Heellllppp!!!

budgie2

Hi everyone, I am in a bit of a pickle and hope that someone won't mind giving me advice please? I have quite a lot of borrowing against my name, including just under £14,500 on a credit card with Smile.

The card is due for renewal at the end of this month and I've had a letter from them (backdated to March 30!) saying that they can't send another card out to me, no reason given! :mad: I have not been late with any payments or anything like that. So I can't understand it but am really annoyed with Smile; I've emailed to ask what is going on, but have not had a reply yet.

I am guessing that they don't want to keep giving me a borrowing facility because I asked them for a £10,000 personal loan about five months ago - after I inherited a house that needs building work done on it. After my bank (Smile) refused, I got a personal loan elsewhere and the building work will be finished within a few weeks, when I will have tenants moving in and paying me rent. So in the past six months my financial situation has markedly improved, and Smile knows that.

My question is... does anyone know of a credit card company that will do a balance transfer for that amount, to someone with a lot of debt already? I was refused by several companies that I went to for the personal loan but I have a steady job and a good income - which is about to increase by £550 a month. I want to transfer my balance away from Smile and pay someone else the interest - and obviously, the Smile card would be closed so I'm not INCREASING my borrowing, just moving it. I have applied to 2 firms recommended by MSE and both said no. Can anyone recommend a firm to try please?

Thanks EVER so much for your time...

Storm

Hi Budgie,

You're probably going to get more help on the credit card board in terms of looking for someone that will BT that amount - however, it is a lot of debt to have on a credit card, and so DFW is the place to be for advise & support on getting it all cleared

Storm

james32_uk

Smile's email system is rubbish. Ring them. If they can't help ask to be put through to a supervisor (they DO exist dont believe them if they say they're not available) and then keep on until you get a satisfactory response.

frugalpam

budgie2 wrote: »

Hi everyone, I am in a bit of a pickle and hope that someone won't mind giving me advice please? I have quite a lot of borrowing against my name, including just under £14,500 on a credit card with Smile.

The card is due for renewal at the end of this month and I've had a letter from them (backdated to March 30!) saying that they can't send another card out to me, no reason given! :mad: I have not been late with any payments or anything like that. So I can't understand it but am really annoyed with Smile; I've emailed to ask what is going on, but have not had a reply yet.

I am guessing that they don't want to keep giving me a borrowing facility because I asked them for a £10,000 personal loan about five months ago - after I inherited a house that needs building work done on it. After my bank (Smile) refused, I got a personal loan elsewhere and the building work will be finished within a few weeks, when I will have tenants moving in and paying me rent. So in the past six months my financial situation has markedly improved, and Smile knows that.

My question is... does anyone know of a credit card company that will do a balance transfer for that amount, to someone with a lot of debt already? I was refused by several companies that I went to for the personal loan but I have a steady job and a good income - which is about to increase by £550 a month. I want to transfer my balance away from Smile and pay someone else the interest - and obviously, the Smile card would be closed so I'm not INCREASING my borrowing, just moving it. I have applied to 2 firms recommended by MSE and both said no. Can anyone recommend a firm to try please?

Thanks EVER so much for your time...

The thing that comes to my mind is, if you've been applying to several companies already for personal loans, it's going to leave footprints on your Credit File, which is never a good thing. I'm not sure how long these stay on your file, but too many applications for credit can be harmful to your creditworthiness. At a guess I'd leave it for at least 6 months before approaching anyone else.

Pam