What to say when appealing a CC decision?

tasha-debt

Hi,

Just a quick question. I have three CC that have moved out of the interest free period. Have just applied for a Royal Bank of Scotland card, I think I will be turned down due to having debts of £16k (to add I am looking to balance transfer the two smaller cards to the new one and close the other cards, not spend more), in the application I put the card numbers in plus the amounts to balance transfer.

If they do reject me I think I can talk to someone to appeal, is their anything I can say to make them change their minds (i.e set up a standaing order for a fixed amount higher than the min payment). I have totally changed my ways and have not added to the debt but even though I am paying a high amount to each card I am being charged £135 interest per month across the three cards.

Also as and when I clear a few hundred from a card I am lowering the credit limit, but my friend said that is a bad idea as it will show on my credit report that I use 95% of my avaliable credit.... should I just leave the limits alone now?

Thanks

Tasha

BugsyBrowne

tasha-debt wrote: »

Hi,

Just a quick question. I have three CC that have moved out of the interest free period. Have just applied for a Royal Bank of Scotland card, I think I will be turned down due to having debts of £16k (to add I am looking to balance transfer the two smaller cards to the new one and close the other cards, not spend more), in the application I put the card numbers in plus the amounts to balance transfer.

If they do reject me I think I can talk to someone to appeal, is their anything I can say to make them change their minds (i.e set up a standaing order for a fixed amount higher than the min payment). I have totally changed my ways and have not added to the debt but even though I am paying a high amount to each card I am being charged £135 interest per month across the three cards.

Also as and when I clear a few hundred from a card I am lowering the credit limit, but my friend said that is a bad idea as it will show on my credit report that I use 95% of my avaliable credit.... should I just leave the limits alone now?

Thanks

Tasha

Whats your income?

tasha-debt

£25,000 per year.

Since Jan 2009 I have cleared nearly 5k of my debt but since my CC run into interest I have been struggling to make a dent in them.

stephane_2

With that level of debt compare to your income you'll never get enough credit to cover what you want to transfer, you are probably considered as very high risk for most lenders....

tasha-debt

I only want to transfer 3k to the new card. Is it totally not possible?

stephane_2

You can always try....but I very much doubt you'll get any more credit until you bring your level of debt to an acceptable level

tasha-debt

What would they consider an acceptable level? Thank you for your advice.

USM

You're unlikely to get any additional credit until your total borrowing is down well below 50% of your income.