Credit Card - Isle of Man resident

RobTiom

Hello,

I'm a resident on the Isle of Man looking to obtain a 0% balance transfer credit card to consolidate 2 other cards - trying to pay as little interest as possible with the flexibility of changing monthly payments when funds allow

I've currently got a Virgin card and MBNA - I got both of these before the pandemic through an online search (money supermarket or something I think). 

Now when i do an online search, my eligibility is 0% on every card. My credit score is 'excellent' (999). I went into my local branch of HSBC yesterday and was approved for a card, but the credit limit was way too low for it to be worthwhile having another card

My question is - has anyone else experienced problems from being a resident of IOM, N. Ireland, Jersey, Guernsey? Or what else would be stopping me from applying for any more cards? I suspect it is a jurisdiction issue, with debt collectors from UK not having any authority to act on the Isle of Man which would make it expensive and time consuming for lenders to recover funds. 

Thanks in advance

Rob

[Deleted User]

Most lenders exclude non UK residents, under which the IoM falls due to its self governing status.

You could try a few lenders directly to see if their criteria are more flexible. The NSE checker is a very blunt tool.

However, if you're paying interest, accept any 0% card you're offered as it will reduce your debt more quickly.

[Deleted User]

It's far more likely that it's simply not economic to cover IOM with it's tiny market size.

The UK has currently three jurisdictions (England/Wales, Scotland and Northern Ireland) plus the jurisdiction of the debt would be local to you so this wouldn't be much different than an England based debt collector chasing a debt in Scotland.

ManxRhubarb

Hi RobTiom
Did you get any joy with this issue?  I am encountering similar problems. I'd be interested to know if you found a balance transfer card provider willing to issue to an Isle of Man resident?
Thanks!