Available credit to transfer a balance

leese872

Hi, I've finally decided to try and sort my credit card problem out. I want to transfer 2 balances to one card but I have checked my credit file (creditexpert) and i do not have enough available credit to apply for a balance big enough to accept the 2 balances i want to transfer. Last time I tried this I got an extra card and there was not enough on it for me to transfer even 1 balance, so i ended up using it for purchases now i'm in an even more mess. I don't want to apply for a card to get refused as my credit rating is pretty good so far. Do i take a chance? Has anyone else ever had this problem or is just me using all my credit up? Would really like some help, Please??

NickX

How do you know that you won't get enough credit ??

To be honest you never know what your Credit Limit will be until you are accepted and the card is actually issued.

IMO its always worth getting debts onto a lower rate if at all possible.

If you don't get the Credit Limit that you were hoping for then I suggest moving as much as you can (usually 95% of the Credit Limit that you get) across, at least this will reduce the interest to a certain extent even though you still have some on the higher rate.

Also always move the more expensive debt across first, so check out your APRs and transfer the higher ones first.

Good Luck.