Credit report query

Houndog6105

Hello:j
I'm trying to get some help as I seem to be having a problem getting any chances of a balance transfer card and I'm baffled as to why

I have £3500 outstanding on a very high interest credit card so I did an eligibility check on me and all are coming up as zero chance . Even the 6 month ones

My credit report has 12 credit agreements on it (all never missed a payment) I'm on the electoral role for one and half years now. Employed for 5 years. I have one default on my report and it's over 5 years old. Where am I going wrong? Why can't I get any chance of getting a balance transfer card?

Any help would be really appreciated
Thanks
Steve

Willing2Learn

Hi, have you tried an application with the sub-prime CapitalOne balance transfer card? They are more likely to consider your application positively.
https://www.capitalone.co.uk/creditcards/0-balance-transfer-credit-card-12-months.jsf

Edit: Check your file with the three CRAs to ensure there is no negative history hidden within.

Houndog6105

I have a credit card with capital one it's a very small limit of £450 but it's paid off in full. I asked for a limit increase yesterday online and they turned me down.
I do have a 24k car finance loan outstanding on my credit report . This has since been settled but it's not yet updated on my credit report.

I'm currently using Equifax as a paid member

Who are the other two I should check please and does it mean me having to pay for them?

Thanks

Willing2Learn

The credit files for the three CRAs are all available for free.

Clearscore = Equifax
MSE Credit Club = Experian
Noddle = TransUnion

How many applications have you recently made?
How much credit do you already have (total credit limits)?
How much of that credit have you currently used?
What is your salary?

[Deleted User]

What’s your annual salary?

Houndog6105

I'm with all three of them credit clubs
My salary is 22k a year
I have 10-11k credit
Three cards

Barclaycard balance transfer card 28months £5600 limit used £4100

Aqua £3900 used £3300 (need this transferred)

Capital one card £450 limit used 0

I have three hard searches currently on my report

Houndog6105

I paid £400 onto my aqua this month and £100 was taken off it from interest alone. It's an absolute killer

Willing2Learn

You are utilising a lot of your available credit.

Are you managing to keep up with minimum payments or is it a continual struggle?


Why not pop over the DFW board and post up your SOA? You may get some useful ideas and tips to reduce outgoings and increase incoming.

[Deleted User]

So you earn £22k per annum.

You have a £24k car loan.

£9950 in credit card limits.

Totalling £33,950 of credit.

That’s £11k over your annual salary.

I think affordability and the fact that you’re using over 90% of your credit on two of your credit card is having a major impact on you getting more credit elsewhere.

Houndog6105

I got rid of the car because of that reason so was therefore hoping it would have a positive effect on my report giving me some opportunities to get a balance transfer card for this £3500 outstanding on the aqua card

My report hasn't updated yet to say the 24k has been settled

I've never missed any payments on anything since opening all credit accounts

I'm paying £100 a month on the Barclaycard and obviously I'm not using the card at the same time

The car I got the finance settled

It's just this aqua one were I'm getting hit hard by the interest

Houndog6105

Does partners salary not come into play with these things?
They ask for my partner salary when you do the eligibility check you see
That takes our overall income to 44k a year