Availability of 0% Purchase Credit Cards

elaine2710

Hi, I’m looking for some advice, my husband and I alway have a 0% purchase credit card. When the 0% rate ends we close the card and open a new one. We never need to do balance transfer as we always clear our credit card. We just use it for big purchase to give us a few months to pay off (ie holidays/furniture etc). I am the one applying for the card, I have an excellent credit rating, our combined income is 6 figures, and our current cards have £8000-£10000 limits. 

However, at the moment when I do the eligibility calculator for a new card I am eligible for none of them. The only 1 that would accept me is the new Sainsbury credit card deal, but I haven’t had a nectar card for 6 months so I can’t apply.
i am so confused as to why I can’t get credit at 0% given my personal circumstance explained about. I am in my late 30s, I have credit cards since I was a student but I have never had a problem. 

Is the problem me or is it something to do with Covid? Are credit companies no longer doing 0% readily to stop people taking on debt they can’t afford? I would be so grateful for a response. Thank you. 

D3xt3r5L4b

All lenders are tightening up on their lending criteria 

[Deleted User]

You need to check your credit files for the full picture. See what appears on each (not the scores or ratings).

But you may carrying too much debt, have too low an income, have access to too much credit or simply have had too many cards to interest lenders for a second time.

cymruchris

If you have a substantial balance that you are continually carrying on credit cards - that might be one of the reasons. You do mention using it for big purchases then paying it down, but if there is a large balance lurking over a long period of time, that might be one of the reasons. It appears there's a general tightening of availability at the moment - so if there is a balance that needs addressing, it might be worth trying to put in a bit of an extra effort to reduce it.