help on 0% balance transfer declined

dairymilk1976

PLease can anyone help give me some advice
Due to circumstances not of my own doing I have found myself in a little bit of debt.
My ex partner left me a year ago leaving me to pay the morgage and bills with a child yes he does pay half the morgage but I am left with everything else, Due to the housing market I do not want to put my home up for sale and downsize as such.
I have recently tried switching to 2, 0% balance transfer credit cards to help with reducing the costs but have been declined on both occassions as I only have 1 full time wage coming in and they say I am a bad risk, due to other outgoing costs, yes but that is why I want to reduce the amount I owe.
I have never missed a payment and do not want a free hand, but a little advice and help would be nice.
I have a good credit rating on the independent sites.
SO WHAT CAN I DO NEXT?
any advice would be appreciated. :j

thevinternet

Hi Dairy Milk,

The first thing I would do is to post this question on the Credit Card part of the forum, as they are experts on the old card tarting over there!

One thing I would say is that the banks are really tightening up who they will lend to these days, making it harder and harder to get 0% deals.

I'm assuming you've used something like 'Creditexpert' to view your credit history, and that its given you a 'credit score' - just to let you know that these are really to be taken with a pinch of salt, as every credit card company has it's own credit rating system based on your credit history and income, and it's this that they'll use to decide whether to give you a card or not.

Furthermore, the more cards you apply for, the less likely you are to be accepted for any of them, as each 'search' then shows up on your credit rating. The more searches you have in a short period, the worse it is seen by the credit card companies...infuriating, I know!!

So that we can help further, can you give us a rough idea of your current CC debts, which cards they are on, and which cards you've applied for so far? xx

thevinternet

Also, if you fill in this 'Statement of Affairs' and then post it on here, we will see if we can save you money in other areas:

http://makesenseofcards.com/soacalc.html

It may take a while to do, but it's a great tool for getting some practical help with budgetting. xx