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Credit File question
scott_parker
Posts: 9 Forumite
Hi
As I have mentioned in another post, I have got myself into around 13k of debt.
Around £4,500 of this is split between two credit cards, and around £3,000 of this is still at 0% interest until early 2016.
My credit score is very bad at the minute. I have never missed any payments, but I currently have a Natwest Loan for £7,500, two Credit Cards totalling £4,500, and a Natwest Overdraft of £1,000.
I have also had many more credit cards, loans and payday loans in the past 6 months, which will obviously be affecting my score.
I am just wondering if anyone could tell me how long it may take to improve, as I am worried that once the 0% deals finish, I will be getting charged a lot of interest, and may not be able afford the increased minimum payments.
Is there any chance that my credit score may have improved enough in 6-7 months to be accepted for a 0% balance transfer card?
Thanks.
As I have mentioned in another post, I have got myself into around 13k of debt.
Around £4,500 of this is split between two credit cards, and around £3,000 of this is still at 0% interest until early 2016.
My credit score is very bad at the minute. I have never missed any payments, but I currently have a Natwest Loan for £7,500, two Credit Cards totalling £4,500, and a Natwest Overdraft of £1,000.
I have also had many more credit cards, loans and payday loans in the past 6 months, which will obviously be affecting my score.
I am just wondering if anyone could tell me how long it may take to improve, as I am worried that once the 0% deals finish, I will be getting charged a lot of interest, and may not be able afford the increased minimum payments.
Is there any chance that my credit score may have improved enough in 6-7 months to be accepted for a 0% balance transfer card?
Thanks.
0
Comments
-
You don't have a credit score.
Potential lenders will assess an application based on what's on your credit file. Lenders don't publish their acceptance criteria, so no-one can give you an answer."Facism arrives as your friend. It will restore your honour, make you feel proud, protect your house, give you a job, clean up the neighbourhood, remind you of how great you once were, clear out the venal and the corrupt, remove anything you feel is unlike you... [it] doesn't walk in saying, "our programme means militias, mass imprisonments, transportations, war and persecution."0 -
Hi Scott,
Gaz83 is right, the only way you can really find out is by applying. You might find this MSE article useful so that you can maximise your chances of being accepted for more credit:
www.moneysavingexpert.com/loans/credit-rating-credit-score?&_ga=1.28900284.1431643695.1421326736#boost
James
@natdebtlineWe work as money advisers for National Debtline and have specific permission from MSE to post to try to help those in debt. Read more information on National Debtline in MSE's Debt Problems: What to do and where to get help guide. If you find you're struggling with debt and need further help try our online advice tool My Money Steps0
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