no new cards for me :-(

zenith1820

Hi everyone

I havent missed any payments, got credit reports from experian and equifaq which said that my reocrd was good (although it took me ages to figure out what it meant) but ive been refused every credit card ive recently applied for.

I wanted to ask you guys if I may have been refused because of not wanting the PPI when i applied for the cards?

Thanks

bbruce

Not at all.
However, if you haven't got a credit record, its hard to get one if that makes sense.
I bumped into my neighbours in M&S who were very miffed as they had just been turned down for a card. They don't owe any money not even for their £0.9m house!
Have you tried Capital One? They usually give new starters a break.

zenith1820

HI

Ive tried capital one, halifaq and 2 others but was turned down in the latters they sent saying something like unfortunately we cannot offer you a card at this time..."

the reason why i need more cards is that i have a 7k debt on a card (0% apr will end very soon) and want to bt to something else as the apr repayments will be too high.

Natwest have offered me life of balance at 7.9% so i could more the debt onto that but would be much happier with a 0% card
thanks

Thunderbird_2

Hi

I don't know if this was the case with you, but, sometimes, if you have many credit cards, you might be turned down for a new one because you have a big access to many credit and you can easily get into huge debt, if you used them, even if have a good credit history.

Don't forget, the £7,000 balance in one card now has some impact on their decission.

My advice is not apply for a new credit card once you have been turned down by one as it leaves a search mark on your credit history each time you do, moreover, frequent applications ( more search marks on your report) within a short period of time, will give the impression that you are in bad need for another credit access, and that's not a good sign for lenders.

I would sugest a low interest rate for the life of the balance either with your Natwest or with your card that have the balance ( intead of moving a way from them , tell them you would like a low interest rate for the life of the balance or you might move the balance into another card and see what they can offer ( hopefuly less than natwest's 7.9%)

I do wish that was a help for you and good luck in clearing your debt

Thunderbird

zenith1820

hi

i asked aliance and leicester to give me a better rate than the standard 16.9% after the 0% apr ends but was gobsmacked when they told me that the rate would be 24% can they do this?
they wouldnt offer me anything less so i decided to move the balance onto the natwest at 7.9%

can someone also tell me how much i would be repaying each month at 7.9% (7k) and if the debt was reduced to 6k as i dont understand the repayment calc

thanks

AMILLIONDOLLARS

I had £7700 on my mint card, but still managed to BT to the Amex Plantinum 4.9% LOB. I stated in my online application the amount I wanted to transfer straight away, had no problems. Your difficulty now is that you have put in a lot of applications so your credit score will have lowered. You may have to move over to 7.9% for now wait six months and try again.

Whats your min payment 3%?

Good luck

zenith1820

Hi

I know this may sound silly but how do I work out how much (min) I will have to pay each month for say £7028 or if I payed an extra £655 (as ive got a bonus from work this month). My current min repayment is £162. I want to be able to pay some money in to redce it down to at least £130 - £140.
Any maths wizzkids out there?
Thanks

moneyuser

Use the credit card calculator from whatsthecost.

http://www.whatsthecost.com/creditCard.aspx