Suggestions on applying for a 0% BT card

kolin_2

Hello,

I currently have 2 Credit card accounts.
1)HSBC £3700 - This account was closed by HSBC in 2008 during a time when i was having a few money issues and i think i missed 1 payment on it. I'm currently paying this off at £140/month (17.9% apr).
2)M&S - £4700 - I was accepted for this in april 11 15mths @ 0% on purchases. It expires at the end of Jul12, currently paying off at £140/mth

I've just applied. and was rejected for a 22mth 0% BT barclaycard.

what should I do now?
Apply for a card that is smaller in length (like the 16mth virgin card)? I would like to get the balance transferred to a 0% card before the 0% period runs out, but i'm also aware that applying quickly for many cards isn't a good idea.

also is there anything HSBC could do for me? i'm aware they closed that CC account, but evening giving me a period of 12 mths or so at 0% would at least enable me to not have to pay interest on both.

scott_lithgows

HSBC run the M&S card so doubt you would be able to BT between them.
Try www.creation.co.uk

[Deleted User]

kolin wrote: »

also is there anything HSBC could do for me? i'm aware they closed that CC account, but evening giving me a period of 12 mths or so at 0% would at least enable me to not have to pay interest on both.

They won't make an offer on a closed account (where the rates can't be changed). And given you're carrying a balance, I'd have thought they would be need to be mentally impaired to swap a profitable account for a loss bearing account.

kolin_2

@zx81, but banks are mentally impaired.

Cash_Flow

kolin wrote: »

Hello,

I currently have 2 Credit card accounts.
1)HSBC £3700 - This account was closed by HSBC in 2008 during a time when i was having a few money issues and i think i missed 1 payment on it. I'm currently paying this off at £140/month (17.9% apr).
2)M&S - £4700 - I was accepted for this in april 11 15mths @ 0% on purchases. It expires at the end of Jul12, currently paying off at £140/mth

I've just applied. and was rejected for a 22mth 0% BT barclaycard.

what should I do now?
Apply for a card that is smaller in length (like the 16mth virgin card)? I would like to get the balance transferred to a 0% card before the 0% period runs out, but i'm also aware that applying quickly for many cards isn't a good idea.

also is there anything HSBC could do for me? i'm aware they closed that CC account, but evening giving me a period of 12 mths or so at 0% would at least enable me to not have to pay interest on both.

If you are able to provide us with you Debt vs Income ratio and available credit with other lenders?

If we can see the full picture we maybe better placed to offer advice/

kolin_2

income is around 1600 / mth
outgoings are 1225 / mth - this includes the 280 i already pay to both CC's
I have no loans (paid them off) and only other finance i have is
car - 209/mth

Cash_Flow

kolin wrote: »

income is around 1600 / mth
outgoings are 1225 / mth - this includes the 280 i already pay to both CC's
I have no loans (paid them off) and only other finance i have is
car - 209/mth

I would try Creation Finance.

http://www.creation.co.uk/credit-cards/

kolin_2

thanks for the creation links, i've applied (and was successful) for a creation purchase card, and will hopefully be able to apply for something better come november, in the meantime i can move my balance to 0% for 6 months.