Balance transfer with less than perfect history...

olly22n

hi guys.

I have several thousand on a credit card, my apr is 21% and i am looking to transfer this to a cheaper card.

My credit rating is less than perfect, mainly as I have moved house thrice in the past 3 years and have missed a couple of payments.

Which is the best card to apply for (i am aware my credit rating will be affected if i use a scattergun approach)?

I currently have a Barclaycard Goldfish (this is the one at 20%) and a HSBC card (nothing on this and closed today)

I applied for an MBMA 0% card today and was refused.

So, what is my best plan of attack??!!

Olly

YorkshireBoy

olly22n wrote: »

So, what is my best plan of attack??!!

Get your credit reports from the CRAs, and see what the lenders see when they search you.

Then come back and post up what they say, ie on electoral roll, address/ER continuity, financial associations, late payments, total available credit, loans, mortgage, etc

You'll have time to do this as the HSBC card probably won't be marked as settled (and the available credit removed) for another 2 months anyway.

What's the limit and debt on the Goldfish card? And what's your income?

olly22n

YorkshireBoy wrote: »

Get your credit reports from the CRAs, and see what the lenders see when they search you.

Then come back and post up what they say, ie on electoral roll, address/ER continuity, financial associations, late payments, total available credit, loans, mortgage, etc

You'll have time to do this as the HSBC card probably won't be marked as settled (and the available credit removed) for another 2 months anyway.

What's the limit and debt on the Goldfish card? And what's your income?

Thanks.

I don't really want to disclose much more information on an open forum than I already have. Can pm if you like.

I did a credit check last year and I was marked down on address continuity and one missed payment. I have missed one more since then.

My income is over 6 times the amount on the card. I have a mortgage of 25% of my houses value and other than a car on lease, I have no other borrowings.

BugsyBrowne

olly22n wrote: »

Thanks.

I don't really want to disclose much more information on an open forum than I already have. Can pm if you like.

I did a credit check last year and I was marked down on address continuity and one missed payment. I have missed one more since then.

My income is over 6 times the amount on the card. I have a mortgage of 25% of my houses value and other than a car on lease, I have no other borrowings.

Olly you not disclosing info why! It's not as if your putting your passport photo up & holding your debit card while your standing outside your house.

olly22n

BugsyBrowne wrote: »

Olly you not disclosing info why! It's not as if your putting your passport photo up & holding your debit card while your standing outside your house.

I don't understand what yuou mean?

I would rather not post how much I owe on my credit card on a public forum.

BugsyBrowne

olly22n wrote: »

I don't understand what yuou mean?

I would rather not post how much I owe on my credit card on a public forum.

But why who cares mate you could be Santa Claus for all we know.

Well unless a member helps you through PM then you won't get no help!

sharpy2010

Olly we don't know you personally as you havent given us identifying details, so for all we know you could be Steve Smith living in Livingston, or Colin Peters living in Peterborough, so does it really matter if you disclose your debts on here? Especially if you are asking for some help!

olly22n

Well yes, as I use this user name on many other forums and didn't have the foresight to change it when I registered.

iyswim?

YorkshireBoy

Have you done/started to do what I suggested in post #2 yet?

I'm not about to start second guessing your debt or income (although several £K could be 3, making your salary c£18K+...then again it could be c£8K making your salary £50K+...see what I mean? The advice would vary depending on your numbers), or analysing the cryptic information provided by yourself about equity (althought that's largely irrelevant), so the best I can come up with is a suggestion to try a card from Sygma Bank (google them).

But that suggestion is probably worthless, yet it's the best you're going to get!

olly22n

YorkshireBoy wrote: »

Have you done/started to do what I suggested in post #2 yet?

I'm not about to start second guessing your debt or income (although several £K could be 3, making your salary c£18K+...then again it could be c£8K making your salary £50K+...see what I mean? The advice would vary depending on your numbers), or analysing the cryptic information provided by yourself about equity (althought that's largely irrelevant), so the best I can come up with is a suggestion to try a card from Sygma Bank (google them).

But that suggestion is probably worthless, yet it's the best you're going to get!

Thank you - I have a credit report, but I couldn't get a credit score from equifax last night, so will try again tonight.

Have tried to PM but your inbox is full.

YorkshireBoy

olly22n wrote: »

...I couldn't get a credit score from equifax last night, so will try again tonight.

Don't waste money on 'scores'...it's the raw data on your credit report that's important.

Have tried to PM but your inbox is full.

The problem with PMing is that you only get one lot of advice. Far better to go public and gets lots of (perhaps differing) opinions and suggestions.

Does the report you do have show a continuous ER address? Or have you 'disappeared' for months/years at a time?