Apply for right card to avoid black marks

CREDIT card applicants can now minimise the negative impact of repeated card searches on their credit ratings.

With lenders currently rejecting more than 90 per cent of credit card applications, consumers are getting black marks on their credit files just for searching for new credit, according to Moneyextra.com, which has launched a tool to help applicants preserve their credit rating while seeking credit.

It claimed that its credit card profiler – www.moneyextra.com/credit-cards – will give applicants a better chance of securing credit without damaging their records, by asking five questions and providing a list of cards they are most likely to be accepted for. Using the answers, Moneyextra says it can search the market to identify those cards most suitable for the applicants' credit history, reducing the number of applications needed.