One small/old default - credit card obtainable?

sunnyday123_2

Hi there, I am new here and was wondering if anyone had some advice for me based on their own experience. I have one small default (£83) on my credit file which is satisfied and due to come off in February 09. I have 5 small credit accounts, all of which are always paid on time and more than the minimum payment. I would say that I owe approx 50% of my total available credit and have made 2 credit applications in the last 6 months. I have a Barclaycard initial credit card at 27% apr and desperately want to get it transferred to a interest free balance transfer card as it is costing me approx £45 a month in interest. However, I dont want to lower my credit score by applying and getting declined. What do you think are the odds of being accepted for a decent interest free card and does anyone have experience of being accepted with a particular card who has one small default or will this be impossible until that's removed?

I would be really grateful for any help. Thank you

sarahs999

YOu might well get a card, but not necessarily enough to BT the whole amount (how much do you need to transfer?). But of course, no one can tell you, the only way for sure is to apply and find out! I know that's not much help. By the way, the declining is not the problem, it's the amount of searches that is recorded on your file. Only two in the past six months isn't that much so I would say to research the most likely cards to work for you and then try.

sunnyday123_2

i need to BT £2k. Does anyone know which mainstream card has the highest acceptance rate?

cifpower

The Flybe CC seems to be handing out decent limits to those who have a default or two and they offer 0% on balance transfers for 6 months.

sunnyday123_2

Thanks for the advice. I tried Egg and they said no.

Well, I have applied for the Flybe card and it has told me that they will contact me in 7-10 days with a decision. I take it this means that it is a no?

sunnyday123_2

just found this on their faqs so might be lucky:

How long will it take to get a decision?
Every application is reviewed individually to ensure we approve as many applications as possible. You should expect to hear from us within 7 to 10 days after you submit your application to us.

YorkshireBoy

For the sake of another 3 months, wouldn't you be better waiting and applying with a tip-top credit file?

After all, these (wasted?) searches might be having a more negative effect than you think in the current climate (and the possibly worse climate likely to be existing in February).

sunnyday123_2

well I m not going to do any more applications, its just that my barclaycard is costing me so much at the moment (£45 interest a month) and I need some respite!