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confused
sue149
Posts: 380 Forumite
in Credit cards
hi can anyone help me i have a credit card with 10000 on it and apply for a o% CARD from virgin and got £4440 it should i take it or cancel it and if i keep it how do i use it to lower my 1st card will i make a saving dont want to be paying any more ty also when they send it meas long as i dont ativate it will i not be charge anything
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Comments
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Well OK you didn't get as high a credit limit as you wanted, but £4440 is still a decent amount so why not Balance Transfer as much as you can to this 0% card (usually up to 95% of the Credit Limit).
This should reduce the amount outstanding on your other card to less than £6000 so you should save interest there.
You could try applying for another 0% card to transfer the rest of this debt to.
If you do decide to cancel however, you will not be charged anything provided you didn't action any Balance Transfers.0 -
I definitely wouldn't cancel.
None of us knows the credit limit we will be given when selecting a new credit card. If the worst happens, Martin's advice is to transfer what you can. Don't leave an offer unused out of exasperation. It's already on your credit file, so you may as well use it (See Martin's *Credit Card Limit: didn't get what you wanted?* article on the main site)
People who don't know their rights, don't actually have those rights.0 -
not sure if i have done it right i hate online i should of rang not sure if they have tranfed my other card my credit limit was 15000 which i had use about 10500 but the new card says i now have a credit limit of 4400 do you they have done a tranfer for me god i m hopeless0
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Well obviously the credit Limit that you have been given isn't enough for them to Balance Transfer the entire balance. There are 2 possibilities :
(a) They Balance Transferred a proportion of it (probably up to 95% of your limit)
(b) They decided not to action the Balance Transfer and await your instructions.
I would call them up, ask to know if any Balance Transfer was actioned and if so, for exactly how much ?0 -
Why not give Card Services a call tomorrow on 01244 673700?People who don't know their rights, don't actually have those rights.0
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