Best Balance Transfers Discussion Area

Moggles_2

sdstar wrote: »

I applied for an Abbey Zero card online and was told today that it's been declined. Can someone tell me if this will affect my credit rating?

The credit reference agencies do not record credit card refusals, only credit checks. These drop off your file after 12 months, so the effect is short-lived. Even then, credit checks are viewed as negative only if you attract too many in a short space of time.

I've never had anything declined in my life, so was rather shocked to hear this.

Have you checked your credit reports lately? If you use the links on page 1 of the *How to obtain credit reports* sticky, you'll be able to see at first hand the data UK lenders search, when you apply for a credit card. Experian sends explanatory notes which are a good read as well. Worth doing, IMO. Mistakes happen.

Meanwhile, 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

This approach takes a little more effort than writing to the lender but, IMO, is more likely to get results.

Moggles_2

In case anyone else is considering Abbey, the Abbey Zero card is no longer available to new customers. The latest deal offers 0% on BTs for 15 months. A 3% fee applies.

The following are fairly typical of posts to this board, unfortunately. If you use the search facility, I'm sure you'll turn up some others. :rolleyes:

http://forums.moneysavingexpert.com/showthread.html?t=1434971&highlight=Abbey+zero

http://forums.moneysavingexpert.com/showthread.html?t=1393005&highlight=Abbey+zero

http://forums.moneysavingexpert.com/showthread.html?t=151272

redmoorphil

I was interested in the MBNA rate for life card that Martin mentions in his guide but clicking on the link takes you to a page saying unavailable.
Does anybody know if this offer has been withdrawn or is it just a temporary problem on their site?
Thanks

Moggles_2

redmoorphil wrote: »

I was interested in the MBNA rate for life card that Martin mentions in his guide but clicking on the link takes you to a page saying unavailable. Does anybody know if this offer has been withdrawn or is it just a temporary problem on their site?

That one's been pulled, unfortunately.

There's a dearth of decent LOB deals at the mo, but this table on the stoozing site (which is sponsored by Money Saving Expert) should help:

http://www.stoozing.com/lob.php

pinkpig08

I've been looking at BTing to Tesco's 0% for 14 months, but when I click on the link to the card it just says the interest rate and mentions nothing about a 0%. Is it not available anymore?

Moggles_2

pinkpig08 wrote: »

I've been looking at BTing to Tesco's 0% for 14 months, but when I click on the link to the card, it just says the interest rate and mentions nothing about a 0%. Is it not available anymore?

14 months at 0% is currently still available to new customers from Tesco.
A 2.9% BT fee applies.

http://www.tescofinance.com/personal/finance/finance/creditcards/bonuscc/index.jsp

pinkpig08

I can still only see that it offers an interest payment back every year? I don't currently have any cards with Tesco.

Moggles_2

pinkpig08 wrote: »

I can still only see that it offers an interest payment back every year? I don't currently have any cards with Tesco.

Click on the link below, then select the summary box from the menu on the left-hand side of your screen. The BT offer's still on.;)


http://www.tescofinance.com/personal/finance/finance/creditcards/bonuscc/index.jsp

onesonsmum

Hope someone can help, I've been made redundant and am currently unemployed. I'm about to begin a career in nursing and will be eligible for a small busary and have no other income. I want to transfer my outstanding CC debt to a 0 %card and want to avoid messing up my credit scoring BUT is it worth the bother as I have no income?

cheers fellow MSE fans !

Moggles_2

onesonsmum wrote: »

I've been made redundant and am currently unemployed. I'm about to begin a career in nursing and will be eligible for a small busary and have no other income. I want to transfer my outstanding CC debt to a 0 % card and want to avoid messing up my credit scoring [sic], BUT is it worth the bother as I have no income?

If your income is under £10,000 pa, you're not really in a position to get the best balance transfer deals on credit cards. Lenders like stability, so best practice is to apply for credit facilities, where possible, before you move/change occupation/change banks. Being with the same employer, bank and current address for a while all help when applying for market-leading BT cards.

Is it possible to move this balance to a new card in your partner's name, if there is one?

Meanwhile, I'd stop spending on your credit card (if you haven't already) and concentrate on paying off as much as possible each month. Clearing this debt ASAP will reduce the interest you pay and you'll be building a better credit history in the process.;)