Does Barclaycard do SBT? Plus more advice wanted

Lurker

I'm intending to move my current account to Alliance and Leicester (thanks Martin), but also have a debt that I want to SBT.

Will moving my current account affect my credit application?
I've recently applied for CapitalOne and Virgin and been turned down.
My next step is to find out why from Equifax, as to my knowledge I have no outstanding debts and no other credit cards. The SBT is for my husbands £3000 overdraft, as he can't get credit himself.

Mainly I want to reduce the interest on the debt as soon as possible, so changing current accounts can wait. Another reason for sticking with my current bank is that it's Barclays and I might get a Barclaycard easier by being on their System since I was at school.

I'm going to phone Barclaycard to see if they will tell me over the phone whether I can get a card and what credit limit, without them doing a check and adding more 'black marks' to my credit score. But there's no point in taking one of their cards if they won't let me do a balance transfer to either my current account or my husbands.

Any help would be appreciated.

Clariman

Hi Lurker

Make sure you get a copy of your credit history (AKA file) from equifax rather than your credit score. You can then see what facts the lenders will base their lending decisions on. You may see some mistakes and/or you might see some credit cards which you never got around to closing.

You have had a couple of rejections recently. Now this could be because of your own credit history but may also be affected by your husband's. While we are each treated as individuals by the credit reference agencies, you may find that your credit files are 'linked'. This happens if you have any joint accounts and/or joint debts (e.g. joint mortgage).

Another reason for your rejection could be that you do not have sufficient credit history for them to base an assessment of what level of risk you would be to them. This is often the case if the individual has never had any debt or credit cards. You say you have none currently. Have you ever had a credit card that you operated perfectly ?

I don't think moving your current account should have a negative impact but you could always keep the first one open just in case.

If you are having difficulty getting a card then going to your bank may be the best bet. However, I don't think Barclays do an SBT card (?).

Final thought. It would also be worth getting your credit history from experian. More organisations seem to use experian than equifax so there reports seem to be somewhat fuller.

Clariman

Repo

IIRR Barclaycard have always done a lower interest rate on balance transfers; the last time I taked to them it was 4.5% but this was some time ago.

I don't think this has been publicised that much and I'm not sure if they have ever done it as an introductory rate.