Do I have grounds for appeal?

ferry

I have just been refused an MBNA CC on the basis of 'affordability'.The advisor suggested my mortgage payments are too high compared to income-£900 per month against a(combined) net monthly income of £2600 per month.
I was hoping to transfer funds from a card charging 16.9%APR to a card at 0% for 15 months..surely this is seen as reducing my outgoings?
I have another CC but theres nothing on that,so no other debt to consider.
Plus,my credit rating must surely have improved since applying for the first card as I've not missed any payments anywhere in the last 2 years and never been refused credit in the past.

I understand each credit provider have their own lending criteria.
Should I appeal against MBNA's decision not to grant me the card..?

Thanks
F

_Andy_

Nothing to stop you appealing but ultimately it's their decision. I doubt they'd overturn it.

jamalfatty

ferry wrote: »

I was hoping to transfer funds from a card charging 16.9%APR to a card at 0% for 15 months..surely this is seen as reducing my outgoings?
I have another CC but theres nothing on that,so no other debt to consider.

They will also take into consideration your total available credit, if you are going to appeal, you may want to close the account with nothing on first

YorkshireBoy

jamalfatty wrote: »

They will also take into consideration your total available credit, if you are going to appeal, you may want to close the account with nothing on first

That may take up to two months to be updated on the CRA files though.

How long is the MBNA appeal 'window' open for?

methusala_2

Is talking to the 0 balance card issuer not worth a try ?? they may offer your a BT deal you can find acceptable. I think they would at least attempt to keep you as a customer cos with a 0 balance its just a short step to saying....close my account please....