Failed Credit Check for BT to Virgin

Hathaway_2

Hi All,

Having found this website and the forums I now have the confidence to face up to my debt problems and start tackling them. However, I have come across my first hurdle.

I have £6500 outstanding on a Lloyds TSB credit card at 15.9%.

I bank with Lloyds and told them I was thinking of doing a BT to another card and they offered me another cosolidation loan, which isn't really what I want.

I tried to do a BT to Virgin at 0% for 16 months. They rejected me saying "we think you already have too many outstandings". I assume they mean they think I owe too much. I also have 2 personal loans with Lloyds. (Total debt of £8700).

I now have a rejected application on my credit file. Is it worth trying another card provider and risking another rejection? And if so, which one?

I would also like to transfer my bank account and £1500 overdraft facility to Abbey. Will they do a credit check and will the rejection by Virgin affect this?

I am trying to get as much of my credit card debt as possible shifted to a lower interest rate and would welcome some advice. I haven't been refused credit for years (but most of my previous applications have been to my own bank). And this came as a bit of a surprise as well as a disappointment.

btw - before I read on this site not to contact a fee-based debt management company I rang one for advice. They told me they could get my monthly payments reduced and advised me to max out my credit card (another £5,000) before they approcahed Lloyds on my behalf and told them I couldn't pay it back!


Thanks.

clio

so where does the failed credit check come into it?? Do you mean you failed to get another credit card [virgin] to do the BT!

xplora

clio wrote: »

so where does the failed credit check come into it?? Do you mean you failed to get another credit card [virgin] to do the BT!

yes, I thought he meant he got failed credit check for BT (British Telecom) to Virgin.

moneysavingallday

Hathaway wrote: »

I would also like to transfer my bank account and £1500 overdraft facility to Abbey. Will they do a credit check and will the rejection by Virgin affect this?



Thanks.

Obviously. How could they consider you for a £1500 overdraft wtihout credit checking you?

thriftymomma

They won't see that Virgin have rejected you - though there may be a search that's been recorded on your file.

clio

Jam donut * reported*