advice about my credit card

sharlow

and is tesco bt the best card?

As i have a ccj that was paid off nearly 6 years ago (its still on my credit rating and should go off this year)

and for a low credit rating?

i dont want to applying for things and it lowers my credit rating more by getting turned down

CakeCrusader

sharlow wrote: »

ok great! so i am now looking at the tesco balance transfer credit card website. if i am successful in getting that to transfer the vanquis balance onto the and then pay tesco? (sorry im not very good at understanding money etc) And how it is set up, is it like a bank account so its easy to transfer money to the vanquis account? is it easy to do?

That's OK They didn't let me know right away, they called but were cut off, then sent me a letter asking me to call them. I did, they just wanted to check my details.

When I filled the balance transfer page in, it asked me the card number for the account I wanted to transfer the funds to. They checked this again when I called, and once I'd activated the card they made the transfer so I didn't need to do anything else. I didn't need to do anything other than make sure the numbers were right. It didn't clear the whole balance by the way, but most of it, and the Tesco card is 0% for 2 years, which is a lot better than 69.9%. Even if you clear most of your balance, it will help (just don't use the Vanquis card if you've been offered a Barclaycard as the Barclaycard interest is lower and mine's 0% for 2 months for purchases).

CakeCrusader

https://www.moneysavingexpert.com/eligibility/credit-cards/ Try using this I have 2 CCJ's (they are paid but they won't drop off until next year and the year after), and 1 late payment to 02 (this was a few years ago when I started my job) and nothing else. My credit rating's 'rather' low but I don't think this really matters as the credit card companies don't see it. The tool gave me a 40% chance at being approved for the Tesco card (I got it anyway), 80% at a HSBC balance transfer (I didn't check this until after I'd applied to Tesco).

sharlow

thank you so much for the advice. i have just done that check and it says im not eligible for any bt card ive got 0% chance on every card

CakeCrusader

sharlow wrote: »

thank you so much for the advice. i have just done that check and it says im not eligible for any bt card ive got 0% chance on every card

I'm really sorry. Have you checked your credit file to see what's going on? Student Services can go through your budget with you and offer you advice, or you can also try a credit union. I know things seem hard right now, but you will get through this.

sharlow

CakeCrusader wrote: »

I'm really sorry. Have you checked your credit file to see what's going on? Student Services can go through your budget with you and offer you advice, or you can also try a credit union. I know things seem hard right now, but you will get through this.

yes i regularly check my credit file. the trouble is ive never really had any credit. and when i have had credit ive messed it up when i was younger and its still haunting me. i will keep checking the bt transfer check you showed me in the hope it changes soon

thank you so much for all your help. made things a bit clearer

Candyapple

What is your annual salary?

Are you signed up with Noddle and ClearScore?

What is showing on your credit files? e.g. bank account / mobile phone etc

Any other late payments / defaults / CCJs?

If you're not eligible for any cards then your options are:

1. Keep paying the £100 per month until your situation improves (CCJ drops off / income increases) and then try using the checker again to see if you are eligible.

2. Ask a partner / relative / friend to take out a loan or balance transfer card in their name to clear your debt and then set up a standing order for the £100 per month that you would normally have been paying Vanquis, to them instead.