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BT lack of offers
Comments
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Never had a 0% from them.
Let's Be Careful Out There0 -
I have the same offer but it's rather pointless, I don't have any cards that would really benefit from moving some to Barclays
Sam Vimes' Boots Theory of Socioeconomic Unfairness:
People are rich because they spend less money. A poor man buys $10 boots that last a season or two before he's walking in wet shoes and has to buy another pair. A rich man buys $50 boots that are made better and give him 10 years of dry feet. The poor man has spent $100 over those 10 years and still has wet feet.
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Seems opening 4 CC then maxing out had consequences, Amex lowered my limit from £9900 to £900!
Let's Be Careful Out There0 -
You need to use Totally Money or the MSE Credit Score to monitor your credit history.
What will have happened is that 3 hard searches for the new cards would have logged after a month or two and that will have impacted on your credit score / profile. If you then maxed out the cards, your 'utilisation' will have dropped. The scoring companies like it kept below 25% - even better on every account as well as over all.
Although the lenders can't see your full history / score, there does seem to be a direct link between what the apps say about you and what the lenders offer.
The other factor of course is the new lenders appetite to risk and if you meet a profile that they like.0 -
The CRAs love talking about utilisation, in reality it only is a problem if you are carrying a balance and paying interest, a 0% promo rate is understood by lenders. The scoring companies don't lend you money so what they say is irrelevant. Stoozers hold balances of up to 95% of card limit and roll the money along, if your credit history is solid it's not an issue.
Lenders absolutely can see your file - they get a lot of information even from soft searches, the hard one doesn't add a lot more as they already know if they will lend to you. There is no direct link around the gimmick score nor what CRAs say about you, only the data matters
Sam Vimes' Boots Theory of Socioeconomic Unfairness:
People are rich because they spend less money. A poor man buys $10 boots that last a season or two before he's walking in wet shoes and has to buy another pair. A rich man buys $50 boots that are made better and give him 10 years of dry feet. The poor man has spent $100 over those 10 years and still has wet feet.
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If someone wants to arrange a bit more borrowing, I don't see the point of keeping existing cards around 25% so as to apply for another. Just use what there already is a bit more.
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New cards are likely to offer better balance transfer rates or a longer interest free spending period. I'm not advocating racking up more debt, but there can be sensible money saving reasons not to use existing cards.
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