Store Cards & Balance Transfers

rozmister

Hi,

I've got two store cards with a combined debt of about £550. I was wondering if there was anyway I could balance transfer this to a credit card and then get 0% interest on it for a bit? I'm currently paying 29.9% APR so 0% would be a big improvement and then I can pay it off over the 0% period in installments.

Also it said online that you need a really good credit rating and I don't know what mine is.

[Deleted User]

rozmister wrote: »

I've got two store cards with a combined debt of about £550. I was wondering if there was anyway I could balance transfer this to a credit card and then get 0% interest on it for a bit?

Depends on the store card. Some can be BT'd, some can't.

rozmister wrote: »

Also it said online that you need a really good credit rating and I don't know what mine is.

Check your credit reports with the 3 CRAs and see what they say. But if you have a history of missing payments etc, then your chances of being offered a BT are slim.

YorkshireBoy

rozmister wrote: »

I've got two store cards with a combined debt of about £550. I was wondering if there was anyway I could balance transfer this to a credit card

Some you can...some you can't. Which are they?

Also it said online that you need a really good credit rating and I don't know what mine is.

No-one knows what their credit rating is. Each lender scores you on their own set of criteria.

However, you can get a 'feel' for it by looking at your credit reports from Experian, Equifax, and (to a lesser extent) CallCredit. Don't waste your money on the credit scores though, just concentrate on the data contained within the report.

rozmister

The store cards are a New Look card and a Dorothy Perkins card.

I did recently get turned down for a bank loan which surprised me because generally my credits fine but when I went to see them they looked on file and found I was registered as unemployed so they thought it may be due to that. Could that effect my credit score? I didn't do a full application form or anything they just looked on my file to see if anything was showing as available.