a little help

Charliewink1994

when i was 18 i went a little silly and told myself i was building my credit score i took a couple of credit cards and opened about 4 current accounts i have decided that I am closing two current accounts but i dont have the money for the credit cards i was hoping for a balance transfer card but although my credit rating is brilliant to check my file i get declined for every single one i apply for can i ask my bank for help will they help me?? after i close 2 of my 4 current accounts how long will this look more positive or as if it is a bad thing would they refelt on there for 6 years. I know this may not make a lot of sense i have a lot of questions that come out a bit strange in tpying.

grumbler

Charliewink1994 wrote: »

...I know this may not make a lot of sense

Indeed.
147 words
just 2 full stops
only 2 capital letters -"I"

i have a lot of questions that come out a bit strange in tpying.

So do I.

How long ago were you 18?
How do you know that your credit rating is 'brilliant'?
Why do you want to close current accounts and why do you think this can make any difference?
What are the CC balances?
What is your income?
...
...

Charliewink1994

grumbler wrote: »

Indeed.
147 words
just 2 full stops
only 2 capital letters -"I"
So do I.

How long ago were you 18?
How do you know that your credit rating is 'brilliant'?
Why do you want to close current accounts and why do you think this can make any difference?
What are the CC balances?
What is your income?
...
...

2 years 20 years old now
well better than average uk citzen
i dont use them and i think hat having ao many accounts open could damage it
1500 650 650 450 is the full i stay 100 below the 1500 and about 30 below the rest
income around 9000 a year

stator

Get a full copy of all your credit reports, Experian, Equifax, Call credit.

If you have applied for lots of credit cards there will be lots of searches registered on them. This will count against you when you apply for credit, they will think you are desperate and irresponsible.

Make sure you make all your minimum repayments and start paying them off, highest interest rate first.

Depending on how good your situation is you may qualify for a balance transfer card but we can't say whether you will or whether you won't.

grumbler

Charliewink1994 wrote: »

i dont use them and i think hat having ao many accounts open could damage it

You are mistaken unless they have really big overdraft limits.

1500 650 650 450 is the full i stay 100 below the 1500 and about 30 below the rest

Are two out of four expensive overdrafts?
All almost maxed out = big used/available ratio = not good, regardless what CRAs say (if it were them who told you "excellent"or "well better than average uk citzen", that, in fact isn't the same). In this situation, the overdraft limits, if available, work even in your favour.

So, did you open the accounts and got the cards to 'build' your credit history, but instead maxed them out and struggle to pay off? If so, until it's too late, do you best to pay back as much as possible instead of thinking about transferring the balances.

thebritishbloke

Charliewink1994 wrote: »

well better than average uk citzen

If you're going by what Experian/Equifax etc are telling you, then you're probably wrong, as that number means diddly squat. You're clearly not better than the average person if you can't get accepted for BT deals, so get that idea out of your head. It all varies based on your income, current debt, repayment history, limit-to-debt ratio etc.

i dont use them and i think hat having ao many accounts open could damage it

I have 7 current accounts and plan to open more. Only one has an agreed overdraft limit on it, so when I apply for credit they'll pretty much ignore all but one.

As Grumbler has said, your debt-to-limit ratio is appalling, which is why you won't be able to get accepted for any new BT deals. Just start scrimping and paying off as much as you can on the cards. Always pay off the highest interest cards first. Don't bother trying to apply for any new cards, you more than likely won't be accepted for them if you've already been rejected a few times.