refused balance transfer

teajenny_3

Hullo all

Have 6,500 outstanding on a lloyds credit card and they have stopped a 0% interest charge agreement we made as of 14 months ago without infoming me why


As such looking to do a balance transfer and was refused by my own building society, no letter as to why yet

Was in debt for about the last 4 years but have cleared them all bar this card

did a credit check and had 2 missed payments showing, not sure what they were! didnt think i have missed a payment for 4 years! apart from that it looked fine to me

Can anyone advise me as best route to go down for balance transfer; can afford 250 a month to clear this but bit stuck as to who to ask

any advice would be much appreciated

ta

Beast

It's getting harder to get a 0% deal right now as lenders tighten up.

How much do you earn and do you have any additional debts i.e. loans? These could all contribute to the refusal.

CannyJock

MBNA or HBOS would have been the standard answer, I've always found them reasonably generous.

When you say a 0% interest charge agreement, do you mean an Arrangement To Pay that shows on you credit report?

Honest_broker07

I would guess they've stopped the 0% deal cos of the missed payments.

The problem amy also be you owe £6,500 on the card and are saying you can repay at £250 PCM

given many cards are charging around 2% per month, you would only be repaying £120-150 a month, taking at least 3 years to pay it off

chattychappy

teajenny wrote: »

Have 6,500 outstanding on a lloyds credit card and they have stopped a 0% interest charge agreement we made as of 14 months ago without infoming me why

Well, I would ask them why! If it's because of missed payments that you deny, perhaps there was a mistake on their side. Or if your mistake maybe they'll reinstate it if it's a first offence.