Balance Transfers problems

cheeryone

Hi,

I am not sure what I am doing wrong but I hear Martin and other experts telling us all to balance transfer our credit card debt to new 0% cards as if its as easy as just picking which one you want.

I am ok with money, no overdraft or huge credit card debt and I even took a test on my credit rating which was done via a link from here and that came out with a good score but two cards have now turned me down..one even said I owe to much credit due to my mortgage (thought having my own home was a good thing) and a credit card (which I was trying to move to them!!)

Anyway rant over just thought I would let people know that changing your credit card is not as simple as people keep making out.

Bismarck

There is that...sometimes you do get a feeling of "it's all very well for those who can!"

Your score isn't actually relevant though...it's more a case of the people you've gone to assessing your risk level by their nefarious means and your profitability as a customer...

I get hacked off too when it's touted that you can get 15 months at 0% for a small fee....when I know my circumstances won't let me so it's a waste of an application...

IRT1959

My Experian score is 875 and I had a similar problem with my Virgin application back in about March. I needed to transfer about 8k all told and I think it was by stating in the application that I wanted to do the balance transfers from my 3 cards is possibly why my application was refused. Ah well.

Moggles_2

I would keep an open mind about the reasons you were unsuccessful. There are any number of reasons why a given lender may refuse to extend credit.

Have you checked your credit reports lately? (For help, see the *How to obtain credit reports* sticky.) This is the information UK lenders see when you apply for a new credit card. Mistakes do happen.