Balance transfer assistance needed

ashawyer

Hi,

I currently hold an AMEX blue sky card, i used the credit on this while i was moving into my new home, no i have purchased the essentials i wish to apply for a balance transfer so that i can benifit from the many 0% intrest offers around.

Last month i applied for a Virgin card (18 Months 0% intrest on balance tranfer) they declined me saying that my other card (the AMEX) had only been open for a few months.

They did say i can reapply in 4 months, but by then i would have paid AMEX a bit of intrest.

I signed onto Credit Expert last year so i can keep track of my report and it all looks good. (another reason i got the AMEX was to give my credit report some substance) i had a score of 999 befote i took the card out, but now it has slightly reduced.

I heard that it is not always the best thing to have a 999 score as credit companies are unsure how you will manage the credit they offer.

my current balance is 3500 GBP and i have never missed any payments and have nothing negitive on my report.

Can anyone suggest how i should proceed from here.

Thank you in advance

Trembling_Turnip

If you knew you wanted to use the card to buy things, why not get one with a good rate on Purchases? This makes no sense to me.

pre123

ashawyer wrote: »

Hi,
I signed onto Credit Expert last year so i can keep track of my report and it all looks good. (another reason i got the AMEX was to give my credit report some substance) i had a score of 999 befote i took the card out, but now it has slightly reduced.

I heard that it is not always the best thing to have a 999 score as credit companies are unsure how you will manage the credit they offer.

save your money and never pay for these scores, credit card company's use their own individual scoring systems and never look at the CRA scores from you
if you watched martin's itv show the other day, there was a guy who went bankrupt so his credit score was 600ish, if he used a subprime card for a year and made regular payments it would go up to the 999 score.

why not try a non-mbna group card, like the post office card or halifax??

ashawyer

Trembling_Turnip wrote: »

If you knew you wanted to use the card to buy things, why not get one with a good rate on Purchases? This makes no sense to me.

Thank you for your response, how ever did choose the AMEX carefully as i work in Aviation and from time to time i needed to use my card on behalf of my clients (which needed a large credit limit) the card was immediately paid back for the money that was used but i receive the 'points' - in the case of the Blue Sky Card i would receive discounts on travel purchases.

Regarding the information about the other cards, i will look into the post office card.

Thanks