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    • DaveyLou112
    • By DaveyLou112 10th Jan 18, 4:04 PM
    • 1Posts
    • 0Thanks
    Credit Card Application concerns
    • #1
    • 10th Jan 18, 4:04 PM
    Credit Card Application concerns 10th Jan 18 at 4:04 PM
    Back in 2002 I racked up some serious debts and although I have managed to pay off debts of £25,000, I still have a Barclays Credit Card with a Balance of £7800. I am desperate to transfer this to benefit from a 0% interest rate, but when I look at the applications it doesn't allow me to complete my details accurately.

    Issue 1.
    From April of last year I registered my new business and it is Limited Company so the employment status of Self Employed doesn't apply. I am a business owner so technically not employed.
    Issue 2.
    If I was to put myself down as Employed (Which I could as I am registered to be paid a salary). As it's my first year of trading I am only paying myself the minimum salary of just over £11,000, however I do pay myself company dividends when additional money is required. Thus means when they are asking for accurate salary information I can not provide this,
    Issue 3.
    I have seen a great deal with HSBC, however they can not gaurentee that I will be able to transfer the whole amount over to the new card.

    Over the last 2 weeks I have followed saving tips and I have saved the following:
    Sky + BT = £852 saving per year
    O2 = £288 saving per year
    Car Insurance = £143 per year
    ........also planning on changing our Utilities for a saving of around £280 per year
    ........also recieved £2000 back on missold commision on credit card.

    Total: £3563 per year

    I'd love to add the credit card to the list, any advice?
Page 1
    • venison
    • By venison 10th Jan 18, 4:39 PM
    • 1,789 Posts
    • 1,888 Thanks
    • #2
    • 10th Jan 18, 4:39 PM
    • #2
    • 10th Jan 18, 4:39 PM
    If you declared in income of 11k you would probably not get enough limit to BT £7800. Remember that anyone you apply to will see your debt of 7800 v an income of £1100.
    I am a BG on loans,credit cards and benefits I volunteer to help get your forum questions answered and keep the forum running smoothly". Board guides are not moderators and don't read every post. If you spot an abusive or illegal post then please report it to Any views are mine and not the official line of
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