Cards for "Fair Rating"

Sheriffsam

Hi Guys,

This is my first post!

I have looked through this forum but can't seem to find anythig on this so thought i would ask.

I have a fair rating on Experian, with no defaults, although i have an arrangement in place on my lloyds overdraft which i am £300 away from paying off.

I have a credit card with vanquis and capital one to the tue of £600 total.

I am a home owner and am on the electoral role.

When trying to move from these nightmare cards in March time, i got 3 rejections. I thought i would wait it out for 6 months or so and see how things went.

I had a missed payment showing on my report which happened about 7 months ago.

Any recommendations on who would likely accept me to move my two balances onto a better card?

I have two other overdrafts that stand at £2000 and £1200 respectively.

Any help for a newbie would be very much appriecated!

InsideInsurance

Sheriffsam wrote: »

I have two other overdrafts that stand at £2000 and £1200 respectively.

Is their limits or what they currently stand at?

Most creditor will run like the wind from anyone living in an overdraft let alone two

smithers1981

Think he has 3 overdrafts as he's only £300 from clearing a Lloyds overdraft plus the other 2 think a 'fair' rating generous from info provided i would lean towards 'poor'

Sheriffsam

yes, one is my account i had as a student and as the interest is only paid on the bottom £500, i've left it (slap on the wrist needed!). The limit is £2000, but it is usually around the £1970 mark as i do service it with £50 a month that i use if i run out of cash.

The other is my main account which i get paid into, but it isnt on my experian report (I havnt looked at Equifax) and neither is the joint account i have with my girlfriend, although this is nearly always in the black so is ok.

I have thought that my score should probably be more poor, although i havnt missed a payment in 7 months, and have no missed payments on creidt cards at all.

Is there a card that is less that 30% that is likely to accept me or will i need to get rid of the overdrafts first?

Thanks for the advice guys.

smithers1981

One way to find out apply for a balance transfer card, try Nationwide soft search first this will give you an idea on chances of being approved if offered a decent limit at a decent rate proceed, i would also have a gamble and go for a Barclaycard you may be surprised and you have nothing to loose. If declined focus on clearing debts with highest interest first most likely to be Vanquis.

Sheriffsam

Thanks. From reading the other post on nationwide, it sounds like anything below a 15.9% rate with about a £2000 limit means i could be accepted.

I went for a Barclaycard in Feb this year and was initially accepted and then declined as i was not on the electoral role!

I will have a look at Nationwide i think.

Thanks for the help guys.

:j

smithers1981

if you are now on the electoral role then why not give Barclaycard another go? Nationwide offered me £3200 @ 19.9% in soft search and that is what i got.

Sheriffsam

I just did a soft search with Nationwide and it offered 19.9% at £1200. I'm feeling this is a decline so will give it a while. My plan was always to wait til the new year and try and get rid of my lloyds account as i feel as though this might be damaging my rating massively.

This nationwide thing is great though as it gives you an indicator of how well you are doing.

Is the barclaycard one the same with a soft search?

Looks the like minimum your can get ratewise with Nationwide is 15.9% now, if you are not already a nationwide customer.

RichL74

Nope, as I said in the other thread, I have 9.9% on mine.