Transfer from Vanquis

grogsy

I have a £2500 balance on my Vanquis. I am looking to transfer this to another card with a more favourable APR

MY credit is classed as Good on Equifax and I have no defaults/ccj's I have tried my current Bank (Santander) and was refused.
Any suggestions who might be willing to accept me.

chanz4

creation flybe

grogsy

whats the positives for flybe?

Consumerist

grogsy wrote: »

I have a £2500 balance on my Vanquis. I am looking to transfer this to another card with a more favourable APR. MY credit is classed as Good on Equifax and I have no defaults/ccj's I have tried my current Bank (Santander) and was refused. Any suggestions who might be willing to accept me.

The implication is that there is something on the file, e.g. late payments, which they don't like and the fact you have a Vanquis card suggests to me that you have had a troubled financial past.

There are any number of other reasons for rejection: your annual income, total debt, have you recently moved or changed job, the list goes on.

Unless you know why you might have been rejected, it's difficult to make suggestions.

Probably too late now but best advice for credit-repair cards is to spend a little each month and pay off in full.

grogsy

My credit is effected by a number of moves over the past few years. Recently bought my house and used the vanquis for important repairs (re-roof)

Consumerist

As a general rule of thumb, if your own bank won't give you a credit card then you are unlikely to get one anywhere else at a reasonable rate. If you now have a mortgage then your commitments (debts) are high and current thinking is that mortgage interest rates are going higher in the future. So, much depends on your LTV and income too.

Best I can suggest for now is to wait until you look to be settled - at least 6 months preferably a year at the same address before applying again. Make sure you're on the electoral role at your current address. Keep your credit file clean.