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High Value Credit Card Transfers

Hi all,

I have an EGG Card, which leapt from 17 to over 21% interest. I have a balance of around £10k and am looking to transfer the balance.

My problem is that despite having a credit score of 989 (if i remember rightly, but certainly very good) balance transfers are generally set at around £3000 credit limit.

If you aspply for several cards this brings your score down - what can I do?

Comments

  • YorkshireBoy
    YorkshireBoy Posts: 31,541 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    ...balance transfers are generally set at around £3000 credit limit.
    For you you mean? Maybe the £10K Egg balance is affecting limits offered? Maybe you have other debt? Maybe it's your salary (which the people who sold you your score don't know about) that's too low in relation to your debts/available credit? Maybe you have too many unused cards still open?
    If you aspply for several cards this brings your score down - what can I do?
    If you get 3 or 4 of your £3K cards you won't need to make another application for 11 months or so...by which time the searches will have little, if any, impact.
  • stephane_2
    stephane_2 Posts: 3,076 Forumite
    You credit score generated by either experian or equifax is absolutely meaningless...just a waste of money. Each lenders will have their own criteria to assess your application, the credit limit you will very much depend on your income, level of debt and credit already available to you...
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