How many cards?

Dragon18007_2

Hi

I have 3 credit cards, a royal bank of scotland, a halifax and a virgin card which i got to transfer my balance to.

now my balance transfer time is running out on virgin so I want to get most of it moved off that card so I applied for a barclay card which I got in today but the only gave me £850 credit limit so I can only transfer over £700 from my virgin card but that still leaves £1200 on it that interest will start getting put on by august 24 or around then.

Do you think I can apply for another card to transfer more of the balance on to it or will having 4 cards be too much already??

I know applying for them brings your credit score down but im not fussed about that as i dont plan on taking any credit out again and I always make the payments on time, im trying to get all my debt cleared by the end of the year.

so what is the best thing to do? keep trying and hope i get accepted somewhere else? is there any good cards out there that might give me a higher limit?

im stuck lol.

JJ

cifpower

Maybe you should discuss your BT needs with Barclaycard as they may give you a limit increase.

methusala_2

virgin is MBNA so your restricted to non MBNA cards if you want to BT off virgin. Capitalone is an option for you but they too may well only give you around 700 limit but at least that would leave Virgin in the 500 region and a lot easier to swallow than the current 1900 Balance.

NickX

methusala wrote: »

virgin is MBNA so your restricted to non MBNA cards if you want to BT off virgin.

MBNA allow you transfer funds directly to your Bank Account so you can get round this restriction by routing the funds through a Bank Account, then paying off the other MBNA card.

Moggles_2

NickX wrote: »

MBNA allow you transfer funds directly to your Bank Account, so you can get round this restriction by routing the funds through a Bank Account, then paying off the other MBNA card.

This is true, but if there's a sizeable balance on your Virgin card, particularly if it's still charged at 0%, you may be turned down or handed a lowish credit limit.
(If there were no balance on your existing card, this lender will sometimes switch your credit around to give you a higher limit on the new card, so MBNA could be useful in the near future.)

0% BTs for 14 months are currently available to new customers from Egg. There's a 3% handling charge

Dragon18007_2

Thanks

I applied for an egg card and the balance it approved me for will cover whats left on the virgin card.

I already transfered over some to the barclay card so i'll leave that there and the rest I will transfer over to the new egg card when it arrives so at least I wont be hit with interest with the virgin one now so I can cancel the card once the remaining balance has been transfered over.

once i know what I have left over on the egg card I might transfer over the halifax balance to it I think...

thanks all