Advice needed please.

ohnno

Morning everybody.
Just some sound advice wanted. I have 2 credit cards that i'm paying off by D.D. one is Tesco which i owe about £4,500 and the other is Capitol One which i owe £1,500.
I have a low credit score and i've tried for new cards to balance transfer to 0% but get knocked back :-(, is there any way to raise my rating or are there any companies that will accept me ? Can i ask the ones i'm with to lower the APR on them or not ?
I have never missed a payment so don't understand why i can't get another to Balance transfer to a 0%.

Thanks xxx

Shoe_Gal

Not sure but I think making several applications close together will damage your score. It makes you look desperate for more credit

There have been several success stories on here where people have managed to get rates lowered - must be worth a try

Good luck

La_escocesa

Hi,

I know it's not exactly what you're looking for but it might be easier to get a life of balance card. At least then the balance would be at around 4 or 5% rather than your current APR.

I've never asked a cc company if they'd lower my APR but when I've cleared the balance of one they've offered me a 0% balance transfer deal. Once they did this when I called to cancel it. It might be worth throwing everything at the £1500 credit card and then asking what they could offer you if you transferred a new balance to them.

Good luck!

the_cat

Are the cards you already have up at their maximum limits? If you have credit 'spare' on them it can make it harder to get a new card

If this is the case, reduce the limit to just over the balance you owe. it may help a bit

Alternatively if you have spare credit on one of the cards you could transfer the balance of the other to amalgamate them. You might then be able to persuade the newly cleared card company to offer you a better rate.

ohnno

Thanks for all the tips,much appreciated . Good luck to all xxx :beer:

Butti

ohnno wrote: »

Morning everybody.
Can i ask the ones i'm with to lower the APR on them or not ?
I have never missed a payment so don't understand why i can't get another to Balance transfer to a 0%.

Thanks xxx

Ohnno - Have the rates gone up over the past year? You could ask the CC companies to reduce the rate to the original rate (One of the first posts I did was on this subject so if you check against posts by me it should be there with the legal language)

Alternatively try a life of balance card where a low rate stays throughout the life of the card, maybe try this in about 6 months if you have applied for a lot of credit recently.

B

Butti

Butti wrote: »

This is what I sent to M&S money which saw them respond with an offer to hold the rates if I closed the account and paid off the remaining over a time convenient to me.

The fair principles that the banking community agreed with the government in January 2009 included the option to be offered to customers of freezing their current rates. Apacs ( now the UK Payments Administration Ltd) have said that you have to give me this option. I would like to be offered and take this option.

I look forward to hearing from you in the next 14 days. If this situation is not resolved within that period I shall be writing to the Financial Ombudsman.


Knew I'd find it eventually!

B

Budgetman

Hi there

I've been trying to go through the various forums but there's loads so I'm hoping that I can piggy back off the back of this thread and get some advice. Basically I have some CCs with 0% Balance Transfer offers set to finish soon and I'm looking for the best way to manage them and need help! heres the situation:

LTSB MC - bal £4800 - limit £5100 - 0% until May 10
Bcard - bal £3500 - limit £6000 - 6.9% for the life of balanc
Argos - £4400 - limit £6500 - offers have finished so now 22.9% (so need to shift asap!)

I also have a Virgin Card bal £0 - limit £8500 - offer available is 0% til august with 3.5% fee (i think)

So I would really appreciate it if someone can advise me on how best to manage these, I've signed up for Experian's trial credit check but yet to get the confirmation but from doin the money xtra check i assume my rating is ok, im hoping not to have to apply for a new card as i'll be lookin to remortgage later this year.

Any advice will be greatly appreciated! thanks