refused credit card

beetlebunny

How are you to do a balance transfer from a credit card when I constantly get refused due to bad past credit history?

My balances on 3 cards dont seem to go down, and I also get refused on loans. I'm trying to pay these off but feel like everytime I hit a brick wall. I haven't used the cards for 2 years or more, why do banks not seem to help people that need it.

cifpower

Do you have any missed/late payments, defaults or CCJs? Are you on the electoral roll? Have you changed address/job recently and/or often?

All these have an impact on your credit score.

Also, a lot of searches have a detriment effect too.

opinions4u

beetlebunny wrote: »

How are you to do a balance transfer from a credit card when I constantly get refused due to bad past credit history?

You don't. You manage your debt down. Try increasing your payments. Try not spending on them.

why do banks not seem to help people that need it.

Have you tried ringing your card companies to ask:

1) Can they reduce the rate on your card?
2) Would they offer you a balance transfer deal on the card?

SilverCo

Hi beetlebunny :hello:

Don't think I can explain why this is happening, but can tell you I have exactly the same problem! I have never missed a payment in the whole of my 'credit' life, but am still unable to get accepted for a 0% card :mad:

Obviously lenders take a lot of factors into account, how much you earn, how much debt you already have (in my case, ), whether you own or rent your house and that's even before they factor in any missed payments. It is extremely frustrating and, if any of the experienced MSE-ers can explain it, that would be really helpful.

In essence, what I'm trying to say is, don't be too hard on yourself about it, you've done REALLY well not to use any cards for over 2 years :T Lenders will always have their own criteria, which probably changes from day to day and we'll never really know the key to their secrets!!

Silver x

beetlebunny

Well not had any ccj's but have had late payments in the past, plus moved address a few times. Will be going on the electoral roll for new address in March.

Will speak to one of the providers and see if there is anything they can do with the interest or transferring the others to that one if they would do a special rate. RBS are not so helpful though!

Your right though "silverco" incredibly frustrating!!! I cut all the cards up about 2 years ago, but two I haven't used for about 4 years!! and just keep paying the minimum as that's all I can afford...but if it was 0 interest i would be able to pay more and pay so much quicker...

MoodyBlues

I have a feeling one major part of it is the electoral roll. I have been refused too lately but haven't done anything other than move..

beetlebunny

Yeah I think the main reason is electoral roll, and few late payments.. Dont think it helps when I have moved address quite a lot in the past 2 years.

opinions4u

beetlebunny wrote: »

Yeah I think the main reason is electoral roll, and few late payments.. Dont think it helps when I have moved address quite a lot in the past 2 years.

In the current climate, most credit card companies are not remotely interested on taking late payers on to their books.

beetlebunny

Which is understandable, Its like a roundabout...If I could transfer the money, the payments would be smaller and easier to manage every month without causing me being late, and it would be paid off quicker.

I will speak to RBS to see if they can advise on them,