Thanks Robert.

Unfortunately my outstanding balance is currently with Virgin, provided by MBNA, which is why I believe I may have to take out more than one new card to transfer the balance elsewhere.

The information and advice, however, is much appreciated.

Regards,

Richard

There are no rules governing how many cards one person can have providers are starting to look at how much credit has been granted to individuals, how much is being used and does the individual have enough income to repay outstanding debts. All these factors will be taken into account when deciding how much credit to grant.

If you would prefer only to have one card for balance transfers try MBNA as they have a tradition of granting bigger credit lines.

Thanks Dave,

My credit is in good order and I earn an above average salary. I realise that it isn't possible to give a definitive answer to my question but was hoping for an idea before I go ahead and start applying for new cards. Need to make sure that if I go down the route of card tarting rather than taking out a loan, I can secure enough credit to cover my debts. Don't want to find that I would be turned down a loan due to recent credit card applications if I couldn't secure enough creit on cards.

 

By the sounds of things I should be fine, having just got 2 cards at the minute.

 

Thanks for the advice,

Richard 

Than

This is like asking how much rain will fall tomorrow.  Without knowing your full financial history, and current financial position I dont believe anybody can answer that.

Theoretically  there is no limit to the number of cards somebody can have (I have just finished watching Spendaholics where the current victim of this car crash TV had 12 credit cards), so on the face of it you should be able to get another card if all your other income, expenditure and history is all ok.

I currently have two credit cards. One of these is a regularly used card which always has less than a £500 balance, and the other is a card I do not use for purchases but has a £5000 balance from a previous balance transfer.

 I would like to take out a new card so that I can benefit from a new 0% interest balance transfer period but I also have other debts which I wish to transfer to a credit card.

Although my credit rating is classed as, 'Excellent', I do not believe that I will beable to secure a credit limit that will allow me to make just one balance transfer to cover my debts. How many credit cards am I likely to be able to hold at one time?

Many Thanks,

Richard