Card applications for stoozing?

edited 30 November -1 at 1:00AM in Stoozing: Free Cash from Credit Cards
6 replies 1.1K views
zorro02zorro02 Forumite
1 Post
I am interested in stoozing, however at the minute I have no cards to do so.

I have noticed Martin's advice to spread out card applications?

If I apply for 1 card today, how long should I wait to apply for another?

Can anyone help?

Replies

  • emmy05emmy05 Forumite
    2.1K Posts
    ive heard you need to keep some time between applying, or too much of it, will damage your credit file further, im a bit confused why youd be interested in doing it, if you have no cards at all though? ...

  • ClarimanClariman Forumite
    1.5K Posts
    Part of the Furniture Combo Breaker
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    While the general suggestion of spreading out applications is a good idea, I think the notion that you should only apply for one at a time is not the current stoozing thinking. Providing you have a solid credit record, there should not be an issue applying for a few at the same time.

    Clariman
    Co-author/owner of the official stoozing website https://www.stoozing.com and Creator of the SOA & Snowball calculators.
  • Mutton_GeoffMutton_Geoff Forumite
    2.8K Posts
    Part of the Furniture 1,000 Posts Name Dropper Photogenic
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    I applied for (and got) 6 stoozing cards approved within the last fortnight (Egg Money, Virgin, Mint, Post Office, RBS & MNBA). They are in addition to the 3 other cards I already have for other purposes (eg Capital One 4% cashback etc).

    As soon as the other offers are no use, I'll be closing them down then applying for new Barclaycard and other 0% BT's later on. A big thank you to Martin for the article!

    PS Don't forget to Quidco your applications too!
    Signature on loan to someone else
  • BokkensBokkens Forumite
    505 Posts
    I would agree as long as you credit rating is good to excellant I would apply for say four cards all at once to maximise the 0% periods on the cards if you apply to slovenly you are reducing the 0% period and reducing your possible stooze profits so you are causing yourself unecessary delays and planning problems.
    make sure you have fully planned which cards you need and how you intende to use them and have a decent saving account or ISA open ready to receive the cash .
    All shall be alright.
    good luck,
    Previously known as Bokken,registered at MSE in Nov 04,computer glich deleted my access but it is fun building up my stars from scratch,again.:D
  • Yup to this. Applied for and got a Virgin Money card (15K), Barclaycard (10K), Natwest (7K), Mint (3K). Did all the applicatons online and back-to-back.

    Also got a Halifax One (?K), HSBC (?K) but not had them in yet, HSBC is for purchases so I can stooze my own income for a while. The amount of paperwork HSBC get you to fill in seems bloody crazy compared to the others, they can't setup up DD's online and they send you everything out for signatures - almost like they want to you be in doubt how important they are and how privileged you are for receiving a facility from them.

    What was funny was applying for them one by one and watching the credit limit offered drop each time for the ones where they told you it in advance. Coincidence?
    "A child of five could understand this. Fetch me a child of five." - Groucho Marx
  • MartinslovechildMartinslovechild Forumite
    1.6K Posts
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
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    CannyJock wrote: »
    The amount of paperwork HSBC get you to fill in seems bloody crazy compared to the others, they can't setup up DD's online and they send you everything out for signatures - almost like they want to you be in doubt how important they are and how privileged you are for receiving a facility from them.
    LOL!! Totally agree.

    When I originally applied for an HSBC card, they asked me to go to a local branch with loads of paperwork, including my passport, recent bank statements etc. The local branch then photocopied this and sent it all through to their head office. After a month, I inquired to find out what was causing the delay and they said that they hadn't received my paperwork!! I phoned the local branch to find out what was going on, they said that they'd chase it for me. I didn't hear anything for another 4 weeks and then I received a letter congratulating me on my new card with -- wait for it -- a £2,500 credit limit :shocked:.

    All I then needed to do was sign another piece of paper and they'd despatch my card. I didn't even bother.

    Approximately 12 months later, HSBC launched another 0% offer which I decided to go for (I must enjoy pain :D!!). This time, no trips to the local branch, no need to post off paperwork, nothing except a simple online application form. I received a letter about a week later congratulating me on my new card, with an altogether more reasonable limit of over £7,000...
    Mortgage Feb 2001 - £129,000
    Mortgage July 2007 - £0
    Original Mortgage Termination Date - Nov 2018
    Mortgage Interest saved - £63790.60
    ISA Profit since Jan 1st 2015 - 98.2% (updated 1 Dec 2020)
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