Credit card headache

imsostupid76

Hi all.
My husband and i have 2 credit cards at the moment. One we are paying low payments to as its still in the no interest bit for another few months. The other is up to its limit and am paying over £100 in interest alone each month.
We are trying to apply to another card so we can transfer the balance but keep getting rejected. Now we dont know what to do as this card is crippling us each month but how can we start to clear this when no one will accept us? Its so frustrating!!

Paully232000

You have been given some good advice on the debt-free wanabee board, what more do you need people to say on here. I would think that that is the best board for good advice given your level of debt.

kloana

imsostupid76 wrote: »

Hi all.
My husband and i have 2 credit cards at the moment. One we are paying low payments to as its still in the no interest bit for another few months. The other is up to its limit and am paying over £100 in interest alone each month.
We are trying to apply to another card so we can transfer the balance but keep getting rejected. Now we dont know what to do as this card is crippling us each month but how can we start to clear this when no one will accept us? Its so frustrating!!

You state on your other thread on the DFW board that all your payments are up to date. Therefore the assumption is that your credit is OK in itself, but you're obviously over-committed. That would be the reason why you're getting rejected, and if you've had a few rejections already, there really is little point applying for more. The best credit card deals are reserved for A1 customers.

Who is your existing 0% deal with? As there's a possibility that once this 0% ends, you can close that card but re-apply later as a 'new' customer (assuming the same lender has the same deals, etc.). This won't happen overnight (there are different 'new customer' waiting periods for different providers), but your best chances of securing a further 0% deal are with the company/companies who you've held satisfactory accounts with in the past.

However, none of this properly addresses the wider debt problem you have. You seem to be interested in DMPs particularly, but this isn't a step you should take lightly. Have you sought formal advice? https://www.stepchange.org may be able to help.