August 18, 2005

If you have tried to make a balance transfer from your credit card to another to save you paying interest for a period of six months or more and were accepted, but were not offered a limit that would let you transfer the whole amount that is on the other card, then try not to let it get to you and hit back at the credit card company that you have applied to transfer to, by telling them to “shove it” and to tell them you will never apply for credit from them again.

Sure you may not be happy, but by going down the road of a verbal volley in retort to them, for not giving you what you want, will only mean that you inflict on yourself the old adage, of cutting off your nose to spite your face.

What you have to understand is that credit card issuers or any sort of lender, will look after they’re own interests first before yours, just the same as you will look after what’s best for you.

The credit card company will look to see if you will be a customer that is going to be an advantage to them, in other words be profitable, as this is the only customers that they are truly in the market for and by doing this they will check out any debts that you may have with other, personal loans, any hire purchase deals and overdrafts.

Your repayment history will also be looked at, to check for any payment difficulties such as late in paying you debt or even missed paying them altogether.

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The amount of available credit that you have, is also a major factor in accepting you and how much credit that they will give you, to work out the debt that you could accrue if you used it all to the limit.

And if you are a “Rate Tart” then the chances are you could be at a disadvantage for playing the system to save paying interest, which could lead the banks to scoring you out, as it will see you as a risk to jump ship at the end of the 0% period that they are offering for balance transfers.

Picking the right credit card in the first place to balance transfer to is hard enough and there is no fast track way to choose the best one, but finding out from family and friends the fed back that they have about the credit card that they own could help you to suss out the card that you want to plump with, or log on to the Internet and go to some credit card sites that offer some god advise on the best cards on the market, though have an open mind, as the ones that they are suggesting may not be the best for you personally and may not suit your everyday needs fro the card.

Remember if you decide on the card that you want and you don’t get the credit limit that you crave for, then don’t have a rush of blood to the head, as you may be better off transferring what you can on the card as it will still save you money, as if you knock back what they have offered as a credit limit, you may find that you lose money in the long run as you begin your search all over again and there is no guarantee that the next credit card on your list will give you the limit that you require and remember there is no limit to the amount of cards that you can apply to, though word of warning would be to try and stick to 3 or less as any more may affect your credit scoring in the future, as you could be seen as a debt risk.