limits
suesim
Posts: 21 Forumite
in Credit cards
I want to transfer the balance to a 0% card,but because my husband has no life insurance,i need a safety net just in case,so dont really know what to do
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No idea what you're asking really. I guess you have credit card debt that you are struggling to pay back and paying interest on. Transferring the balance will reduce the interest cost and help you pay it off quicker. Credit card debt whether incurring interest or not is not a substitute for life insurance.loose does not rhyme with choose but lose does and is the word you meant to write.0
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Welcome to MSE :wave:I want to transfer the balance to a 0% card,
The balance of what?but because my husband has no life insurance,
Why is this relevant?i need a safety net just in case,
In case of what?so dont really know what to do
As redpete said, what are you actually asking?Are you for real? - Glass Half Empty??
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Thank you for the replys, but as a newbie I guess I havent explained myself well enough, basically what im asking is if go ahead and transfer my debt from my credit card onto 0% interest card, does that mean ive got no credit limit with the new card, or am I missunderstanding it all, if so please can someone help me understand..0
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Have you applied for a 0% card already? If you are accepted, the provider will tell you what the credit limit is on the new card. It may, or may not, be the same as the credit limit on the old card.Thank you for the replys, but as a newbie I guess I havent explained myself well enough, basically what im asking is if go ahead and transfer my debt from my credit card onto 0% interest card, does that mean ive got no credit limit with the new card, or am I missunderstanding it all, if so please can someone help me understand..Are you for real? - Glass Half Empty??
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I havent applied for a card yet, just doing research into which one to go for, ive no idea at the moment.0
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It is often not a good idea to spend money (make purchases) on a card that you have used to transfer a balance to with a 0% offer. The purchases would start incurring interest straight away.
The balance transferred does come off the credit limit on the new card.
But when you have transferred the balance you will still have available credit on the old card that can now be used. (But dangerous because it's not a great idea to transfer a balance just to build it up again.)
(Still don't get the link to life insurance - are you anticipating your husband's death and having to use a credit card to live on?)loose does not rhyme with choose but lose does and is the word you meant to write.0 -
Thanks for the replys, just trying to find the right card to make transfer with, whats a good fair all rounder?0
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Just to clear up what I meant about my husband having no insurance is that if anything happened (god forbid) , we have no savings etc to pay for this and what do me and my young daughter do then?0
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Not at all.0
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