Balance Transfer for about £2000

Tixy

Sorry, my mistake, I'd just reused your example.
If accepted for that particular card then yes it would be 20months from opening.

rus4u

I was thinking what is the point of doing Balance Transfer if I just can get a credit card so I've applied for
Tesco Clubcard Credit Card online
http://www.tescobank.com/personal/finance/creditcards/clubcc/index.html
and they offering me only £400 and 21.9% APR so I've checked my Credit History with Equifax and as I knew already there is fine, always paid everything on time, don't own anyone any money but only 1 thing there which I am not sure about, at the address where I live for the last 6 years I've registed only a year ago to be able to vote..... can that be the reason for them giving me only £400 ? if that's the problem then what are my options? what can you advise me?

btw thanks for all the replies, really helpfull

Tixy

rus4u wrote: »

I was thinking what is the point of doing Balance Transfer if I just can get a credit card so I've applied for
Tesco Clubcard Credit Card online
http://www.tescobank.com/personal/finance/creditcards/clubcc/index.html
and they offering me only £400 and 21.9% APR so I've checked my Credit History with Equifax and as I knew already there is fine, always paid everything on time, don't own anyone any money but only 1 thing there which I am not sure about, at the address where I live for the last 6 years I've registed only a year ago to be able to vote..... can that be the reason for them giving me only £400 ? if that's the problem then what are my options? what can you advise me?

btw thanks for all the replies, really helpfull

Have you checked your credit files with experian and noddle as well? I believe tesco use experian for their searches.
If you are on the e/r now I wouldn't think that would be a major issue (assuming experian is showing you as being on the e/r.

In terms of reasons they may have only offerd you a low limit -
Are you employed or self-employed earning £14k?
is there any balance on your capital one card?
do you have any other credit accounts open? overdraft or anything?
Have you made any other recent credit applications?

It not unusual for credit card companies to open accounts with fairly low limits these days and then increase them after 6-12months of handling the account well. That said £400 does seem very low.

rus4u

I am employed, getting £1000 after tax monthly
My current balance on CapitalOne credit card is £200 but will pay it off when get my salary tomorrow
no just 1 credit card, overdraft on my current bank account is 10 pounds or something, will pay it off tommorrow as well
no, I haven't

rus4u

rus4u wrote: »

I am employed, getting £1000 after tax monthly
My current balance on CapitalOne credit card is £200 but will pay it off when get my salary tomorrow
no just 1 credit card, overdraft on my current bank account is 10 pounds or something, will pay it off tommorrow as well
no, I haven't

can £400 limit be cos of my balance situation on my credit card at this very moment? but I always pay it off as I get my salary at the end of each month

InsideInsurance

Ultimately only one company knows and they are unlikely to tell you.

My guess would be they may have concerns of your credit to spare income ratio given you already have the £2,000 available on one card and seem to have an approved overdraft too.

I am confused by your posts though as originally you said you wanted a card to do a BT on to enable you to buy a car that is below your current cards limit but then you say you are clearing your credit card every month.