Declined for balance transfer onto new card, what next?

queenjude

Hi,

I've been declined for a MBNA credit card transfer so i'm a bit unsure of what to do next. Will it affect my credit rating if I try and apply of another balance transfer straight away? I've never had any problems before getting credit or doing balance transfers before and I haven't had any missed or had any late payments recently. My current 0% interest deal runs out on my RBS credit card this month so any help would be appreciated.

Thanks.

Jude

Tixy

You could try for another application if you've only made the mbna one recently. Its generally advised not to have more than around 3 credit applications in a 6month period.
That said before you just apply for another I would try to work out why you may have been refused by MBNA.

You say you haven't had any missed/late payments recently - what do you mean by recently? are there are missed payments showing on your credit file at all?
Have you looked at your credit files recently?
Do you have any old unused card accounts that you have not closed down?
Do you already have a card issued by MBNA under one of their many brands?
Are you on the electoral roll?
Are you employed?
How much do you earn?
How much is your total existing debt overall all accounts?
How much is your total credit (including unused credit)?