Best Balance Transfers Discussion Area

Chrissybh0y

rejected on virgin and halifax any point in applyin for anymore :9

soad_2

Moggles wrote: »

'Sounds as though you may have too much available credit in relation to your annual income. 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

Scoring me a mid risk, I would say your're right too many credit options but trying to movethem to low or zero interest is failing so presumably not helping my rish factor and therefore they're all getting maxed out bit of an ever descreasing circle

Moggles_2

Originally Posted by Chrissybh0y
Rejected on Virgin and Halifax. Any point in applying for any more?

Probably not at the mo.

Have you checked your credit reports lately? This is the information UK lenders see when you apply for a new credit card. (For help, see the *How to obtain credit reports* sticky.)

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

Moggles_2

soad wrote: »

Scoring me a mid risk. I would say you're right (too many credit options) but trying to move them to low or zero interest is failing, so presumably not helping my risk factor and therefore they're all getting maxed out. Bit of an ever descreasing circle.

Admittedly the best balance transfer deals are usually reserved for new customers, but you don't have to apply for a new card to get new credit. You may be able to reduce your costs using credit cards you already hold. For details, see Martin's *Credit Card Shuffle*article

http://www.moneysavingexpert.com/cards/cut-credit-card-interest

soad_2

Moggles wrote: »

Admittedly the best balance transfer deals are usually reserved for new customers, but you don't have to apply for a new card to get new credit. You may be able to reduce your costs using credit cards you already hold. For details, see Martin's *Credit Card Shuffle*article

http://www.moneysavingexpert.com/cards/cut-credit-card-interest

even if all my cards are just about maxed out?

Moggles_2

soad wrote: »

Even if all my cards are just about maxed out?

You can still do shuffle step 1.

Meanwhile, I would concentrate on reducing your most expensive debt as much as possible each month. Clearing that debt ASAP will reduce the interest you pay and you'll be building a better credit history in the process.

soad_2

I shall let you know what they say thank you

soad_2

They are not being very helpful they allow me to send something this month but expect the out standng balance to paid next month along with next moths balance too

Moggles_2

soad wrote: »

They are not being very helpful. They've allowed me to send something this month, but expect the outstandng balance to be paid next month along with next months balance too

Martin's advice, in your situation, is to ask for an interest rate reduction, not a reduction in monthly payments.

I would concentrate on Shuffle Step 4, now

soad_2

R I think I was confusing myself and getting tongue tied I shall go back and ask for an interest rate reduction Thanks