Went over my limit on 0% card

goneoverlimit

Hello everyone,

Around a year ago I got a Sainsbury's credit card that had 0% on balance transfers and I transferred some debt from another card.
I wasn't watching my account closely enough and I went over the limit, losing my 0% interest rate. I thought I would just open a new 0% card but I have been declined, I used to have a good credit rating but I guess since I went over the limit I have lost it. It was a Halifax card I applied for.
What can I do?
Obviously I am paying as much as I can each month.

Candyapple

How do you go over your limit on a new 0% balance transfer card? They limit you to only doing balance transfers usually 95% of your credit limit.

Once you realised you had gone over your limit, did you even call Sainsbury's and ask if you could bring the balance back down so it was under limit again if they could reinstate your 0% offer?

1. Please list all credit card limits along with outstanding balances.

2. Do you have any other loans / overdraft / car finance etc?

3. Do you have any late payments / defaults / CCJs?

4. What is your annual salary?

5. Are you on the electoral roll (does it show on all 3 files?)

6. Have you made any credit applications in the last 12 months?

goneoverlimit

I had a 2000 limit and I transferred over 1500 and I also made some purchases on there. I linked it to my PayPal for a purchase and then forgot to remove it so I accidently used it for other things when I meant to use my bank account. I didn't call Sainsbury's because when I first got the card there was an error with my direct debit and they didn't take the first months payment causing me to loose the 0% but I phoned up and they sorted it all out but told me they would only do it once.

1. Tesco ~ 4k on 0% ( I am not worried about this, my partner also pays it off with me and we are on track)
Sainsbury's 1,900
2. No
3. No
4. 12,000
5. Yes, which 3 files?
6. Yes last week for a Halifax balance transfer card

goneoverlimit

It's not possible for my partner to transfer the debt onto her card is it? She is happy to do that but I don't see a way.

Candyapple

goneoverlimit wrote: »

It's not possible for my partner to transfer the debt onto her card is it? She is happy to do that but I don't see a way.

Yes your partner can do this, all she has to do is apply for a BT card in her name and then enter your card details for the BT. Note, not all providers allow this so check the T&Cs.

Have you tried applying for another card? One more search shouldn't make much difference. Try the eligibility checker first:

https://creditcards.moneysavingexpert.com/?balance-transfer&_ga=2.245319045.1802764780.1502359083-1738994972.1502359083

PeacefulWaters

Have you tried politely asking Sainsbury to reiterate your 0% deal?

cjmillsnun

goneoverlimit wrote: »

I had a 2000 limit and I transferred over 1500 and I also made some purchases on there. I linked it to my PayPal for a purchase and then forgot to remove it so I accidently used it for other things when I meant to use my bank account. I didn't call Sainsbury's because when I first got the card there was an error with my direct debit and they didn't take the first months payment causing me to loose the 0% but I phoned up and they sorted it all out but told me they would only do it once.

1. Tesco ~ 4k on 0% ( I am not worried about this, my partner also pays it off with me and we are on track)
Sainsbury's 1,900
2. No
3. No
4. 12,000
5. Yes, which 3 files?
6. Yes last week for a Halifax balance transfer card

So your debts are 1/2 your annual salary. Whilst not huge debts, you are on a low salary and Halifax are sensibly looking at making sure you don't have more than you can live with.

Remember you have got to meet your living expenses and make payments towards your debts. If your partner can get a card to cover this, all well and good, but then put your cards safely away and concentrate on paying down the debt.

I say that as someone who has been there. I was in debt up to my eyeballs, was within a hares breadth of going bankrupt. I've paid my debts down, and now have just £300 on a card.

Admittedly I am going to take on a mahoosive debt in the form of my mortgage, but that is different. It's cheaper per month than the rent I'm paying now.