Balance transfer declined with good credit score?

Sprint_48

Hi folks

I’ve just joined the forum as I wondered if someone could shed some light on a situation I have.

So, yesterday I tried to transfer the balance on my Barclaycard to a Santander card (new application) after reading on here it was a good long term 0% deal. I’m currently paying 13.7% on the Barclaycard, so want to ditch it for a 0% card. The application was declined. I checked my credit score through the Credit Club part of this site and got 949 out of 999, though my chance indicator of getting another card or loan was low. I have 2 active credit cards (paying off, not spending), no loans, but have credit !!!!!d over the past few years. Could it be the other cards I’ve had in the past, though paid off and unused, are still affecting me? Should I ring them and close the accounts? Or is it something else?

Any help appreciated
Cheers
S.

BoGoF

Ignore the score. What's the limits on your existing cards and how much do you have on them. What is your salary?

Have you checked the actual data on your credit club file - all up to date?

Sprint_48

Hi, sorry about leaving the post unattended, sometimes life gets in the way.

So, currently I have 2 credit cards:
1. Barclaycard with about £6000 on at 14%.
2. Virgin card with about £3500 on, about to be 17% as the long 0% period is about to end.

I tried to transfer the Virgin balance to the Barclaycard (not ideal, but lesser of 2 evils, and was recently declined a transfer to a 0% card), yet was told I don’t have that facility on my account. Have tried to consolidate both into a lower percentage loan, but was declined. My credit rating is good, but I can’t seem to get a break in sorting my finances. Hate wasting money on interest yet seem to be trapped.

Any suggestions appreciated.
Cheers
S.

[Deleted User]

Your credit rating is unknown, as it is specific to each lender and product. Don't confuse the CRA random numbers with a credit rating.

What actually appears in you credit files? And what is your Income?

[Deleted User]

ATM you have outstanding debt of 9.5k on 2 CC's plus any other debt? it maybe that you debt is 50% of your income and thats why you are being declined? After all if you take out a loan to consolidate (never a good idea) whats to say that you will do that and not go on a world cruise?

Sprint_48

Thanks for the replies.
It!!!8217;s hard to put a figure on my salary as I!!!8217;m paid hourly and the weekly totals vary. But ballpark figure is somewhere between 20-30k.

I have outstanding student debt, but I just defer that every year. Not sure if a lender would include that in their calculations?

Just need an option at the moment to try and hammer the debt a bit this year, without wasting money on interest.