Rejected - What now?

nopottopi**in

Hi can anyone give me some advice please - I have several thousand in debt across a few cards I have had for years and tried to get a new low life-of-balance card to transfer some debts to by applying for the Citicard - I got one but all they will give me is £1000. Which is no use! So I said no to the card. Do I try other companies or will this just ruin my credit report? I don't have a bad credit rating at all and own my house so do you think lenders would be more likely to give me a long term loan?

Any help much appreciated :T

GeorgeUK

It's possible.

The banks look at both your income as well as your existing credit - and also the number of credit checks you've recently had, so you may have shot yourself in the foot by turning down the Citicard offer. The check is already on your file. As long as you space them out they shouldn't affect your credit score. 3 within 6 months is safe.

You may be better going for one of the mbna banks such as virgin. You'll need to be careful about how many you apply for and when. After 6 months, credit checks have very little impact on your credit score.

Mozette

Surely £1000 of low LOB would be better than having the same £1000 on a higher rate? Why say no?