New credit cards

MoodyBlues

My debt is currently just over 22k. I have a credit card that has a massive APR on it (it went up recently from 15.75 to 20 odd percent). I earn about 25k a year, which hopefully should be going up later on this year.
Now my issue is the following: I have been trying to get a 0% credit card or a low LOTB card, however I don't want to hit my credit score too much - having applied and been declined for a Santander card. A couple of my old credit cards (with high APR's) have risen my credit limit when I didn't ask them to in recent months - could this have effected my score?
I just wondered if anyone else was in a similar situation and if they have been successful in applying for a low LOTB card??

Thanks in advance for your replies.

Tixy

Hi Moody

The amount of available credit you have is as significant as the amount of debt you have. Is the £22k all unsecured credit? If so I would imagine that at the moment you will struggle to get any new credit with a salary of £25k. You are well over the ratios that lenders seem to be using at the moment.

If you are not aware - should you get any more interest rate increases you have a right to opt out of the increase and to continue to pay back the debt at your current rate (though you won't be able to spend on the card anymore).

MoodyBlues

Its all unsecured debt. About 6k is what's left on a loan. The sum total of my credit limits are 23k, however its mainly on "bad credit" cards approx 17k. The sad thing is that one of the bad cards is offering 0% for 6 months but there's no way I would clear it by then....
I was aware of that but I need at least one card that I can use for emergencies.

Thanks for the info.