Why can't i get a balance transfer deal?

Bala99

Seeing that you can now get an idea of which cards will give you a balance transfer deal I entered all my details.

I am a homeowner (on the electoral role)

I have I know a 999 credit rating (Recently took out car insurance with a new company and got an extra £50 off because of my credit rating)

I have a good income

Apparently the only card I can get a balance transfer deal on is an Aqua card that says it is for people who want to repair their credit rating.

Any ideas on why I could have been rejected by every other credit card company.

cjv

Did you try more than one comparison/eligibility checker website? It is worth trying a few as not all cards are on all sites.

Be sure you enter all your details correctly too as that can affect your results if you make any mistakes.

PeacefulWaters

Any ideas on why I could have been rejected by every other credit card company.

How many actual applications have you made?

a 999 credit rating

As you seem to be finding out, magic numbers are a bit made up.

bengal-stripe

The fact that you want/need a balance transfer deal does indicate that you have a balance i.e. a debt on one or more of your credit cards. You seem to be desperate for a balance transfer.

For all we know, you might have a wallet full of maxed-out cards, which, of course, does not make you very attractive to a new lender.

[Deleted User]

Bala99 wrote: »

I have I know a 999 credit rating (Recently took out car insurance with a new company and got an extra £50 off because of my credit rating)
.

Eh? Who told you that?

No one sees these mythical numbers apart from your and the CRA's.....

Besides that, car insurance has nothing to do with your credit worthiness, so not sure how anyone came to that conclusion.

Anywho, have you checked your other credit files (Equifax and Call Credit) ?

Samsung_Note2

!!! wrote: »

Eh? Who told you that?

No one sees these mythical numbers apart from your and the CRA's.....

Besides that, car insurance has nothing to do with your credit worthiness, so not sure how anyone came to that conclusion.

Anywho, have you checked your other credit files (Equifax and Call Credit) ?

My insurance broker runs a credit check and they state that helps determine the best price, and that's paying in full. Not for credit purposes.

mr_munchem

Samsung_Note2 wrote: »

My insurance broker runs a credit check and they state that helps determine the best price, and that's paying in full. Not for credit purposes.

Would love to meet this broker that negotiates £50 for paying in full when I've got a good credit history?:rotfl:

[Deleted User]

I don't get how your credit worthiness dictates what you pay for your vehicle insurance - it makes no sense and doesn't add up.

They would run a search to maybe confirm identity and check your worthiness for paying in monthly instalments as opposed to up-front - that's understandable.

Bala99

I always pay in full for insurances but always have a credit check done on my file as usually once you have filled out all your details they give you an offer of paying in full or monthly instalments.

I was getting an over the phone quote as I had just leased a new car and wanted to put my 17 year old on the insurance.
I was quoted an amount then the guy inputted something else and then quoted me £50 less because he had seen my credit rating.

Yes I have a couple of credit cards but neither is maxed out I just wanted to put the balance on one of them on a interest free card as I thought that made more sense than paying interest on the balance whilst I get round to pay it off.

I had a very expensive few months. Not spending on anything luxurious like a holiday or going out. It was more like car tyres, a couple of mattresses etc.

Didn't think my opening post sounded desperate.

Also I didn't know there were several comparison sites just did the MSE one.

[Deleted User]

No one sees your credit rating or score apart from you and the CRA'S.

It's fictional and made up and means nothing more than a marketing gimmick.

As seen here are you're unable to get a new credit deal other than a card meant for people with a poor history

Bala99

But I don't have a poor credit history. Or at least I can't think of any reason why it would say I have a poor credit history.

I have never missed a payment for anything in the last 6 years. I have 2 credit cards that I pay off each month or so,
I have a mortgage that is paid each month, never missed a payment, Never missed a payment for Gas, Electrics, Council Tax or Water Rates or anything else that is shown on my credit file.

The only thing I could possibly think it could be is my age, late 50s.


I was getting the credit score from Equifax, I think it is that one. It shows up when you go into your credit file.