Applying for 0% Credit Card and Credit Score

milly143

Hi! I'm new to this so I am sorry if this has been discussed before.

I currently have a Barclaycard with £800 on it and a Virgin card with almost £5000! Virgin have just upped the interest to 17% and I don't think I am ever going to pay it off at this rate. Following a couple of years of very poor money management, the past 5 or so months I have got everything under control and all payments have been made on time. I got my credit score the other day which says 'fair'. I was thinking of trying to apply for a 0% balance transfer card but have been told that applying for credit can affect your credit score, so I don't want to get turned down and for my score to go down. Could anyone give me advice on if I should try and apply for a card with the score I have?

Thanks in advance!

jay78

Apply for LOTs of credit in a short space of time will affect your score, not the odd application. What will affect your chances of getting a new card is number of late payments, how you have managed your accounts, electoral register, salary, residency etc.