Balance transfer cards

ForeverAwake

My balance transfer offers on my Halifax and Barclaycard Cards will end on Jan 1 and I’m trying to get my finances in order to save on interest.

This morning I applied for the Lloyds 15 month 0% and was given a limit of £3,700. I had an email to say my card is on it’s way.

However, the credit limit wasn’t high enough for the Barclaycard transfer too also so I applied for a 2nd Card with Tesco (I have their foundation card) but at the end of the application they said they “may” be able to offer me a card and my limit will be £2,800 if accepted.

Barclaycard balance is £1,559 and if not balance transferred by 01/01 my ARP will be 27%.

Should I apply for 3rd BT card somewhere else or wait to here back? Or is it too much to put in more applications?

Thanks

Retired_Mortgage_Adviser

In your place I would wait to hear back from Tesco before making any more applications (more hard credit searches). Beware the dreaded rejection spiral!

The Lloyds card should be with you soon, at least you can get the Barclaycard balance and some of the Halifax balance transferred before they start incurring interest.

In any case, once you have 2 back to back cc applications in a short period of time, it may take a while to get another succesful application through.

ForeverAwake

Tesco have requested proof of income, which is weird cause I have my current account with them so they could easily see my income details?

[Deleted User]

Not really. Different banking divisions are often not as joined up as they should be.

[Deleted User]

ForeverAwake wrote: »

Tesco have requested proof of income, which is weird cause I have my current account with them so they could easily see my income details?

If they’ve requested your income then show them.

They won’t have access to your bank account to check it and probably want confirmation either way.

phillw

ForeverAwake wrote: »

Tesco have requested proof of income, which is weird cause I have my current account with them so they could easily see my income details?

There is a whole world of difference between them seeing that you have received money from someone and that this is from employment.

Your employer could be reimbursing you for expenses for example.

ForeverAwake

I sent in my last 3 months bank statements and pay slips and had a call from a Tesco to say they’re received the documents and my card is now on it’s way,