Credit Rating for new credit card

faye27

I'm wanting to transfer my two credit cards to a 0% interest card since I'm paying 34% on one of them! However I've been declined a few times in the past since my credit rating is so bad. I've checked on Experian and it is 818 and says that is better than 40% of people applying for credit. If I applied for a new card now (its been over a year now since I last applied for anything and was declined) does anyone know what the chances are of being accepted? I don't want to apply and be turned down and further lower my score but if it says that it isn't terrible and Experian classed it as 'Fair' then would there be a good chance of being accepted for a 0% card?

Thanks!

bethanyrayne

faye27 wrote: »

I'm wanting to transfer my two credit cards to a 0% interest card since I'm paying 34% on one of them! However I've been declined a few times in the past since my credit rating is so bad. I've checked on Experian and it is 818 and says that is better than 40% of people applying for credit. If I applied for a new card now (its been over a year now since I last applied for anything and was declined) does anyone know what the chances are of being accepted? I don't want to apply and be turned down and further lower my score but if it says that it isn't terrible and Experian classed it as 'Fair' then would there be a good chance of being accepted for a 0% card?

Thanks!

I don't think "Fair" is good enough for the best deals such as Virgin 0%/15 Months.

Since you haven't had any searches in past 12 months their must be something dragging you down and you know what it is so don't apply if you know you will be refused.

Having said that a couple of searches in 12 months isn't going to do you any damage.

faye27

Thanks for the reply. So do you think it would be worth it to try applying for a new credit card? Are there any companies which are less strict on applicants credit history?

bethanyrayne

faye27 wrote: »

Thanks for the reply. So do you think it would be worth it to try applying for a new credit card? Are there any companies which are less strict on applicants credit history?

If you have no CCJs or Defaults on your file I would give Virgin a go because they can only say no and like I said a search or two in your case isn't going to harm you.

If you get turned down by them try Thomas Cook, they do 0% for 9 months with 2.99% fee.

I would give them a go afterall what've you got to lose. Good Luck

thatboydean

Yes i'd give it ago, i was accepted last week by halifax and got there 0% deal for 9 months bt and purchases
and had a score of 806 but i do bank with them!