We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Help required - cannot get loans as apparently "up to my total credit limit"
Options
Hello
I don't know if anyone can help but I have a bit of a problem. I have several credit cards that have gone past their 0% period and one in particular I am now paying triple what I was paying before on. I have tried to do balance transfers on these cards but I have been refused. I looked at my credit status and apparently I have an "excellent" credit rating - 999 apparently but it says I have used 91% of the total credit I have available.
All I want to do is transfer my balances - not get new credit, is there a way around this at all? It is killing my budget, I have taken on a second job to try and help but have recently had my hours cut so need to do something pretty swiftly. I have been to my bank, who wanted to help but said that all the decisions have to go via the underwriters and they are the ones refusing me credit - HELP!!
I don't know if anyone can help but I have a bit of a problem. I have several credit cards that have gone past their 0% period and one in particular I am now paying triple what I was paying before on. I have tried to do balance transfers on these cards but I have been refused. I looked at my credit status and apparently I have an "excellent" credit rating - 999 apparently but it says I have used 91% of the total credit I have available.
All I want to do is transfer my balances - not get new credit, is there a way around this at all? It is killing my budget, I have taken on a second job to try and help but have recently had my hours cut so need to do something pretty swiftly. I have been to my bank, who wanted to help but said that all the decisions have to go via the underwriters and they are the ones refusing me credit - HELP!!
0
Comments
-
No, there is no way around this aside from paying down your debt, I was told by experian you have to get it to below 70% before lenders will accept you again, mine is currently around 87% and I have had the same issue.
In the lenders eyes, you are getting new credit, yes I appreciate you are only wanting it to BT (as do I) to reduce the interest you are paying but there is no guarantee you will do this and close the old account, you could just use the new and old credit therefore increasing your committments and making you more of a risk to your lenders.
Have you tried your own bank?, the only other thing you can do is just knuckle down and reduce your debt as much as possible and try again in another 6 monthsAug GC £63.23/£200, Total Savings £00 -
When does the "total credit" change in your file? I had a large bill on my credit card so it showed 92% but this has since been paid. So it seems wrong that my file might still show this to any prospective searcher!0
-
almost_there wrote: »When does the "total credit" change in your file? I had a large bill on my credit card so it showed 92% but this has since been paid. So it seems wrong that my file might still show this to any prospective searcher!0
This discussion has been closed.
Confirm your email address to Create Threads and Reply

Categories
- All Categories
- 350.7K Banking & Borrowing
- 253K Reduce Debt & Boost Income
- 453.4K Spending & Discounts
- 243.7K Work, Benefits & Business
- 598.5K Mortgages, Homes & Bills
- 176.8K Life & Family
- 256.9K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards