Balance Transfer

BoyZero

I'm currently trying to get my finances straight. I've got a couple of credit cards, a scorecard, a catalogue and a big overdraft! Everything added up comes to just over £7,000. The overdraft is almost £3,000 of that total amount. Ideally I'd like to do a 0% balance transfer but I don't tend to get credit very easily. I've not checked with the reference agencies in about 12 months and when I did, I had a 99% positive rating, but still declined credit, Experian said this may be due to the fact that the credit I have is always close to the maximum credit limit. I've been looking at the current MBNA offer for 31 months 0% including overdrafts, I've checked my eligibility on the site and it comes up as a 40% chance I would be accepted, is it worth me trying to apply given the likelihood I'll be turned down, is it worth trying even though it will leave a footprint on my credit? I'm basically looking for a way to consolidate all the debts together so I have one monthly payment, can improve my credit while I'm doing so and most importantly get out of the overdraft where I'm paying between £60-£80 a month:(

[Deleted User]

If you're maxed on that sort of balance, your chances are slim. Your income will be the other factor (which Experian don't know, which is why they're given you a meaningless score).

BoyZero

Thank you that's really helpful, hadn't even considered that the reference agency didn't take into account what you earn! I've been in full time teaching for 8 years and my job's secure so always thought I would be ok, how wrong I was! Thanks for your advice.