Clearing credit cards - Likelihood of acceptance with my credit score

seengee

Hi all.

I have 2 credit cards with roughly £2500 that i want to clear onto a single card - one is a HSBC mastercard i've had for years and the other is a Virgin Money card i originally got to do a 0% Balance Transfer and failed to clear off the balance (this card has approx £2000) on it. My credit isnt great (more on that in a minute) so i'm concerned i wont be able to get another similar 0% Balance Transfer. Looking around on this site it looks like a good option would be the Barclaycard Simplicity with the long-term 6.8% APR. I'm happy that that card will do what i need but i'm a bit unsure whether i will get offerred a card or whether there's another option i should explore first. I have just had a credit report done though creditexpert.com and i scored 861 which is "Fair" but was only 20 points under a "Good" score. Not sure though where this would stand me with regard to what am i likely to get accepted for? Are there any rough rules/guidelines about what a minimum credit score should be for each option? On this site it says this about the Simplicity card:

Credit Limits: Poor - Mid. Ease of Acceptance: Mid

However, on the Barclays site it says you need a "Good" score. I know they will be using their own rating system so its hard to know how i might fare. Would be interested to hear if anyone has any recent examples of being accepted / denied for this card in similar circumstances to me?

Thanks in advance.

BugsyBrowne

seengee wrote: »

Hi all.

I have 2 credit cards with roughly £2500 that i want to clear onto a single card - one is a HSBC mastercard i've had for years and the other is a Virgin Money card i originally got to do a 0% Balance Transfer and failed to clear off the balance (this card has approx £2000) on it. My credit isnt great (more on that in a minute) so i'm concerned i wont be able to get another similar 0% Balance Transfer. Looking around on this site it looks like a good option would be the Barclaycard Simplicity with the long-term 6.8% APR. I'm happy that that card will do what i need but i'm a bit unsure whether i will get offerred a card or whether there's another option i should explore first. I have just had a credit report done though creditexpert.com and i scored 861 which is "Fair" but was only 20 points under a "Good" score. Not sure though where this would stand me with regard to what am i likely to get accepted for? Are there any rough rules/guidelines about what a minimum credit score should be for each option? On this site it says this about the Simplicity card:

Credit Limits: Poor - Mid. Ease of Acceptance: Mid

However, on the Barclays site it says you need a "Good" score. I know they will be using their own rating system so its hard to know how i might fare. Would be interested to hear if anyone has any recent examples of being accepted / denied for this card in similar circumstances to me?

Thanks in advance.

https://letmechoose.barclaycard.co.uk/

seengee

Thanks for that. Little unsure exactly how filling out that form will impact on credit score, it says it leaves a "search footprint" - is that in a similar to what the credit checking agencies leave and nothing to worry about?

BugsyBrowne

seengee wrote: »

Thanks for that. Little unsure exactly how filling out that form will impact on credit score, it says it leaves a "search footprint" - is that in a similar to what the credit checking agencies leave and nothing to worry about?

Mate its a footprint no other company will see that.
That is why barclays set it up in the first place to stop people applying willy nilly.

PNPSUKNET

no its a soft search, not visable to others

seengee

ok thanks guys. I've used that tool and its denied me right away. Not sure if i should be surprised by that or not given what this site says about eligibility for that card being "poor to mid" and i've got at least mid-level credit according to creditexpert

BugsyBrowne

seengee wrote: »

ok thanks guys. I've used that tool and its denied me right away. Not sure if i should be surprised by that or not given what this site says about eligibility for that card being "poor to mid" and i've got at least mid-level credit according to creditexpert

Barclaycard does a soft search on equifax not experian,so you need to check your equifax report to see if theres anything on there thats not quite right.

seengee

Right okay, i'll give that a try. Another good long term APR option was Halifax's Easy Rate card- any idea who they use?

BugsyBrowne

seengee wrote: »

Right okay, i'll give that a try. Another good long term APR option was Halifax's Easy Rate card- any idea who they use?

Mate try sygma silvercard

seengee

no site there https://www.your-application.co.uk/

BugsyBrowne

seengee wrote: »

no site there https://www.your-application.co.uk/

Type in sygma silver card