0% finance credit

Drew_TNBD

If you qualify for some credit one month for an item, but then change your mind and get a refund, the next time you want credit, are they more likely to decline? This just happened to me and I'm a bit baffled. Basically I got a Kemper a while back, didn't want to keep it so reversed the whole lot. Now I want to upgrade my soundcard, and was hoping to get the 0% 9 months credit, but they declined it. Bit annoying, and I don't understand how they came to that decision.

monquixote

It's possible. 

Lots of things can damage your credit rating even things like getting a credit check on a mortgage, but not actually taking up the mortgage can make you less likely to be approved next time. 

Might be worth getting a credit report done.

Drew_TNBD

Bah. That is annoying. I'm feckin' good for it as well! >:P

Myranda

Each time you get credit checked it goes against you

Drew_TNBD

I'll just have to sell my current card before I get the new one I guess. *grumpy*

DiscoStu

Tesco do a credit card with 18 months 0% on new purchases.

Might be an option?

DiscoStu

http://www.tescobank.com/creditcards/clubcc/index.html?referrerid=tesco20&simigvis=My45OTMuNTQ3OTczOTIxNTIyNS4xMzc4MDQ4ODMwMDgx*

chillidoggy

I'm a total rate tart, and haven't paid any credit card interest for many years. I've just got a new Nat West card that has 15 month interest free in purchases, check it out. http://www.natwest.com/personal/credit-cards/g1/platinum-low-balance-transfer-fee.ashx

EDIT - this is good for balance transfers, which is what I do all the time.

[Deleted User]

If you have multiple credit checks done (one is done each time you apply for credit) but have no record of having then taken out credit, it creates a 'foot-print' on your credit record which implies you may not be credit-worthy.

Some credit providers do a 'credit score', where what the lender is looking for is a history of satisfactorily 'managing' debts. In other words, you get a higher score if you have debt which you have made payments on, as and when they were due, than you would have done if you had always been debt free.

Eperian and other credit reference agencies will sell you your credit report relatively cheaply, which will tell you for sure what the issue is.

Phil_aka_Pip

richardhomer said:

Eperian and other credit reference agencies will sell you your credit report relatively cheaply, which will tell you for sure what the issue is.

Sell? They should damn well tell you for nothing!

[Deleted User]

Phil_aka_Pip;25365" said:

Sell? They should damn well tell you for nothing!

That's business....

Friend of mine who used to own a guitar shop used to characterise relationships with banks as 'if you owe them £1000 and can't pay, you've got a problem. If you owe them £1,000,000 and can't pay they've got a problem'.

If you need credit and can't get it, you need to find out if there's something incorrect on your credit record, making you appear a bad risk. If you are a bad risk, you are a bad risk....

The credit reference agencies are in business to make money either way....