Will improved credit score get me 0% card?

Frizzylogic

Hi, I have roughly £3,500 owed (total) over three existing credit cards plus a store card and I'd like to avail of a 0% balance transfer offer to pay these off.

I applied for the Tesco 0% card last month and was rejected, so I took a look at my credit score with Experian. It was at 694, which I've since managed to bump up to 806 by simply updating some address details (I think it was the fact I'm now reflected on the electoral roll which accounts for the large jump).

I've also settled my largest hire purchase agreement with money from my savings (I read somewhere that paying down total debt could help score) - this settled account should start showing on my report after 4th June according to the girl on the phone. So I'm hoping there should be another jump in score at that point.

I have no late payments, no CCJs, using just over 40% of available credit - if I reapply for another 0% balance transfer with my improved score, will it help with my success? What are these companies looking to see when you apply?

I don't want to apply for another card until I'm sure I have done whatever I can to ensure success - I know that searches will lower my score.

Any advice much appreciated.

bigadaj

The experian score is pretty useless to be honest, get the reports and make sure there are lots of green ticks and no missed payments and things will look good.

How much do you earn, is £3500 your total debt.

If I were you I'd concentrate on oaying the debts off, highest rate interest first. Also clearing one card could be a good idea as they may offer you a good deal to transfer the debt from the other cards.

thebritishbloke

Your credit "score" is just a made up number, pay no attention to it. A friend of mine looked at his report yesterday and they gave him a score of over 900, he only has a phone contract. He tried to get a credit card, everywhere rejected him.

Tesco tend to be pretty tight when it comes to their cards. You'd be better off giving the MSE Eligibility Checker a go. I've found that most people get accepted for the BarclayCard 0% deals. You may not get a credit limit high enough to transfer over all your debt, so if you do get a 0% card, move over your highest interest debt first.