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Theo said:Kiddo, strictly speaking this isn't true. They'll grant you another credit card that you can transfer the balance to..........this is effectively a loan. Most are now offering 6-9 months at 0% before hiking it back up to the 14-17% rates.
Noor77 said:I would probably be able to service it if I tried...but most of my friends pay only the minimum so I figure that I am doing alright at 70%.
Institutions do not record whether they approved or declined you on ICB, only the fact that they have accessed your records, so there will be no black mark on your file. Only time they would raise an eyebrow if there were a number of enquiries on your record over a short period of time - ie being refused by a number of banks and applying to another one each time.thomj42 said:Any ideas on the credit rating question?
This is a crazy cashflow management strategy. You will never clear your CC debt if you continue to do this! Saving (possibly even through an SSIA) while carrying high cost CC debt simply does not make sense. I'm sure that you and others have been told that here many times so I don't understand why you don't accept this and act on the advice given.Noor77 said:spend about €500 a month on my VISA - I pay back 70% every month.
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