Best way to rejig cards?

simonts

I unfortunatly over the last year got myself into some card troubles since my partner left and I was stuck with taking on everything or having nowhere to live.

I get by from month to month or rather didnt by sticking a bit here and there on cards, This was all well and good and I could manage it until the lenders started invoking their rights to up the APR from reassessing your account conduct (load of rubbish considering I never missed a payment on them)

I'm now looking at the following and scratching my head as to what to do as with the credit crunch nobody will offer me a 0% balance transfer card.

Virgin(MBNA) £5500 (26.9%)
Egg: £6300 (26.9%)
Nationwide: Cleared today (Limit £2200 16.9%)
Capital One: £2500 (Limit £5000 16.9%)

I should be coming into £5k shortly which should deal with a large chunk and so I am guessing that my best bet would be to try and get a 0% offer from Nationwide and transfer all I can to Capital One who last time I phoned them tried to offer a 0% deal?

I could try a loan but I am due to start remortgaging in March and like the fact that if needed with creditcards I can temporarily hide the debt with help of family, Once remortgaged a low rate loan would probably be best

Bismarck

"the lenders started invoking their rights to up the APR from reassessing your account conduct (load of rubbish considering I never missed a payment on them)"

- hi

thanks for your post...sorry to hear of your circumstances...

I'm sure others with vastly more knowledge than me will provide insights but I wondered if you could help us all with an indication of what the account conduct was that caused the lenders to up your rates. I feel this may be useful knowledge to a lot of people if the crunch doesn't soften.

simonts

Well thats the thing nothing aside from spend on it, Its just a generic line MBNA and Egg seem to use for their excuse to up the APR. Like I said I have never missed payments on either card since I have had them.

I have said this to them, First time Virgin did this they reduced the APR back down but this time would not budge

Bismarck

just a thought, did you get close to your limits, or do cash withdrawals or any more credit applications that could make them jittery about your position? we might think it's OK but if their computer doesn't like it you could suffer ....Or is there anything on your credit report that could give them reason to feel they could/should/can put the rise onto your cards - esp if they feel you can't move anywhere else.

simonts

My credit seemed to die from the moment I moved into this house, As far as I am aware subject to checking nothing has changed on my credit since then (May 2006)

I know credit isnt supposed to work that way anymore but it seems ever since moving into a reposessed house it all went wrong...Or it could be that I am still financially linked to my ex by the mortgage (we agreed to keep it as it is due to an £8k redemption penalty)

Bismarck

do suggest you check your credit report though to see if there's anything you can fix on there or at least be aware of when you apply for cards so you're not seen as looking for more credit in places where it's unlikely you'll get an acceptance...this could then mark you as looking desperate when you come to apply for a card/loan that is more suitable to your situation....hope you know what I mean!

know what you mean about the house thing....the last houses we've been to have had interesting post and phone calls for a while after we moved in...I thought the house was cursed! too many movies I suppose...