0% Balance Transfers?

Hooded_Claw

Hi There,

I have a Credit Card Debt of £4,600 and MSE's Eligibility Checker tells me I have a 90% chance of getting a new (Balance Transfer) card at the 0% rate.

I'm about to apply for this now because I've just started a new job and finally have the financial 'leverage' to pay my card off (in full hopefully/extremely probably) within the next 20 months or so.

Because, until the end of the month, I'm still working out my notice for my old job, whilst starting my new one at the same time, I don't know my new income exactly yet - and I'm a bit worried not giving an exact amount in the CC application may go against me.
Does anyone think it will? I'm a home owner and have a previously good credit history (to the best of my knowledge). I'm set to earn about £20k a year from my main job, and roughly another £2k from working one day a week in another role.

I'd rather get it sorted now (my new role will be very demanding) but don't want to be refused or even worse, accused of fraud or anything!

Thanks in advance for any help (I hope this post makes sense!)

grumbler

Hooded_Claw wrote: »

...I'm a bit worried not giving an exact amount in the CC application may go against me...
..
I'd rather get it sorted now (my new role will be very demanding) but don't want to be refused or even worse, accused of fraud or anything!

You have to declare income that you are able to prove if asked, not some future estimations.

Doctor_Duke

You need to be consistent with what you declare as income. Credit Reference Agencies can check with National Hunter who can highlight inconsistencies with application data. Something maybe to consider.

Hooded_Claw

Thanks for your answers guys. I know I asked a question with a pretty obvious answer really. I've never done this before, all new territory for me!

chattychappy

I think it is fair to use quote the income you (reasonably) expect to get from the new job - given you've started it already. It is unlikely they will ask you to prove it - and being able to prove it isn't in the T+Cs. If they did ask you to prove it, you can simply say you no longer need the card and leave it like that - unless, of course, you by then have pay slip or something.

Whatever you do, don't make rapid multiple applications with differing statements as to income. As noted, such information put onto applications can be relayed to National Hunter in order to spot application fraud.