xx Newbie Needing Help xx

Rainy_Day_Dolly

Hi All

Just registered but this forum looks good and I am in dire need of advice!!!!

I've been with Egg for a few years now and have both a loan and a CC. My loan is all but paid off and I've never missed one payment. My CC on the other hand is a different story and has crept up to its limit now sitting at £4,000. A wee while ago I applied to another company to see if I could transfer my card over but I was refused - as I didn't know about the whole credit rating/scoring system, I remained online and re-applied twice more in one sitting, both to no avail. Not good!!

I phoned Egg last nite to start sorting something out and asked if there was any way i could top up my loan by transferring the balance of my CC over and cancelling it and the fool on the other end of the phone said no! I have not passed their credit check (in THE most patronising voice you've ever heard):mad: and they can't take the chance and let me do this. ?????? I'm pretty pi55ed off as the only debt I have is with them and they would still be getting money out of me if I transferred my card over grrrrrr!! Only thing I can think of is that they are rubbing their hands together knowing that my card will probs stay at its limit when I am long under the turf an a wooden box!! The minimum payment is all I can afford and it pays off the interest and nothing else. [EMAIL="B@st@rds"]B@st@rds[/EMAIL].

Has anyone been in a similar situation or can anyone advise what I could try next? Don't want to go scouring the net applying for stuff as it will just dent my credit file even more - sad really that you try to better your situation and get penalised for it

Dolly xx

dhassen

Welcome

When you've finished paying off the loan though, you can add that amount of money (your monthly loan payment) to your minumum payment on the CC, making more of a dent. give it at least 6 months before appplying for any more credit (sorry, applying for the same thing 3 times is a bad move, and quite funny!), and before you apply for anything else get copies of your credit files and make sure everything is in order.

Rainy_Day_Dolly

Thanks for your response, good advice - I just followed bad advice from work colleagues who told me to keep trying if I was refused (not months apart), can't say I found it funny though but I'll chalk it up to a very bad experience

MrsTinks

Have you checked your credit file to see if all 3 searches have been carried out and registered seperately? they just might only have done one search if all from one company... Or you might be able to get the credit ref agency to remove 2 of the 3 searches? Nothing ventured...
Also check for any other major problems and check martins articles for best cards depending on how bad your file really is... Good luck!

dhassen

You should definatley check your credit files, and possibly do so again in 6 months before you apply for anything else. Snowballing is the answer though, if you can! The great thing about credit cards, as apposed to loans, is that you can overpay easily, without any adverse effect.
You may find that when you've cleared one thing, other companies (or egg themselves) become much more willing to give good deals this has happened with me bigtime. 2 of my cleared cards are now giving me new 0% deals, meaning I can pay of even quicker, and I've just been got a new egg (0% 15 months, 3500limit) card, to take a massive chunk ouf of cahoot (curses)

good luck

GeorgeUK

As Tine said, check your credit file to make sure that the details they hold on there are correct. Also make sure you are on the electoral roll for your address - this can also influence your credit score.

Rainy_Day_Dolly

Thanks all for the advice - I'm going to do some investigating & check my report.
(Think my first note was a bit mis-leading, I didn't apply for the same product from the same company 3 times - I just tried to get 3 different CC's in a really short space. Really stupid but I hope I can sort it out xx)

dhassen

Rainy_Day_Dolly wrote: »

Thanks all for the advice - I'm going to do some investigating & check my report.
(Think my first note was a bit mis-leading, I didn't apply for the same product from the same company 3 times - I just tried to get 3 different CC's in a really short space. Really stupid but I hope I can sort it out xx)

Sorry I got the impression you applied for the same prod 3 times - that's what I found funny...... I'm sure a few of us have applied for several different ccs in a short space of time, without knowing the effect it can have.

Good look tho