Refused new credit cards with better deals

duir

I have around £7000 spread around 3 credit cards. I am now paying extortionate amounts of interest after 0% interest periods. I have a mortgage and a HSBC proffessional studies loan for £50000. My latest cradit score came out at 910 out of 1000 but I seem unable to get any new credit cards at 0% interest. I earn around £38000 per year and I am trying to pay of the cards ASAP but these new per annum charges are crippling me? Why can't I get more interest free deals and why is 910 considered a bad rating? What's the best course of action.

CLAPTON

If you only earn 38,000 and have debts of over 57,000 it may be that lenders consider that you are over extended.
If you have applied for several lines of credit in a short time it might well be best to wait a few months before making further applications
In any event it might be best to go for life of balance deals or 'reasonable apr' deals rather than 0% whcihf tend to be offered to the 'best' customers

jonesMUFCforever

Why does OP think that he should get credit for free?

He has fallen into the trap of getting into deep debt using 0% as the hook.
Now times have changed and he is struggling.

Clapton has given good advice the only bit I can add is to go and visit the debt free wannabe board.

duir

I am not necessarily saying I should get 0% interest but I would appreciate a better deal. Perhaps the life cards are a better option but are these available to people in my position? As for earning £38000 per annum within 12 months when I am promoted my income will be around £60000 per annum so that should improve matters.

jonesMUFCforever

duir wrote: »

I am not necessarily saying I should get 0% interest but I would appreciate a better deal. Perhaps the life cards are a better option but are these available to people in my position? As for earning £38000 per annum within 12 months when I am promoted my income will be around £60000 per annum so that should improve matters.

A better deal than what?
You don't quote what rates you will be on.

The Professional studies loan will probably be on the low side as interest rates goes and you should be able to fix your mortgage at a decent rate.

chuckley

it looks like ur being refused due to the amount of credit u have. Rather than applying for moredit u need to sort out ur spending and cut out as much as u can.

this in the long run is better, than getting a new 0% deal and leaving the debt as u 'wont be paying interest', only to be saddled with the same debt or more, then posting another thread like this in 9 months time...