Credit Card Questions...

stateofplay

I am in a situation where I expect money to be available shortly but cash is needed before that date, as a loan is not an option for me - I would greatly appreciate clarification on these Credit card questions.....

Considering the number of 0% introductory offers on purchases and balance transfers, is it possible to switch from credit card to credit card without the full balance being paid indefinitely? I have no intention to build up debt I cannot manage but this appears to be a real alternative to a small loan. My second question is whether it is possible to consolidate individual credit limits onto the one card? If this is not an option does anyone have experience of splitting a large purchase over several credit cards?

Any help is greatly appreciated! :cool:

Matt

jonesMUFCforever

How much are we talking about?
Why is a loan not an option? If not a loan why not an agreed overdraft?
Your posting actually tells us very little of what you are trying to do and helping you even less.

KTF

At some point you will have to clear the cards and a lot of lenders are withdrawing 0% offers or adding a fee to balance transfers so it isnt 'free' money.

You would also have to meet the minimum payment on the cards each month.

stateofplay

ejones999 wrote:

How much are we talking about?
Why is a loan not an option? If not a loan why not an agreed overdraft?
Your posting actually tells us very little of what you are trying to do and helping you even less.

I am attempting to raise funds of £3,500.
A loan would not be an option for me as I am currently on low income employment...

grumbler

stateofplay wrote:

...A loan would not be an option for me as I am currently on low income employment...

This factor is of the same importance for both loan and credit card applications.

stateofplay wrote:

Considering the number of 0% introductory offers on purchases and balance transfers, is it possible to switch from credit card to credit card without the full balance being paid indefinitely?

I am not sure that I fully understand you. If you pay balance in full you don't pay any interest. You can pay smaller amounts (at least minimum payments) and pay interest. Some cards without 0% offer but with low life-of-balance interest rate on balance transfers can be considered as a good alternative to a loan: Best Balance Transfers (cut the cost of existing credit card debts) => Stable Relationships (no hassle cheap rates)

is it possible to consolidate individual credit limits onto the one card?

Only if cards are from the same provider: http://www.stoozing.com/cards.htm. Usually it is more difficult to get a new card with 0% offer from the provider you have other cards with.

If this is not an option does anyone have experience of splitting a large purchase over several credit cards?

I don't see any problems if this is not online purchase ...

King_Of_Fools

stateofplay wrote:

I am attempting to raise funds of £3,500.
A loan would not be an option for me as I am currently on low income employment...

In which case, you will probably find that most credit cards will also not be an option for you - except perhaps the ones with 29.9% APR and no 0% period!

jonesMUFCforever

State of play quoted
am in a situation where I expect money to be available shortly

This is the interesting bit - where and why is money coming from , can you not put off purchasing whatever you are trying to do until money is available?