Credit Limit - IF

pardal51

Hi all,

I've just cancelled my Lloyds TSB Platinum as they refused to give me a 0% BT as existing customer. I've also cancelled a dormant C/A with barclays.

I currently only hold a Sainsbury's Platinum with an outs balance of 2,800.

I am intending to apply to an IF C/C as my 0% deal with Sainsburys expires in the 1st week of Dec.

Questions:

1) Having an ISA of 1K with IF and salary of 24K pa, if they give me the C/C how much would it be?

2) Last Dec I had a string of refusals: egg, mbna, etc + loans on Abbey, A&L, etc (I bought a car and had the money but didn't want to use it). I started my currently job in Oct/2004. Since the refusals I haven't applied for anything, but opened 2 ISAS (IF + A&L). Do you think I should be OK to apply right now with IF?

3) Is there any other card anyone would recommend (to BT this 2,800)?

4) Being refused by Egg means they won't accept another application?

Help is very much appreciated...

Cheers!!!

YorkshireBoy

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EDIT: Just remembered you wanted to BT from Sainsbury's to IF. As they're both HBOS run cards, you won't be allowed to BT between them. You'll have to find an alternative - check out the link below.
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pardal51 wrote:

1) Having an ISA of 1K with IF and salary of 24K pa, if they give me the C/C how much would it be?

Although they ask you on the application about other IF products, ie ISA, they told me the ISA balance has absolutely no bearing on the credit limit given. They'll be looking at your used/available credit, as well as your salary and a whole host of other things. We'd be guessing if we placed a figure on what we "thought" you'd get. However, if you've "just" cancelled the LTSB card, and if you want to "maximise" the IF limit, then you might be better waiting until LTSB report the closure to the CRA's.

pardal51 wrote:

2) Last Dec I had a string of refusals: egg, mbna, etc + loans on Abbey, A&L, etc (I bought a car and had the money but didn't want to use it). I started my currently job in Oct/2004. Since the refusals I haven't applied for anything, but opened 2 ISAS (IF + A&L). Do you think I should be OK to apply right now with IF?

The credit searches from last December will still be on your credit files, although they may not go against you now, ie some 10 months later. Having said that, there were a lot weren't there? Again, the ISA application searches (if carried out) are irrelevant to your IF application.

pardal51 wrote:

3) Is there any other card anyone would recommend (to BT this 2,800)?

If you want purchases, as well as fee-free BT's, I don't think so. If it's just fee-free BT's you need at 0%, then there are still a few around. Check out https://www.stoozing.com/0fees.htm.

pardal51 wrote:

4) Being refused by Egg means they won't accept another application?

If the Egg application was last December, you should be OK to apply again now I would have thought.

pardal51

Hi YorkshireBoy,

Txs for letting me know that both C/C are issued by HBOS. I couldn't find on MSE website info/table of card issuers/C/C.

1) How long does usually take to LTSB to report account closure to CRA? I am thinking about signing to equifax to check my files. Can I, let's say, try today and if LTSB haven't closed my account, try in 5 days time to check again? WIll these count as 2 searches on my records, i.e., against me?

2) I will not apply to IF anymore as I need to BT from Sainsburys. I hope after 10 months the searches will not affect my application. I was really stupid/naive.

3) I will check stoozing.com for 0% deals, hope can find one suitable for me.

4) May try egg later.

If I get a card to BT my balance from Sainsburys, should I cancel Sainsbury's straightafter and keep only 1 C/C?

Help is appreciated...

Cheers!!!

YorkshireBoy

pardal51 wrote:

Txs for letting me know that both C/C are issued by HBOS. I couldn't find on MSE website info/table of card issuers/C/C.

List of "who owns who" here...

https://www.stoozing.com/cards.htm

pardal51 wrote:

1) How long does usually take to LTSB to report account closure to CRA? I am thinking about signing to equifax to check my files. Can I, let's say, try today and if LTSB haven't closed my account, try in 5 days time to check again? WIll these count as 2 searches on my records, i.e., against me?

Do you know *if* LTSB report your credit card to the CRA's? I ask because they don't report mine! (sorry, forgot to mention that in my earlier post). Your own searches aren't seen by other lenders. I've not signed up for the free 30 day trial, and I'm certainly not paying £60 for a year. I just get my £2 statutory reports as and when I need them, and they only take 4 days to arrive.

pardal51 wrote:

3) I will check stoozing.com for 0% deals, hope can find one suitable for me.

Just be aware that deals change all the time, and there can be a lag before the stoozing website tables get updated. Just this week we have seen Nationwide stopping 0% BT's and NatWest charging a fee for BT's. The stoozing site is a good reference tool, but you must always do your own research with the providers websites directly.

pardal51 wrote:

If I get a card to BT my balance from Sainsburys, should I cancel Sainsbury's straightafter and keep only 1 C/C?

Personal choice really, but I'd close a card I wasn't using. Just make sure you haven't got any CPA's (continuous payment authorities) attached to it.