Can not get a balance transfer card

Martin92

Hey everyone, 

I have around £21k over 3 credit cards which I would like to pay off by the end of the year, however I have tried to get a balance transfer card but my eligibility is 0. Would I be best of clearing one credit card down and then trying again to get one so my risk is lower on my credit assessment report?

Thank you in advance for the help.

[Deleted User]

Clear down as much of your existing debt as you can, highest rate first.

Visit the DFW boards for advising on getting rid of the debt so you're not reliant on BT offers.

[Deleted User]

The chances are (assuming you have checked on the issuer's own site, not the CRAs) that they consider you have too much debt vs income hence won't give you another card. If you can pay down one you might get a new BT offer that you can use

cymruchris

The more you can reduce your debt (keeping your credit limits intact) the more likely you are to get a better offer (assuming there are no nasties lurking in your history like CCJ's and late payments) - whichever has the highest rate - get that one paid down first - maintaining just over the minimum payment on the other two cards.