Which CC to pay off Overdraft Please? Please Help!

AngelEyes81

Well just did the Virgin CC application above and it was instantly turned down.

Any advice on if should apply for another one and which one is likely to be accepted?

Looking to see if the amount can be loaned personally, but still looking at the card route if that's possible after being turned down for one?

Has anyone been in similar and probably not got the absolutely best credit rating, though it should be much better than years ago and been accepted for a money transfer CC?

sourcrates

AngelEyes81 wrote: »

This is the only way out that we see. What is wrong with using a 0% CC to pay off the overdraft and the two months missed rent and then being right with the bank and then easily being able to pay off the CC payments?

The reason being only a certain percentage of people with a sqeaky clean credit file will be able to get such a deal, you have been turned down once, that should tell you something.

AngelEyes81

I was merely just asking that's all.

People get turned down for things everyday and then find others that will accept them, I don't know about these things, which is why I asked here.

lambda

Hey,

I think what would really help would be for you to post an SOA. It's really hard for people to give advice on whether or not a CC is good for you if we don't see the whole picture.

Personally I am against solving debt with debt. It very rarely works. But without an SOA it's impossible to judge that in your situation.

nkkingston

To be honest, from what you've said and the fact you've been turned down, I'm doubtful if you'll get a 0% deal, especially not if you keep trying and damage your credit rating even further. The banks aren't looking at it as a way of paying off your other debt, they see it as you taking out additional debt on top of what you've already got.

You need to make sure that you've got enough money to cover your priorities (rent, bills, council tax, food etc, and rent arrears, because you could be made homeless over that) first. After that, close the bank account with the overdraft and open a basic account (no credit check involved). The overdraft then becomes non-priority debt, and you can pay it off at a rate that doesn't put you at risk.

Former_E.ON_Company_Representative:_Malc

AngelEyes81 wrote: »

Just had a letter from EON today as well that that bill has gone up from £88 to £113 from next month as well.

Hello AngelEyes81. Just a quick heads up.

I'm guessing you're talking about an increase in a Monthly Direct Debit? Sorry if you're not. Make sure the account is billed up to the latest meter readings. If not, we might have over or under estimated how much is being used. Should this be the case, let us have up to date meter readings. We'll be happy to re-bill the account and review the monthly payments.

Also, if you've registered with our website, did you know you can take more control of the arrangement, including changing the amount, through an online tool called the 'Direct Debit Manager?' Comes in handy should circumstances change. Provided the account is billed up to the latest meter readings, payments can be changed by up to 20 per cent up or down. By up to 5 per cent up or down without readings. Before confirming the new amount, we'll let you know by how much we anticipate the account will be in credit/debit by the time of the annual review if payments are changed but usage doesn't alter as expected.

Hope this is of interest AngelEyes81.

Malc