Money Transfer Credit Card help!

moneytips84

Hi,

I'm wanting to transfer my overdraft to a 0% money transfer credit card to avoid paying any more interest. Unfortunately I've just been declined for a Virgin credit card. The reason they gave is that, according to my credit check, I'm close to my overdraft limit (which at the present time is not true because I just got paid last week) and that I'm close to the limit of one of my credit cards (again not true at the present time as I've just transferred this balance to another 0% credit card and am well within the limit). I guess I applied at the wrong time because this information has not yet been updated on my credit file...it's frustrating because I've been advised not to apply again for another 6 months!

The problem is that the Virgin credit card I applied for is an MBNA card and the only other cards I know of at the moment that offer 0% money transfers are also MBNA cards (MBNA and AA) - does this mean I have to wait 6 months to apply to any of these?! Does anyone know of any other credit cards I could apply for?

Thanks

Tixy

Post office did offer money transfers on their credit cards - maybe check if they still do?

Could you slow stooze the debt via spending on a 0% on purchases card? (use a 0% on purchases card to buy your normal day to day spending therefore leaving the money in your bank account and so paying off the overdraft)

Sharon87

I guess it depends what time of the month the credit agencies check the credit file, cause I assume they check it once a month not every day. They may check it just before pay day.

I second the above get a 0% on purchases card and use every day spends on that, maybe even get a cashback card or tesco/nectar one with 0% deal, so you also earn cash or loyalty points. I know Tesco had a recent offer for 0% on purchases.