egg,please help

dazzhazz

i am currently paying egg £100 per month on £3000 debt but so little is coming of the balance im am getting so worried,i also have a capital 1 card with a £2000 limit and about £800 spent on it,have applied for a 0 % card from my bank to transfer the balance over but been turned down,have checked my credit history which is fine,have always made all repayments to any debts and have always made more than the minimum payment,any help greatly received.

jonesMUFCforever

What 's your limit on the Egg card?

It might be that the total credit available to you is frightening any potential lender or your loan to salary ratio is too high.

dazzhazz

my limit is £8000

jonesMUFCforever

Potentially you have a line of credit of £10k.
What is your annual salary?

It may be better for you to ask Egg to reduce your limit to say £3.5k wait a month or so for it to be reflected in your credit report and try another card.
Obviously there is no guarantee that this will work and if you are turned down again don't apply repeatedly to other cards as this will make things worse.

If your debt is causing concern and you can't shift it onto something cheaper go over to the debt free wannabe board - there is a lot of people on there in the same boat.

greyster

Get a credit report to see whats going on on your account?

remember you can get a free credit report from experian. If you go through quidco you'll even get paid to!