I'm worried....any advice?

damien1_2

Ok, here's the story! lol
I've got £1000 on a HSBC c/c that is 0% til June time. Recently though i've applied for a couple of things and have been turned down....the Amazon c/c (i wanted the £15 voucher!) and a first direct current a/c (which was offering £50 for me to switch to them!) and now i'm worried that i'll be turned down for a c/c when i need to do a balance transfer. I always thought my credit rating was good so have been suprised at being turned down at all, i did however miss 1 payment on a store card about 6 month ago and have only just been added to the electoral role at my current address.
Any ideas on what i should do? I have been closing old credit cards and store cards anyway....

mountainofdebt

Don't apply for any more credit until you really really need it......too many applications make you look desparate.

Make sure all your payments are on time.

Reduce the limits on your existing credit cards as far as practical.

grumbler

1. FD is known to be very demanding.
2. Don't waste credit searches on such small incentive as £15 in vouchers.
3. Check your credit files. Electoral roll information takes time to be updated on your credit files.
4. And yes, even one missed or late payment can damage your credit history.

See Your Credit Rating: How they decide and how you find out for free Martin's article.