I’ve been trying to improve my credit file recently by reducing my overall debt, increasing my credit limit (utilisation depends on when the report was sent to the CRA), reduce the number of hard searches etc
The eligiblity check for all barclaycard cards has risen to 80% likelihood of approval and I’ve done a soft search on the Barclaycard website as well which gives the same results.
It could give me 27 months balance transfer and purchases which will improve my credit limit in total as well as allowing me to reduce my overall debt as well (moving to 0% debt and paying off my final couple of payday loans). Is it simple enough to say 80% is a high enough chance to go and try and apply. I’ve had just the one hard search in my account in the last two months, have only opened one additional credit card (up to 2) and no further payday loan application or accounts opened. I have lots of hard searches in March 2018 when I was desperate for a loan, should I let them drop off for 3/6/12 months before applying for anything but a credit builder card?
I’m no longer in big need of a third card but a card like that this that I can transfer my 1300 CC debt to would be very useful as well as increasing my overall credit limit.
What are people’s thoughts?