Acceptable score for 0% deals

recovering_spendaholic

I have a 0% deal with Virgin (MBNA) which ends around now and the new APR will be 25%. My credit score (experian) is 839 which is listed as fair. Do you think I will be able to get another 0% deal anywhere or do you need a score of excellent to get such a deal? It is a real pain as the payments will be crippling as I owe £8800 on it:eek: I don't want to apply and get turned down IYKWIM

michael1983l

Experians score means nothing at all and is a waste of money, I would suggest anything lower than 999 means no because I got 999 and cannot get credit. They make it up

recovering_spendaholic

michael1983l wrote: »

Experians score means nothing at all and is a waste of money, I would suggest anything lower than 999 means no because I got 999 and cannot get credit. They make it up

What is the best way to check your score then?

michael1983l

Thre isn't as each lender has its own scoring criteria. The only thing you can do is look at the obvious on your file and make your own judgment as to weather you think they will take a risk on you or not.

There is a few threads on credit scoring on here, have a look and see if you are doing all the right things.

You can always use the money extra website (search in google) who take a soft look at your credit file and match you to companies they think your credit file would be acceptable with. There are no guarantees though.

digitalphase

If you subscribe to Credit Expert, they do a 'lower my bills' thingy where they check your report and try and match you up with suitable products.

It worked for me recently, and I was accepted for the Barclaycard they matched me with.

michael1983l

digitalphase wrote: »

If you subscribe to Credit Expert, they do a 'lower my bills' thingy where they check your report and try and match you up with suitable products.

It worked for me recently, and I was accepted for the Barclaycard they matched me with.

They only match you with companies that are their affiliates, which isn't many.

BugsyBrowne

michael1983l wrote: »

They only match you with companies that are their affiliates, which isn't many.

True lower my bills its about as good as putting a load of credit card companies in a hat then picking one out.

exel1966

recovering_spendaholic wrote: »

What is the best way to check your score then?

There is no such thing as a numeric score the way you're thinking or as portrayed by Credit Reference Agencies. Everyone has a credit rating which is determined by their previous/current credit/financial/personal history which will determine future lending, but all companies have different operating criteria on how they assess an applicant, therefore there is no hard n fast rule.

One company may give you credit, another won't ! There's no possible way to know in advance who will and who won't. The 'cleaner' your file, the better chances of credit.

You'll have to apply and see what happens, a search will be recorded on your file, but the outcome won't. If you haven't had many recent searches then new applications now shouldn't affect you too much.

Any

The most important things for judging your credit history...

Have you had many searches in your file in the past 6 months?
Have you ever had missed payments? If so, how long ago?

Another things to be looking out for...
What is your current available credit % in comparison to your salary?
Do you move often?
Are you on electroral roll at your current address?
How long are you in your job for, is it employment or self-employed/contract, can you be viewed as "stable" person (not moving around, not moving jobs around).

These are usually some of the criterias the lenders look at. And then it is up to them to decide whether all the answers match with their risk profile.

digitalphase

star-fire wrote: »

True lower my bills its about as good as putting a load of credit card companies in a hat then picking one out.

Funny how they matched me with the right card then isn't it.

As usual, you haven't added anything constructive to the thread, just picked on something I said. Typical of you.

michael1983l

digitalphase wrote: »

Funny how they matched me with the right card then isn't it.

As usual, you haven't added anything constructive to the thread, just picked on something I said. Typical of you.

Actually it is true, I have used it and it always comes up with barclays, capital one and co-operative. I have an account with all 3 already. Never any others.