turned down

pukkamum

Hi we have just been turned down when applying for an mbna credit card we were hoping to transfer a balance to get 0% for 20mths, now it's not a major deal, would have just been better, got £2k on our barclaycard with a limit of £5k paying double the minimum payment and extra per week, however, i am now worried that i have ruined our credit score.
Would one turned down application make a huge difference?

[Deleted User]

No.

(And no again, to meet the minimum character requirement.)

Voyager2002

If you are going to apply for another card, I suggest that you first ask Barclaycard to reduce your credit limit. The fact that you have credit available with them may reduce your chances of getting accepted elsewhere.

pukkamum

Deleted_User wrote: »

No.

(And no again, to meet the minimum character requirement.)

Thank you zx81 that has put my mind at rest, may Manic Miner or perhaps Chucky Egg, forever guide your way...........

pukkamum

Voyager2002 wrote: »

If you are going to apply for another card, I suggest that you first ask Barclaycard to reduce your credit limit. The fact that you have credit available with them may reduce your chances of getting accepted elsewhere.

Hmmm very interesting I assumed that having credit available with my barclaycard would make it easier to get another card!

Cash_Flow

Voyager2002 wrote: »

If you are going to apply for another card, I suggest that you first ask Barclaycard to reduce your credit limit. The fact that you have credit available with them may reduce your chances of getting accepted elsewhere.

It's only going to affect your chances of obtaining a new card if you have stacks of available credit which is not being used.

Before you give out advice you should try and ascertain all the facts.

OP if the Barclaycard is your only line of credit I would advise you against reducing your credit limit, as this will impact the overall utilization of credit available to you.
Furthermore lenders have no way of knowing that you requested the limit to be reduced, they're more likely to assume that it was done by your existing lender for negative reasons.

BugsyBrowne

I have to agree with ^above^ as was going to say the same to voyager2002 but couldn't be bothered at the time.