I close one? (3 have £0 total at the moment) I applied for another one due to MBNA mess up but they said that they will honour the 0% for 26 months if I place the deposit on their credit card after I spoke to them today! By then I applied for m and s credit card?!