Access to too much credit

dantheman2010

Good afternoon all,

I have done a credit check on myself and see that I have had around 19 credit accounts over the past 7 years or so (I am 27), loans x 3 (2 settled, 1 outstanding) and the rest credit cards/overdraft. To my recollection I have 1 Barclaycard credit card with £7k limit and £0.00 balance and 1 Tesco Credit card with £5k limit and £2000.00 balance, I also have 1 Sainsburys loan with £17k owing, I have 1 overdraft £1.5k limit but not overdrawn. I have not defaulted on any payments ever but recent attempts to get a 0% interest card to put the £2k on have all been unsuccessful.

However, I worry that previous cards that say settled may still be a sign of "available credit" is this correct and also how do I write to all these cards to ensure they are closed as I dont have the card numbers etc to put as a reference?

Any ideas?

Thanks

Tixy

Your credit report shouldshow which accounts are active and which are closed.
If you simply stopped spending on a credit card then it is likely that it has remained active. Loans (once paid off )won't count as outstanding credit (well unless they were revolving loans such as an hsbc flexiloan where you can borrow the money back at anytime).

Do you not have any paperwork for your barclaycard at all?

If the barclaycard is still open I would contact them to ask what BT offers they have available. They usually do a LOB deal (6.9% I think) and may also be prepared to do a 0% offer.
This of course would not need a credit check (assuming it is still open).

dantheman2010

I have no BT offers as I think my credit score is crap through experian. So for now I have no choice.

Tixy

But if you had an open card available to you (such as barclaycard or any of the old ones that were not closed) they won't recheck your credit report with any of the credit reference agencies. If you had missed payments or made late payments when you had that particular card that would probably stop them giving you any repeat offers.

Even if a card provider doesn't advertise any BT offers to you, if you phone and say you will cancel the card unless there is an offer they do sometimes still give you them.

dantheman2010

Thats what I dont get. I did originally close the account and they said write to us if you ever want it opened again, so thats what I did in the hope I would have a BT offer, but I have no BT offers or options whatsoever, I have no idea why. I have emailed Barclaycard but they have said that at this point I have none.

Tixy

Have you looked at your full credit report?

Does everything appear correct on there?
Are you showing as being on the electoral roll? are all the accounts showing yours?
Have you got any missed payments or defaults showing?
How many applications have you made recently?

How long ago did you write to close the Barclaycard account? They won't let you become a customer again within 6months of closing the account.

dantheman2010

They closed the account only about one month ago and have reopened it fine for me. There are no defaults or late payments on my credit report, I am on the voters roll. I have made about 2-3 apps in last 2-3 months. Thats it.

clairbear1000

The loan is quite big, comparatlively to an average salary it could be affecting what lenders think they should give?

dantheman2010

My salary is a lot bigger than the loan though, but thats true.

RAS

Hi

If yoiu have made three applications in the last three months, then stop, as this will affect your rating badly.

dantheman2010

It was to get a 0% interest credit card, but I have stopped now, I will wait until the new year.