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  • FIRST POST
    • cleavonlittle
    • By cleavonlittle 11th Jun 17, 8:40 PM
    • 2Posts
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    cleavonlittle
    Balance Transfer and Credit Limit - Advice Needed
    • #1
    • 11th Jun 17, 8:40 PM
    Balance Transfer and Credit Limit - Advice Needed 11th Jun 17 at 8:40 PM
    I'm looking to transfer the active balance from one of my credit cards (as it reaches the end of the 0% period). I also have another card with an active 0% balance.
    I'd like to know whether the fact that between the two cards, I think I've reached the 'limit' of my available credit, so will I find it difficult to get the additional, temporary credit on the new card while I transfer the balance?
    Is there anything I can do to reduce the effect of this?

    Thanks.
Page 1
    • zx81
    • By zx81 11th Jun 17, 9:13 PM
    • 12,678 Posts
    • 12,936 Thanks
    zx81
    • #2
    • 11th Jun 17, 9:13 PM
    • #2
    • 11th Jun 17, 9:13 PM
    How are you defining an active balance, as opposed​ to inactive?

    Further credit will be based on your history, income, debts and balances, amongst other factors. Why do you think k you will get no further credit?
    • cleavonlittle
    • By cleavonlittle 11th Jun 17, 9:54 PM
    • 2 Posts
    • 0 Thanks
    cleavonlittle
    • #3
    • 11th Jun 17, 9:54 PM
    • #3
    • 11th Jun 17, 9:54 PM
    Sorry, probably complicating things more than necessary. I mean I have outstanding balances that I'm paying the minimum on until the end of the 0% period. Once that arrives, I'd like to transfer the remaining balance to a new card (I have the means to pay it off but would rather keep that in the bank, gathering a bit of interest).
    I got turned down for a credit agreement on a mobile phone last year - I have a flawless credit record so the only thing I could think is that the level of credit I currently have access to has hit a ceiling.
    • YorkshireBoy
    • By YorkshireBoy 11th Jun 17, 10:06 PM
    • 29,306 Posts
    • 17,082 Thanks
    YorkshireBoy
    • #4
    • 11th Jun 17, 10:06 PM
    • #4
    • 11th Jun 17, 10:06 PM
    3 key ratios in credit scoring:

    Used credit to income (how much do you owe)
    Available credit to income (how much could you owe)
    Used credit to available credit (utilisation)

    How do you think anyone here can give you an opinion without any numbers?...ie, limits and balances on all cards, income, and any other financial commitments such as loans, mortgage, etc.
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