Too many credit cards? aka "The Credit Card thread"

[tom_e]

I've tried paying it off before the statement date but it says I cannot make a payment as no balance is due.

Setup a DD to pay it off in full, no chance of being hit with any interest or anything that way.

 

[gary996]

I would lose the ones with the worst rates for sure

 

[Feek]

I would lose the ones with the worst rates for sure

That suggests you’re paying interest, which is not the way to use a credit card.

 

[Raymond Lin]

Yeah, I don't care for the APR because I would rather take some money out of my savings to settle the statement than pay any interests on it.

 

[Cromulent]

That suggests you’re paying interest, which is not the way to use a credit card.

Yep. I use my credit card simply for the online protection. Outstanding balances are cleared within 48 hours of a transaction.

 

[LiE]

Yep. I use my credit card simply for the online protection. Outstanding balances are cleared within 48 hours of a transaction.

Yep the section 75 can be useful, I've never used it luckily.

 

[pepp77]

I spend about £1000-£1500 on my CC every month. All non cash purchases use it then it gets paid in full each month. Money then stays in my account earning a little bit of interest until the balance is paid.

 

[RedMogg]

Yep. I use my credit card simply for the online protection. Outstanding balances are cleared within 48 hours of a transaction.

Same here - one MBNA/Barclaycard with a 22k limit, which we use for S.75 protection and the hire car when we travel.

And a subsidiary card to my Dad's Amex Platinum (my brother has one too), for lounge access, BA points, etc. We split the annual fee between us.

I keep getting offers of high value cards from HSBC (where I keep my infected blood compensation), but the Amex & Barclaycard are more than sufficient for our needs.

 

[tamzzy]

completed a 0% fee credit transfer with natwest (12 months) and applying for another 0% fee credit transfer with virgin (13 months) for my 0% credit cards i took out last year
stoozing ftw...long live the stoozing!

 

[413x]

Have a rare question.

If you've had a long employment break.. But you've paid your 0pc CCs on time every time etc..
And the credit ref agency apps (credit karma etc) say you have a 100pc chance of getting a CC.. Is that good enough?

I'm not sure if credit refence agencies see the gap in employment in any way? Ie.. Do they even have visibility of it?

Due to job insecurity going forwards im reducing my balance transfer debt I usually carry with me over the next year. But could do with one more BT card to push the 0pc rates into 2026

 

[platinum87]

Have a rare question.

If you've had a long employment break.. But you've paid your 0pc CCs on time every time etc..
And the credit ref agency apps (credit karma etc) say you have a 100pc chance of getting a CC.. Is that good enough?

I'm not sure if credit refence agencies see the gap in employment in any way? Ie.. Do they even have visibility of it?

Due to job insecurity going forwards im reducing my balance transfer debt I usually carry with me over the next year. But could do with one more BT card to push the 0pc rates into 2026

Credit card companies only know what you tell them in terms of salary.

gaps are irrelevant, so is employment status, except that you'd need to lie in the latter, which will be some sort of fraud, or actually its not fraud, but its something else.

 

[413x]

Credit card companies only know what you tell them in terms of salary.

gaps are irrelevant, so is employment status, except that you'd need to lie in the latter, which will be some sort of fraud, or actually its not fraud, but its something else.

I'm employed now so should be fine. I've never been declined on putting a month. But lieing outright (I have a job but I don't) I wouldn't do.

 

[RedMogg]

Have a rare question.

If you've had a long employment break.. But you've paid your 0pc CCs on time every time etc..
And the credit ref agency apps (credit karma etc) say you have a 100pc chance of getting a CC.. Is that good enough?

I'm not sure if credit refence agencies see the gap in employment in any way? Ie.. Do they even have visibility of it?

Due to job insecurity going forwards im reducing my balance transfer debt I usually carry with me over the next year. But could do with one more BT card to push the 0pc rates into 2026

I've been "self-unemployed" (medically retired) since 2013. I'm 44, so putting "retired" tends to trigger a red flag/rejection, as does "unemployed" (I'm not in receipt of unemployment benefits as I have a decent pension).

My income is £75k+, but their underwriting software doesn't like it if I state my income plus any of the above descriptors.

I find "Homemaker/House-husband" along with my household income tends to fly under the radar and not raise any red flags.