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Credit card debt probs, good credit history?!
captaincurry79
Posts: 5 Forumite
in Credit cards
Hello all, i have some probs with credit card debts, I owe £25k over 4 cards.
I did have a ccj from a few years back, but was settled and has since come off, I have been moving balances around to keep the rate down, but starting to see some problems, I never late pay or miss payments, and on my credit report I am regarded in Good/Excellent, Equifax of 452.
I thought i would open a new account with First direct, all was well, they gave me a c card £1600 limit and a current account. Which i am switching to.
I was going to do a balance transfer, and they said do i want to increase the limit?! I said yes as i wanted to move £2k.
They then said we have looked further into your commitments and are withdrawing your card completely.
Also I have tried to apply for a loan to pay off the more expensive cards, and been declined!
Finally i had tarted some money off my sainsburys, and now has a nil balance, they have reduced c/limit from £4k to £100!
What can i do? what am i doing wrong?
Cards= £6700 mint @LOB 7.9%:p
£2300 barc @6.9 LOB:p
£9000 lloydstsb @11.9%:eek:
£7000 Virgin 0% until June 10:cool:
Also, my £100 limit sains card is it better to cancel this? also i have a next store card with £30 owing £3600 limit, is it better to cancel this?:mad:
Endevouring to straighten things out!:A
I did have a ccj from a few years back, but was settled and has since come off, I have been moving balances around to keep the rate down, but starting to see some problems, I never late pay or miss payments, and on my credit report I am regarded in Good/Excellent, Equifax of 452.
I thought i would open a new account with First direct, all was well, they gave me a c card £1600 limit and a current account. Which i am switching to.
I was going to do a balance transfer, and they said do i want to increase the limit?! I said yes as i wanted to move £2k.
They then said we have looked further into your commitments and are withdrawing your card completely.
Also I have tried to apply for a loan to pay off the more expensive cards, and been declined!
Finally i had tarted some money off my sainsburys, and now has a nil balance, they have reduced c/limit from £4k to £100!
What can i do? what am i doing wrong?
Cards= £6700 mint @LOB 7.9%:p
£2300 barc @6.9 LOB:p
£9000 lloydstsb @11.9%:eek:
£7000 Virgin 0% until June 10:cool:
Also, my £100 limit sains card is it better to cancel this? also i have a next store card with £30 owing £3600 limit, is it better to cancel this?:mad:
Endevouring to straighten things out!:A
0
Comments
-
your rates aren't too bad
however any potential lender will view your debts of 25k seen in relation to your income and other outgoings (e.g. mortgage)0 -
Would it be better to cancel my sainsburys card then? I guess so!0
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