which card??

sarjay32

Hi guys,

I recently began posting on here after being a 'lurker' for a couple of years and have recieved excellent advice and tips so am once again after some help.

I have a vanquis credit card with a balance of approx £1400 on it, i just got my free credit report and all is looking good on it - i.e all credit up-to-date, no late payments etc. (although didn't go for the 'credit rating' thing cos you have to pay for that!

I am now wondering whether to apply for a new lower rate CC to transfer my balance onto so i have a lower rate of interest to pay rather than the extortionate rates that vanquis charge!! the question is......which card to apply for?

I googled it and there are loads and loads of suggestions/adverts - don't want to just apply for any old card and have a rejection on my file so any help/advice here guys would be great.

Thanks

Sarah

lisyloo

How long have you had the Vanquis card?

Consumerist

If you've had the Vanquis for at least six months, preferably twelve, then you should be ok with a punt on a lower cost card.

Edit
Wait till at least three months after the date of the rejection. If in any doubt. best advice is to wait a little longer - you don't need another rejection on your file.

sarjay32

sorry forgot to say i've had the card since 2008, never missed a payment, had 2 credit limit increases and although i don't pay them off in full every month i do pay more than the minimum amount.

thanks

sarah

Consumerist

sarjay32 wrote: »

sorry forgot to say i've had the card since 2008 . . .

In that case you should have no problem applying for a mainstream card. You should be able to apply for a card with a 0% balance transfer offer providing your credit record is clear of any late/missed payments etc.

Be advised, however, that Vanquis can be a bit sniffy about paying off their debt by doing a balance transfer. But it can be done.

sarjay32

ok thanks, will try for a mainstream 0% BT offer card. Will go and investigate which ones are offering the best deals now. Yeah i have been reading some of the posts about vanquis not playing ball with BT's but there are ways round it!

thanks again

Consumerist

You're welcome.

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