How do I improve my score to get a 0% balance transfer?

vectrex

I would think hard before reducing your available credit... I did this earlier in the year... I had 18K on a 0% card.... then decided I was going to clear it.... I had got it down to 14 or 15K and thought it would help if I lowered my available credit limit... I thought this would help my credit rating.

I'm down to about 11.5K now.. but if I had left my original credit limit I would be down to about 60% of the available credit on that card. As I reduced the limit it looks like im still using about 85% of the credit on that card.

I've been doing some soft searches on other cards.... and I'm still not getting great chances of shifting debt around (about a 50/50 chance). So I'm not applying for any cards until things look a bit more promising.

So I personally think I would have been better off just leaving my card credit limit where it was and paying it off!

Its hard work... minimum payments started at about 340 a month... they are down to 270 a month... but I'm sticking to paying 300 a month... I'm determind to keep this up and there is an end in sight.... well... maybe in the far distance!

Cycrow

i recently got declined for a balance transfer, and the only negative i could find on my report was that im using alot of my credit (80%)
so reducing your credit limits would mean you end up using more of your available credit which can be bad

Thrugelmir

The_Boss wrote: »

You can easily identify those people and it has been possible to do so for a long time. There is the 0% interest marker on a credit file coupled with whether the user has been making only the minimum payment.

The sharing of more detailed data has been trialled and tested by a number of card issuers more recently. This will enable patterns in usage to be identified by the lenders in their algorithmns when processing an application.