What to do ....balance transfer/ Purchase 0% ending but can't get another

JPWolf123

Is that because you would be new to Tesco ?

TheSpectator

JPWolf123 said:

For context - i have never missed a mortgage or other credit payment. I am full time employed . Options  or thoughts ?

Earnings?

I can't see anyone offering new credit based on those figures I'm afraid.

As molerat said, are there no offers on the Tesco card which has a decent amount of available credit? Amex very rarely, if ever, do offers.

Hoenir

JPWolf123 said:

For context - i have never missed a mortgage or other credit payment. I am full time employed . Options  or thoughts ?

Sell the property and clear the debt

Go through your outgoings with a fine tooth comb and cut back where ever possible

Apply to your mortgage lender to have the mortgage term extended. Lowering your monthly payment and using any excess to speed up repaying the debt

Stop personal pension contributions and as above redirect the money into tackling the debt owed. 

Brie

Just a quick thought - and think carefully about it - if you lowered the limit on your Tesco and Amex you are less of a risk to any other bank and more likely to get another card and more likely to get good offers. 

But don't do so if you know you're going to need those limits for something in the next few months.  Personally - if I was using the Tesco card for my day to day shopping I wouldn't need a £13k limit as I spend much less than that in a month.  Maybe lower by 2 or 3k?  perhaps?  just to see what happens and then lower again??  

as I say just a quick though as I'm off to the land of nod.

eskbanker

JPWolf123 said:

Hi -this is the full information 

JPWolf123 said:

I am full time employed . Options  or thoughts ?

You have roughly £74K of available credit, how does that figure compare with your annual earnings?  If you're earning well into six figures then it might not be too challenging, but otherwise it wouldn't be hard to see where affordability concerns arise.

JPWolf123 said:

For context - i have never missed a mortgage or other credit payment.

Unfortunately this really isn't the positive that people sometimes think it to be, it's simply the absence of a negative, i.e. it's just complying with your contractual obligations rather than achieving something impressive.

TheSpectator

Just noticed that a couple of the cards are showing balances over the limit? Is this right or have you transposed the figures?

ManyWays

do you have any other debts - loans, overdrafts, car finance?
who is your mortgage lender? 

JPWolf123

Brie said:

Just a quick thought - and think carefully about it - if you lowered the limit on your Tesco and Amex you are less of a risk to any other bank and more likely to get another card and more likely to get good offers. 

But don't do so if you know you're going to need those limits for something in the next few months.  Personally - if I was using the Tesco card for my day to day shopping I wouldn't need a £13k limit as I spend much less than that in a month.  Maybe lower by 2 or 3k?  perhaps?  just to see what happens and then lower again??  

as I say just a quick though as I'm off to the land of nod.

Thanks, good thought 

JPWolf123

TheSpectator said:

Just noticed that a couple of the cards are showing balances over the limit? Is this right or have you transposed the figures?

I think the figures in the wrong coloums for those

JPWolf123

ManyWays said:

do you have any other debts - loans, overdrafts, car finance?
who is your mortgage lender? 

No . Nothing else and with Halifax . The table has not come through accurately. I will re- post this