Turned down - twice!!

rkh001

I am currently paying 12.9% with Virgin on a debt of £10,400. Applied to BA Amex to trnasfer bal and they turned me down, applied to IF and they have turned me down.

Now what do I do? OH has bad credit due to unemployment for 6 months and this has affected my rating.

Need help please to move this balance to LOB - any other going that might accept me?

Thanks.

FatJock

rkh001,

Not sure if this is much use to you but Barclaycard where doing a cheap 0% for a short while to new customers. As I'm an existing customer they offered me 6.9% LOB. Also, If you have a Lloyds/TSB account, they have an AMEX card linked to their credit card. 0% for 9 months (but an uncapped 2% BTF).

Also I saw an advert for Capital One account that is doing a 0% BT until Aug 2007 (or something like this - definately over a year).

Hope this is useful. Keep plugging away.

Cheers,
FatJock

lynzpower

Just checking you are on the electoral roll arnt you?

Have you seen your credit score with Experiean?

TBH, dont apply for any more at the moment, them not taking you on will give you further black marks so you need to get your credit rating up a bit more.

Or have you called virgin and asked them to lower your APR? I did this with co-op the pother week ( fair enough the card was at zero) anbd they took me from 14.9 to 0% for 9 months.

Sorry this isnt more positive
Chin up
Lynz x

rkh001

Thanks FatJock for your suggestions.
Lynzpower, you are right. I need to back off for a while otherwise credit history will worsen.
Virgin had offered to turn my cc to a loan at 6.9%. Have two other cards - Halifax and M&S. M&S has a small balance of about £500 which if I try hard enough, will be able to clear in two payments and then I could ask to transfer about 4k onto that (not sure at what rate) and then do the same with Halifax (about 2k bal on that but as LOB) for another 2k. That will leave only about 4.5k on virgin. But I need to think about this. Brain can't take it all in sometimes.
Thanks to you both again.
xx

gingercordial

Try calling Virgin again, if you get someone different they may be able to give you a better offer. Last week they gave me 6 months at 0.9% when I asked them if I could have another 0% period, and this seems to be quite common in fact. At first they offered 1.9% but when I asked if they had anything better they offered the 0.9%.

rkh001

Thanks gingercordial. Is your balance as high as mine (10.4k)? All they offered me was a reduced rate of 12.9% (from 15.9%) or a loan at 6.9%.
Maybe the 1.9 and 0.9 etc are based on how much you owe?