Credit Card Advice: One At a Time Please

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Caution

Please be aware that every credit application you make will be recorded by credit reference agencies such as Equifax and Experian. Every time your file is accessed, all other lenders will be able to see that you have made a credit application.

Although lenders cannot see whether or not your application has been successful, they are able to see how many applications you have made. If you make frequent applications, lenders can assume that you are frequently getting declined, and they may well want to know why.

Could you apply for two cards at once?

In theory, you could apply for two credit cards at the same time, hoping that your file will be accessed by both issuers simultaneously. However, the chances of this happening are slim, as lenders all take different amounts of time to process your request. Even if you apply for two credit cards online within a few minutes of each other, by the time you apply for the second card, your first search will have been recorded.

What to do if you are declined for a credit card?

The first thing to do is to check that your credit file is "clean", and that there are no "hidden surprises" on there.

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