Best Balance Transfers Discussion Area

Moggles_2

andrinagreig wrote: »

On Martin's blog about the best balance transfer deals, he says that the best deal is the Barclaycard OnePulse Credit Card with Balance Transfer on money site - interest free untill 1/12/09 with 2.5% fee, but on a comparison site I found Barclaycard Long Term BT & Purchases that is only a 1.7% fee and is interest free for 9 months balance transfers. Provided that you only need 9 months, is there a catch to the really low fee?

Not if you're positive you can clear the debt in 9 months

MigsyBigsy

Moggles wrote: »

Unfortunately, yes. You're scored the same way, whichever route you use.

Where did you check your credit rating?

I have checked it on Experian

shoestupid

all banks use different scoring systems aswell as your credit search info so i am afraid its not easy to rate yourself by looking at your credit file - this can only give an indication of any late or missed payments they will see together with electoral role, financial associates etc....

MigsyBigsy

shoestupid wrote: »

all banks use different scoring systems aswell as your credit search info so i am afraid its not easy to rate yourself by looking at your credit file - this can only give an indication of any late or missed payments they will see together with electoral role, financial associates etc....

but this is now the second time i have been refused with something, the first being a mobile phone and now this. It s not as if I am unemployed and have thousands of pounds in debt.

Will this even jeopardise a future application for a mortgage?

Moggles_2

MigsyBigsy wrote: »

This is now the second time I have been refused with something, the first being a mobile phone and now this. It's not as if I am unemployed and have thousands of pounds in debt.

Which credit cards - besides Barclaycard - do you have at the mo?

MigsyBigsy

Moggles wrote: »

Which credit cards - besides Barclaycard - do you have at the mo?

I have two Barclay cards, one a credit card and the other a debit card. My other one is a Alliance and Leicester debit card

Moggles_2

MigsyBigsy wrote: »

I have two Barclaycards, one a credit card and the other a debit card. My other one is an Alliance and Leicester debit card.

Bear in mind that potential lenders cannot assess the way you handle credit directly. The best indication they have is the payment history and credit limits on your existing cards with other lenders. At the moment you have just the one Barclaycard. (The two debit card a/cs will appear on your credit reports only if you have overdraft facilities.) Once you've operated your Barclaycard and at least one other credit card for a bit, you should find it easier to get the credit cards and limits you want.

That said, there are any number of reasons why a given lender may refuse to extend credit. For tips to improve your chances of credit card acceptance, have a look at the *Credit Rating: how it works and how to improve it guide* especially Martin's *Manage and Improve your credit score* article

http://www.moneysavingexpert.com/banking/credit-rating-credit-score#improve

Have you considered Mint? 14 months 0% on BTs is currently available to new customers. There's a 3% handling charge

MigsyBigsy

i also have an ISA and money in Kaupthingedge, but this doesnt show up in my credit report.

Still cant believe I need to own more that one credit card to have a good credit history..

Moggles_2

MigsyBigsy wrote: »

I also have an ISA and money in KaupthingEdge, but this doesn't show up in my credit report.

That's right. Only credit facilities are shown on your credit files.

Moggles_2

MigsyBigsy wrote: »

Still can't believe I need to own more that one credit card to have a good credit history.

You're not alone. This comes to a surprise to a lot of people.