need some advise

mutty_hc

hey all, ive applied for some cc's recently and ran into a spot of bother, essentially i was given a cc by my bank (hsbc) and given a limit of £2k, i was wanting to use this card then transfer it to a 0% balance xfer one, i applied for the virgin 16month deal and was rejected due to my earnings. when i first was given the card by hsbc they offered me a £6k limit, so i tried to get it upped to that today but again was rejected. so i'm leaving a footprint now, which through my own error probably im not happy about, so what do I do now? I need another CC but dont want to mess up my 'credit rating' any further. I've read martins guide but could do with some more help. ps. has my rating been screwed up already? thanks.

skintandscared_2

Ok, first off, why do you "need" another credit card? If it's because you can't manage on the money that you have, getting another card will only compound your problems BELIEVE ME!! Been there and got the T-Shirt!! If you apply for another card straight away you know you will probably be refused again, and each refusal will damage your credit rating. Have you checked that you are on the electoral roll? That can be enough to have you refused.

If you are struggling to manage, the best advice I can give is pop over to the debt free wannabe board and post an SOA (statement of affairs). The helpful people over there will help you find ways to cut your expenses, live more cheaply and hopefully be able to manage without credit at all. It's a lifestyle I wish I'd adopted A LONG time ago!!

DipStick

mutty_hc wrote: »

so what do I do now?

Stop spending on the CC and pay off some of the balance. Don't join the hoards of people on here who try and get out of their problems by borrowing more. That is not a solution, it just makes more problems.

mutty_hc

guys. I'm not in debt on it, I can fully pay off the card without hassle. I was just wanting to get a better deal elsewhere. My HSBC card doesn't offer that good a deal is all. That's pretty much all I'm after. cheers.

skintandscared_2

In that case it might be worth checking your credit report to see if there's something on there you don't know about. Or wait a bit until you get a salary rise. Honestly though, one card is plenty for emergencies. Credit cards are not a good way to live. I wish I'd never been given one to be honest.

CLAPTON

I'm a bit confused.
If you have no debt and pay your CC off each month then you pay no interest, so why is a 0% deal that attractive anyway..