Should I make the 0% jump?...

Zebedee69

Hia Guys & Gals,

Right, basically I moved back to the UK from Ireland about 2 years ago. Since then iv done all the right things. Got onto Electoral register, checked my reports and they are fine, gotten a Burtons card paid off every month and eventually getting a Capital One Classic (and bloody expensive) creidt card. I also have a £2000 overdraft with Lloyds TSB, im in full time employment.

My record at the moment shows 5 searches and 4 open accounts. One for Lloyds TSB, one for Capital One one for Burtons and one for a 3 Mobile Phone, the last search was in June. The longest account has been open for 2 years and iv made 12 months of payments (12 green P's), no shortfalls or missed payments. Shortest account open for 5 months again with no shortfalls or missed payments (5 green P's).

Im saving up to do my C + D license soon and I bought a car using OD which I would like to put onto a 0% card to get paid off (not too much money its about £1000) and I think il pay it off my Febuary next year.

Right then, sorry for waffling! Do you think I have a strong enough rating to go for a 0% deal for say 6 months? Im not 100% sure and I dont want to put another search before iv just tested the waters with you guys:D

THX!

Zeb

GeorgeUK

It may depend on your salary, but if you are unsure about your rating and especially with the banks cutting their lending, something like a post office CC may be the best thing. Currently offering 0% for 10 months then again for 5 months on the 1st + 2nd anniversary - may be handy for a poor student
http://www.postoffice.co.uk/portal/po/content1?catId=34100665&mediaId=34300674
(If anyone knows of lenders that are still not restricting credit, please shout out)

I would suggest at most no more than 2 credit checks in a 3 month period, but even this may be pushing it. If you have 3 in the last 6 months, i'd hold off for a while.

Bokkens

You can't hold off for a while on the credit checks as you want to move the O/D unless you have a £1000 sitting around your only option is to apply for a 0% card or continue to pay the interest charges on your O/D.
I think you will be alright with the application although the credit crunch is forcing the card companies to reject upto 50% of applicants .
good luck.

Zebedee69

I applyed for the PO card. They are going to write to me with a decision. I think I might have got it because thats what Capital One said and they accepted me so...

GeorgeUK

Crikey - you move fast don't you.

Good luck with the application.

Zebedee69

Lol! No ones ever said im fast at anything before ha ha!