Credit Card Problems

wskxd14

Hi Looking for some help and advice please!

I have recently received a lloyds credit 14months 0% balance transfer. The only issue was that it supplied half of the credit I required to transfer off my other card.

My current credit card debt is £4k, £2k which is on my new card which has 14months to go and the other which is on my virgin card which has 3 months left.

I applied for a Tesco credit card to transfer the remaining £2k but unfortuneatley they declined my application.

My question is should I leave applying for a credit card at the moment or would it cause further problems in applying?

Your thoughts are greatly appreciatted.

Cheers

nzseries1

You'll get varying opinions on this one. In my opinion, one instance of being declined should not stop you applying again.

Last year I got declined for 5 cards in 2 months, and then 6 weeks later I got accepted for 2 cards. You just never know. (although I'm not sure I'd personally recommend 7 applications in such a short time like I did).

johnbfan

My husband was refused by Tesco over a year ago - now he has been accepted for balance transfer this month for a lower amount. So don't give up - keep trying. As your credit rating improves and you ask to transfer less they will start accepting you.

We have another one to card tart soon so will start looking around again.

anotherpaul_2

Lucky you. They gave me £750. (I had £9500 with them until a few years ago, when my old card close through lack of use).

I'm planning to spend the £100 I need to to activate the interest free transfer, and pay that £100 off before the first statement, then phone them and ask them to increase it. But I'll take the £750 if they won't give me more and apply for another card in a few months.