Average credit rating? - has anyone obtained a 0% balance transfer card recently?

PrincessJR

Hi,

My husband has an average credit rating, not excellent but certainly not fair or poor either.

He applied for a Capital One card a few months ago and was declined, which we were really shocked at.

He has left it a while and now wants to apply for a card with 0% on Balance Transfers. Can anyone recommend one? Do companies only give these to people with 'Excellent' histories?

He currently has an MBNA and an Abbey so those are out of the question (these are the 2 we want to transfer).

Thanks

gazelle8760

PrincessJR wrote: »

Hi,

My husband has an average credit rating, not excellent but certainly not fair or poor either.

He applied for a Capital One card a few months ago and was declined, which we were really shocked at.

He has left it a while and now wants to apply for a card with 0% on Balance Transfers. Can anyone recommend one? Do companies only give these to people with 'Excellent' histories?

He currently has an MBNA and an Abbey so those are out of the question (these are the 2 we want to transfer).

Thanks

Hi

I am sometimes surprized how these banks operate.

If my Credit Score that I have was anything to be believed, I should have nothing, but when I applied for my Current Accounts both to Lloyds and Nationwide, they offered me their own Credit Cards, Lloyds as standard, then I was encouraged to apply for The Nationwide one, to which I got accepted, and you get 0% for 13mths balance transfer,and 0% for three months on purchases, so I would think you would not encounter any problems in obtaining one, and given the excellent card useage overseas, you would benefit all around. If you already have an MBA card, which are not easy to obtain, then your half way there, so call up Nationwide Card Services on 08457 99 88 99 and apply. You get a choice of two cards, Gold or Classic, Gold is subject to you earning a minimum of £25k with excellent credit history, but if you don't qualify for Gold, then they may offer you the Classic Card, it's VISA not MASTERCARD. Good luck!! The Gazelle.

CannyJock

I'm assuming you've checked both your credit reports and no surprises?

Cap One only have "good" cards for people with excellent ratings, so you shouldn't be surprised by the refusal: http://www.capitalone.co.uk/creditcards/cards.jsf. I don't even bother applying because of the number of other cards that I have going at any one time.

Nationwide is one of the few card providers I've been turned down by. My credit history is exemplary although I do tend to have a decent amount of available credit stoozed away.

I'd be tempted to nudge you towards Halifax and RBS cards, I've always found their limits to be fairly good.

Full list of alternatives for you to consider on stoozing site (supported by MSE) http://www.stoozing.com/0fees.php

jpm_3

I just got a Post Office card with 0% for 12 months + 5 months 0% at 1st and 2nd anniversary. There's a 2.5-3.5% fee for the BT, and the normal rate is 13.99%.

I don't have adverse credit, but I'm fairly new to the UK, so my score is only slightly 'good'.

Morvern_callar

I just got a Post Office one as well, after being turned down by Virgin and Amex. They seem to be less rigorous in their requirements.

JDMYOFAN

If you can't get a new one, ask your current card issuer.

MBNA have reduced mine from 15 to 2.9% for 12 months, bargain.

Moggles_2

Depends what you mean by "average credit rating"

Lenders launch these market-leading BT cards, which are sometimes heavily advertised, to draw in new customers. Often they are flooded with applications and can afford to cherry-pick applicants. That said, Capital One is known to score harshly.

For tips to improve his chances of credit card acceptance, have a look at the *Credit Rating: how it works and how to improve it guide* especially Martin's *Manage and Improve your credit score* article

http://www.moneysavingexpert.com/banking/credit-rating-credit-score#improve

13 months at 0% is currently available to new customers from Halifax on balance transfers made in the first 90 days. There's a 3% BT fee.
IME, and from feedback here, credit limits are generous and the minimum monthly payment is just 1% of the balance shifted.

http://www.halifax.co.uk/creditcards/pluscard136.asp

Simon_Preston

jpm wrote: »

I just got a Post Office card with 0% for 12 months + 5 months 0% at 1st and 2nd anniversary. There's a 2.5-3.5% fee for the BT, and the normal rate is 13.99%.

I don't have adverse credit, but I'm fairly new to the UK, so my score is only slightly 'good'.

What limit you got with that? I'm looking for a card with ideally a £1500 limit minimum.