How many cards is too many?

Volcane

Indeed yes, or at least eventually. I have an offset tracker mortgage that I use for stoozing. Hasn’t been worth it for years until the increased interest rates of the last 12 months or so.

Jami74

All offers have dried up for me and my last couple of applications were rejected so I am sitting my hands, but it's hard.

Currently got 2 NatWest and 1 RBS BT cards, Lloyds (had used, 0% fee MT), HSBC BT all for stoozing and Barclaycard, Amex, Tesco and MBNA for cashback/direct debits.

norm_

Does using the eligibility checkers hinder your chances of being approved for future applications?

As looking through my credit file it shows all the searches on there.

daivid

No, so long as you don’t actually apply for a card the eligibility check has no effect.

Volcane

Even with 21 hard searches on Experian ( only 6 of which are on Equifax, and 3 on trans union ) since April 23 I’m still being accepted for new cards recently…. It’s all seemingly random.

on the flip side TSB never want to give me a card despite three attempts over last 3 years.

WillPS

MorningcoffeeIV said:

No lender will take account of your savings.  Or your credit rating.

Limits are based on income, affordability and risk.

Not true - lenders do take account of savings if they're aware of them (i.e. they're held with the same bank/group). They normally don't take account of savings held elsewhere though.

adamp87

Volcane said:

Even with 21 hard searches on Experian ( only 6 of which are on Equifax, and 3 on trans union ) since April 23 I’m still being accepted for new cards recently…. It’s all seemingly random.

on the flip side TSB never want to give me a card despite three attempts over last 3 years.

Serial bank switcher? 21 seems high for 6 months ? But doesn’t seem to be really negative for you

some banks are like that (TSB) First Direct just didn’t like my profile for years, then suddenly they did (or their algorithm/customer profile changed perhaps). Reading how bad TSB seems to be with IT failures and such perhaps it’s worth not being with them anyway 

Volcane

adamp87 said:

Volcane said:

Even with 21 hard searches on Experian ( only 6 of which are on Equifax, and 3 on trans union ) since April 23 I’m still being accepted for new cards recently…. It’s all seemingly random.

on the flip side TSB never want to give me a card despite three attempts over last 3 years.

Serial bank switcher? 21 seems high for 6 months ? But doesn’t seem to be really negative for you

some banks are like that (TSB) First Direct just didn’t like my profile for years, then suddenly they did (or their algorithm/customer profile changed perhaps). Reading how bad TSB seems to be with IT failures and such perhaps it’s worth not being with them anyway 

Yes I’ve taken advantage of every available bank switch over the last two years. I’ve even gone for switches despite being officially not eligible for a payment with various degrees of success. My mission for 2024 is to conquer the TSB credit card dept lol.

Volcane

Just by way of an update… today I applied for a Halifax Clarity card and instant acceptance with a £10k limit.

Wish I asked for a higher limit but didn’t think I’d be accepted as didn’t pass the eligibility checker a month ago !

Persistence is the answer.

daivid

Volcane said:

Just by way of an update… today I applied for a Halifax Clarity card and instant acceptance with a £10k limit.

Wish I asked for a higher limit but didn’t think I’d be accepted as didn’t pass the eligibility checker a month ago !

Persistence is the answer.

So Halifax asked you what limit you were after as part of the application? I don’t think I've had that since the days of applying face to face in branch, though I can request a new limit I would like with many of my cards.