Debenhams credit card

Bazy

Hi, was hoping someone might have some info on the Debenhams credit card as I'm not having much luck online, apart from the Debenhams personal finance page itself.

Basically, I have stumbled across the card from another online eligibility tool while looking for a 0% balance transfer card and was provided with a 60% chance of acceptance. This then lead to me going direct to the eligibility checker on the Debenhams website - I completed this and got a 'likely to be accepted outcome ' however on a higher rate of interest than advertised. My credit score is in the 'poor' bracket but my account conduct on my other credit card accounts over the past 24 months has been ok (never missed a repayment and all greens however went over limit once or twice which was rectified straight away). I also think use of a payday loan company in the past 12 months hasn't helped me either. I'm just wondering if anyone has applied for this card and been accepted or if anyone currently uses it? If so, is the balance transfer a facility which comes with the card if the application is accepted?

I don't want to run the risk of applying and possibly getting accepted (and moreso beimg declined) but not being provided the 12 month 0% interest balance transfer period, as my main aim here is to start cutting my balances and avoid interest.

(Baring in mind I have done the eligibility checks for other providers on here and on other sites and have had very low percentages of acceptance)

Part of me feels confident that if I did apply I may be accepted as I am.aware the card is supplied by Newday who seem to target poorer credit scorers , but again it's a risk im not sure I want to take

Any help would be appreciated :beer:

[Deleted User]

NewDay issue the card, but the Debs card isn't sub prime. You'll need a fairly decent history to get it.

It's also not the best choice for a BT offer. It's more loyalty spend based.

What else comes up on the eligibility checkers?

Bazy

The BT cards with the greatest percentage are aqua (90%) and marbles which is around the same. The only other ones which give any slight indication are of a fair chance of acceptance are the HSBC 32 month card and the Tesco Bt card (can't mind the exact offer period) - both with a 60% outcome however I applied for the HSBC one in March this year and was declined so I don't hold much hope for either of these.

(Thanks for the quick response btw)

[Deleted User]

Are aqua and marbles currently offering BTs? They tend to be very short terms - 3 to 6 months typically.

I would apply for one of the others - HSBC or Tesco. Both are fairly prime, and you're unlikely to get it with a patchy history, but it's only one search, so no harm to your credit file.

Failing that, look at the DFW boards for advice on how to get your existing debt down without a BT. Hopefully you're paying as much as you can towards the balance and not just minimum payments.

What rate is the debt currently on - and how much?

Bazy

Yes they are, but on very short terms as you have said, aqua 6 month and marbles 5 months. There's also the very good chance the limit given would be low as I believe they tend to be on these cards when starting off. This definitely wouldn't suit as I have a barclaycard initial with a credit limit of 1200 and 2 Capital One cards - one with a limit of 700 and the other 200. Balance on Barclaycard is 800 and 650 and 50 on the other two. The interest rate on all cards is 34.9%. I'm trying my best to avoid the minimum payment trap as i have standing orders set up to collect just over the minimum. It's chipping away at the balances rightly but it's going to take some time and paying lots of interest, which is the reason I am trying to obtain a decent BT card.

Sorry I'm not aware of the DFW boards...is there a quick link for these or where can I find them on this site?

[Deleted User]

http://forums.moneysavingexpert.com/forumdisplay.php?f=76

2ilent8cho

I would advise trying Tesco and put the balance transfer on during the application based on my experience. I applied for the 0% balance transfer card (hoping to transfer £3000) when it said 60% chance for me, and i have 4 defaults, they gave me a £4300 limit and 18.9% APR i was very shocked expecting nobody but Aqua or Vanquis to touch me.

Bazy

Can I just ask what your credit card utilisation ratio was like?


At present mine isn't far off the limits, probably at about 75-80% utilisation. I applied for HSBC in the past and they declined me and my circumstances haven't changed much since then. I do think it will be worth giving Tesco card a try tho.