Credit application impact

ali4758

Hi, I recently applied for a HSBC credit card with 0% interest on balance transfers for 32 months after seeing it on TV by Martin only to be told I couldn't as I am a HSBC gold card holder. I was advised that they are offering debt consolidation loans at 3.3%. After going through the process we were told that the interest would be 16% over 60 months which would entail £4500 extra in interest charges. The only time they mentioned varying interest changes was after they said we would have to take my wife's pay slips to our local branch for them to copy. We assumed stupidly that they meant currency market fluctuations as the visit would delay the loan. When they gave the final figures we declined to proceed as it was only 2% less than our card and we can pay extra monthly payments.
What I wanted to ask was whether it will be a negative mark on my file, how long should I wait before applying for anything elsewhere, and finally, do the banks accept £13K balance transfers?
Thanks

[Deleted User]

It will appear as a search. In itself, it's not significant.

Your credit limit will depend on your circumstances. Given the interest rates you're being offered, a high limit seems unlikely.

However, take any BT offer you're given.

Thrugelmir

ali4758 wrote: »

, do the banks accept £13K balance transfers?

Not a personal loan account. If that's the purpose of the transfer. To another credit card, yes.

ali4758

thanks, i will go with my credit union as its only around 6-7%

foxy-stoat

Do cancel the credit cards as you could rake up £13K+ and be in double the doo-doo.