Applying for a card with 0% on balance transfers

Chunk1_2

Hi, I need a bit of advice. I have applied twice in about the last 18 months for a credit card with 0% on balance transfers, and have been refused both of them. I think this was because I have moved house a few times, and may not have been on the electoral roll. I have now been in my current house for a year, and I am on the electoral roll. I have about £2500 on my credit card and am paying about £50 a month which is fine, but obviously I am only really paying off the interest. I want to apply again as I will soon be starting a new job where I will be classed as self employed, and I think this will make it difficult for me to borrow money etc for a while.
What I am wondering is how damaging it is to my credit rating to be declined for any of these cards twice, and possibly a third time. Any advice would be great. Thanks

CLAPTON

credit files only show you have applied for credit and not whether you were successful.

if you are only paying the minimum on your credit card that will show up on your credit file and is seen as a negative as it shows you are struggling to manage

if you use your OD regularly that is also a negative

if you have 2500 on a CC at lets say 20% APR and only pay 50 per month then it will take over 8 years to pay off and cost you over 2,000 in interest; think about it.