Not eligible for any balance transfer cards?

Martin92

Hi everyone, 
I have done the eligibility checker for balance transfer cards on this website & it says i'm not eligible for any of them?
I don't understand as my credit score is 830 - good.
Anyone help please?

DCFC79

Martin92 said:

Hi everyone, 
I have done the eligibility checker for balance transfer cards on this website & it says i'm not eligible for any of them?
I don't understand as my credit score is 830 - good.
Anyone help please?

Means nothing, what matters more is whats on your credit history.

rjaps

Same for me and I have a good score and history. Need a 0% balance transfer CC asap! 

[Deleted User]

You both need to check your files to see what is there, whether anything needs fixing and whether it's worth applying elsewhere.

If not, you need to clear the debts the old fashioned way.

As a rule, if you desperately need a BT, you're generally too high risk to get one, as you'll fail on affordability.

Martin92

Hey Zx81, 
But does the pre-eligbility on 'Money Saving Experts Eligibility calculator' even look at your score due to it being very brief on the questions it asks you.
Thanks in advance for your help by the way appreciate it.

cymruchris

Martin92 said:

Hey Zx81, 
But does the pre-eligbility on 'Money Saving Experts Eligibility calculator' even look at your score due to it being very brief on the questions it asks you.
Thanks in advance for your help by the way appreciate it.

Nobody sees your score aside from you. It's just a general guide to your creditworthiness as decided by the credit reference agencies - but note - it's general - it can be wildly inaccurate for some. Lenders are more interested on how many accounts you have, what balances you've had compared to credit limits, the resulting credit utilisation ratios, whether you've paid on time, whether you've paid off your balance in full every month and stuff like that - they aren't interested in your made up score. If from the soft searches you aren't coming back with eligibility for a balance transfer card, it may be that one of the areas I mentioned above has highlighted that you're a high risk, and so won't be eligible. Do you have high balances that have been running for a very long time? Or payment issues in the past?

born_again

rjaps said:

Same for me and I have a good score and history. Need a 0% balance transfer CC asap! 

Which could very well be the reason you are not getting one.

At the moment banks are not wanting to take on more debt than they need. 

If you think about it, at the moment would you want to take on a debt and not receive any interest on it?