CreditCards Blog

I currently have an investment that is returning 10% profit per month and would like to increase my investment but must borrow to do so.

I have a low credit rating (unsure exactly what it is although i'm waiting for my Experian report) and am finding it difficult to borrow. This arose from late repayment of my student overdraft recently.

My situation is:

- Wage is circa. 21,000 p/a
- I'm a homeowner with an interest only mortgage of 550 p/m
- I have approx 9000 of student loan to repay
- I have no other debts or credit cards

Payment for the investment must come from my current account so after some reading I beleive a 0% credit card with Super Balance Transfer capabilities is my best option.

Would you agree this is correct? Personal loans have higher repayments and this is a way to get the funds to my current account before transferring them out.

MBNA refused my application so I have to hope I have more luck with the Virgin card or look for one offering similar rates.

Thanks for your help

If you have a low credit rating them its unlikey anyone will give you a large credit limit.

If you've been refused by MBNA then you would be refused by Virgin as well as it is operated by MBNA. Have you tried Barclaycard or Egg?

I haven't tried any others yet, can they do 0% super balance transfers, i.e. pay money into my current account?

I thought it was only the MBNA and Virgin cards that worked for SBTs right now?

I'm not sure what my credit rating is, as i say i'm waiting to hear from the Experian report


Thanks