CC with a high credit limit

spendaholic75

Hello MSE's, hope your not too chilly!?

I have had a Virgin Card for a few years & owe just under £2,500 on it. I would like to do a balance transfer, but both Egg & Barclaycard have only offered me a low credit limit, so therefore, not enough to cover the transfer. I cancelled them both. A lot of cards seem to be MBNA & so is my Virgin, so I can't do a balance transfer. Does anyone know of a card that will allow me to a full balance transfer, with a higer credit limit? As I would like to do that, then destroy my Virgin card.

Thanks for any help!

Sasha

CLAPTON

why did you cancell the other cards?
surely something transferred at 0% is better than nothing

stephane_2

That was a silly mistake to close them down....if they both given you a low limit, they must have considered that their risk was high, now you might struggle. If your equifax credit file is in good order, maybe you should try the Creation Credit card from Sygma, they'll only search Equifax & they have a balance transfer at 0% for 15 months and if successful even if they don't give you the limit you want, keep it and transfer as much as possible onto it....

spendaholic75

Thank you. I cancelled them because I didn't want to have a few cards with small amounts on, I want to transfer the full amount, so I only have 1 card (and 1 payment)

spendaholic75

Thank you Stephane. I will try Sygma

stephane_2

spendaholic75 wrote: »

Thank you Stephane. I will try Sygma

Let us know how you get on...if accepted they'll give you an instant decision, if referred you'll get the 7 to 10 days message...good luck

spendaholic75

Oh my go they turned me down!? Oh well, back to the drawing board...............

stephane_2

spendaholic75 wrote: »

Oh my go they turned me down!? Oh well, back to the drawing board...............

If Sygma has decline your application then they must be something wrong as they are more lenient compare to others. Have you recently checked your file with Experian & Equifax, do you have any late payments, what is your income compare to debt?

spendaholic75

I will check my Experian file. Maybe it's because I applied for the Barclaycard & Egg card?

exel1966

spendaholic75 wrote: »

Hello MSE's, hope your not too chilly!?

I have had a Virgin Card for a few years & owe just under £2,500 on it. I would like to do a balance transfer, but both Egg & Barclaycard have only offered me a low credit limit, so therefore, not enough to cover the transfer. I cancelled them both. A lot of cards seem to be MBNA & so is my Virgin, so I can't do a balance transfer. Does anyone know of a card that will allow me to a full balance transfer, with a higer credit limit? As I would like to do that, then destroy my Virgin card.

Thanks for any help!

Sasha

MBNA are normally the most generous when it comes to credit limits. EGG are usually pretty good with limits for those with a decent history.

For MBNA your current limit is relatively small which suggests you don't have the history/income to warrant a higher limit meaning you're most unlikely to get a card elsewhere with the limit you want and that's backed up by EGG's/Barclaycard's decision to give a small limit.

If this is genuine I'd stop applying for any more cards as you're doing more damage than good.

stephane_2

spendaholic75 wrote: »

I will check my Experian file. Maybe it's because I applied for the Barclaycard & Egg card?

Sygma only search Equifax.....