Declined HSBC card for plastic loan, what now?

jl1_2

I'd like to do a plastic loan to pay off a £4k loan with Barclays that's at a high APR (around 16% I think), that they won't refinance at a lower rate.

I signed up for and got an Egg Money card.

I applied for the HSBC that had 2.9% on balance transfers for 24 months, and I was declined. I'm not sure why I was declined. I did the HSBC application about 10 days after the Egg one. I got the Egg Money card with no problems that has a £3k limit, and prior to that opened a joint current account with my girlfriend. (Oddly the HSBC application didn't ask for anywhere near 3 let alone 5 years of address history. )

My questions are:

Are there any other good deals similar to HSBC's 2.9% for 24 months?
How long should I wait until I do another application? Could it be that the HSBC application was too soon after the Egg one? Are there any rules to follow here?

Thanks for any advice.

udydudy

jl1 wrote: »

I'd like to do a plastic loan to pay off a £4k loan with Barclays that's at a high APR (around 16% I think), that they won't refinance at a lower rate.
I did the HSBC application about 10 days after the Egg one. I got the Egg Money card with no problems that has a £3k limit, and prior to that opened a joint current account with my girlfriend. (Oddly the HSBC application didn't ask for anywhere near 3 let alone 5 years of address history. )

Thanks for any advice.

the problem could be that you made too many applications. Normally 2-3 checks in a 6 monmth rolling period are considered ok. Any more and you start getting rejected. My suggestion would be to wait for 6 months before you make any more applications so that you do not get more rejections.

Unless someone on this forum knows which companies are more lenient.

YorkshireBoy

Why not appeal the HSBC rejection?