Extra checks taking a long time on balance transfer - any guidance?

ddraiggoch2021

Hello all, hope you're well.

Situation:

- £1600 on 0% interest balance transfer card (not able to make any more balance transfer requests)
- £400 on 'emergency' credit card
- Applied for another 0% interest balance transfer card (Sainsburys) to consolidate the two
- Excellent credit score

I applied over three weeks ago as my application for the Sainsburys credit card was subject to extra checks.  I have called Sainsburys who have advised that they're still waiting on these checks.

In the meantime, interest is accruing on the £400 on the 'emergency' credit card, which I am now in a position to take the hit on (unexpected car troubles pre-Christmas).

Would my best course of action be to wait, or simply pay the £400?

My frustration is that, if I do that, it renders the application wasted and useless - and shows up for no good reason (I am also looking to get a mortgage with my husband later this year, and on reflection should not have applied for further credit), but at least clears the debt.

I'd really welcome your thoughts, thank you.

[Deleted User]

If you have the funds, clear the debt. You'll want it gone before your mortgage in any case.

One search will have no impact.

ddraiggoch2021

Thank you for responding.

I will, but my concern is that when I look at my credit score, while it's 'Excellent' I am still slightly marked down for frequency of credit applications (2 in 12 months). 

My concern/paranoia is that this is impacting the approval of the latest one, and a rejection would be terrible timing in terms of my mortgage.  

Ebe_Scrooge

ddraiggoch2021 said:

Thank you for responding.

I will, but my concern is that when I look at my credit score, while it's 'Excellent' I am still slightly marked down for frequency of credit applications (2 in 12 months). 

My concern/paranoia is that this is impacting the approval of the latest one, and a rejection would be terrible timing in terms of my mortgage.  

Your score is totally irrelevant, it is not used nor even seen by any lender.  A lender would be able to see the hard searches on your file, but 2 in 12 months is nothing to worry about.  And a lender can only see the search - not the outcome.  So whether you're accepted or rejected will matter not one jot.