Credit Rating Question

funky1471

Hi guys,

The equifax credit rating says mine is a score of 432 which means good. It also says creditors like to see atleast 12 months, but 38 months of history or more is best. I have 2 years and 11 months, so is it waiting one more month before applying for a credit card to do a 0% balance transfer, or will it make no difference if I wait a month?

Thanks,
Dan

lisyloo

It also says creditors like to see atleast 12 months, but 38 months of history or more is best.

It is difficult to say because it depends on the rules that your particular lender applies.
The rules that each lender uses ae not published (because unscrupulous people would try to find ways round them) so it's impossible to know whether your particular creditor uses this rule or not.

funky1471

Okay thanks

I will have to think about it. The creditor would be Virgin. Does anybody know if a "good" credit score is enough, or do they only look at people with an "excellent" type of rating?

funky1471

Can anybody else offer any insight into either:

- The question about having 36 months vs 2 years 11 months

- How stringent Virgin are when it comes to their card with 0% balance transfer? I just want to get it onto a 0% card and pay it off asap.