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Balance Transfer Rejection

Beautiful-Moose
Beautiful-Moose Posts: 182 Forumite
in Debt-free wannabe
I just applied to do a balance transfer from Natwest of £2434.35 to a Virgin Money Credit Card account and got rejected.

I do have a Barclaycard with a £7000 balance on it but a credit limit of £10,000.

I don't get why I have been rejected? I have recently switched banks and only been with them for 2 months would that have anything to do with it?

I am transfering because Natwest sent me a letter saying they were going to up my APR on my card to 24% from 20%!!

Any help would be great as I feel a bit scared about my situation. I don't know what I can do and just want to cry.

Comments

  • matttye
    matttye Posts: 4,828 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker Debt-free and Proud!
    You can reject the rate hike from Natwest, you just won't be able to borrow any more on that card.
    What will your verse be?

    R.I.P Robin Williams.
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